On March 24, 2023 at 12:55:53 ET an unusually large $3,464.00K block of Put contracts in Hertz Global Holdings Inc. (HTZ) was bought, with a strike price of $15.00 / share, expiring in 301 days (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 76.37 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in HTZ options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 56.45% Upside
As of March 24, 2023, the average one-year price target for Hertz Global Holdings Inc. is $25.70. The forecasts range from a low of $20.20 to a high of $35.70. The average price target represents an increase of 56.45% from its latest reported closing price of $16.43.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Hertz Global Holdings Inc. is $9,132MM, an increase of 5.15%. The projected annual non-GAAP EPS is $2.41.
What is the Fund Sentiment?
There are 490 funds or institutions reporting positions in Hertz Global Holdings Inc.. This is an increase of 18 owner(s) or 3.81% in the last quarter. Average portfolio weight of all funds dedicated to HTZ is 0.67%, an increase of 12.82%. Total shares owned by institutions decreased in the last three months by 2.31% to 328,972K shares. The put/call ratio of HTZ is 0.57, indicating a bullish outlook.
What are Large Shareholders Doing?
Knighthead Capital Management holds 181,455K shares representing 56.28% ownership of the company. No change in the last quarter.
Rubric Capital Management holds 7,350K shares representing 2.28% ownership of the company. In it’s prior filing, the firm reported owning 8,428K shares, representing a decrease of 14.67%. The firm decreased its portfolio allocation in HTZ by 28.65% over the last quarter.
Marathon Asset Management holds 6,760K shares representing 2.10% ownership of the company. In it’s prior filing, the firm reported owning 7,510K shares, representing a decrease of 11.09%. The firm increased its portfolio allocation in HTZ by 260.06% over the last quarter.
Discovery Capital Management holds 6,688K shares representing 2.07% ownership of the company. In it’s prior filing, the firm reported owning 1,640K shares, representing an increase of 75.48%. The firm increased its portfolio allocation in HTZ by 587.75% over the last quarter.
Oaktree Capital Management holds 6,500K shares representing 2.02% ownership of the company. In it’s prior filing, the firm reported owning 10,469K shares, representing a decrease of 61.06%. The firm decreased its portfolio allocation in HTZ by 43.80% over the last quarter.
Hertz Global Holdings Background Information
(This description is provided by the company.)
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Additionally, The Hertz Corporation operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales.
This article originally appeared on Fintel
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