Cornercap Investment Counsel Inc. Has $309,000 Position in Herc Holdings Inc. (NYSE:HRI)

Cornercap Investment Counsel Inc. reduced its stake in shares of Herc Holdings Inc. (NYSE:HRI) by 53.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,938 shares of the transportation company’s stock after selling 2,195 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Herc were worth $309,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in shares of Herc by 113.7% in the first quarter. SG Americas Securities LLC now owns 1,729 shares of the transportation company’s stock valued at $291,000 after buying an additional 920 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Herc by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,082 shares of the transportation company’s stock valued at $855,000 after buying an additional 398 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Herc by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,936,945 shares of the transportation company’s stock valued at $494,288,000 after buying an additional 38,798 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of Herc in the first quarter valued at $416,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Herc by 232.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 14,618 shares of the transportation company’s stock valued at $2,461,000 after buying an additional 10,217 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Herc

In related news, COO Aaron Birnbaum sold 10,000 shares of Herc stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $146.71, for a total value of $1,467,100.00. Following the sale, the chief operating officer now owns 38,232 shares of the company’s stock, valued at approximately $5,609,016.72. This trade represents a 20.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Samuel Wade Sheek sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $213.12, for a total value of $1,065,600.00. Following the transaction, the senior vice president now directly owns 21,586 shares in the company, valued at $4,600,408.32. This trade represents a 18.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,880 shares of company stock valued at $3,342,960. 1.80% of the stock is owned by insiders.

Herc Price Performance

Shares of HRI opened at $217.67 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.89. Herc Holdings Inc. has a 1 year low of $119.08 and a 1 year high of $246.88. The stock has a market cap of $6.18 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 1.25 and a beta of 2.02. The stock’s 50-day moving average price is $179.49 and its two-hundred day moving average price is $154.28.

Herc (NYSE:HRI) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.13). Herc had a return on equity of 26.35% and a net margin of 10.09%. The company had revenue of $965.00 million for the quarter, compared to the consensus estimate of $931.33 million. During the same quarter last year, the business posted $4.00 EPS. Herc’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts predict that Herc Holdings Inc. will post 13.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Herc from $200.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Barclays raised their price target on Herc from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on Herc from $178.00 to $204.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $155.00 price target on shares of Herc in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Herc currently has an average rating of “Hold” and an average price target of $212.25.

Herc Company Profile

Herc Holdings Inc, together with its subsidiaries, operates as an equipment rental supplier. It rents aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment, as well as generators, and safety supplies and expendables; and provides ProSolutions, an industry specific solution based services, such as pumping solutions, power generation, climate control, remediation and restoration, and studio and production equipment.