Hertz Global Holdings Inc (HTZ)’s Shares Skyrocket After Financial Restatements, Positive Outlook

The shares of Hertz Global Holdings Inc (NYSE:HTZ) have declined by 14.89% year-to-date and are trading at $19.52 as of the reporting period. Smart money held a bearish outlook of the auto-rental company at the end of the first quarter, with 63 hedge fund investors holding $5.01 billion in the company’s shares against previous holdings of $6.39 billion from 72 investors at the end of 2014. Smart money was right to flee the stock at the time amid the company’s financial missteps, as Hertz Global Holdings Inc (NYSE:HTZ) was among the stocks incurring major losses during the second quarter, with a drop of 16%. According to our database, eight hedge fund billionaires had positions in the auto-rental company at the end of the first quarter, with aggregate investments of $3.7 billion in the company.

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