Cooper Creek Partners Management LLC Invests $21.87 Million in Herc Holdings Inc. $HRI

Key Points

• Cooper Creek Partners Management disclosed a new first-quarter stake in Herc Holdings, buying 219,645 shares valued at about $21.87 million and representing roughly 0.66% of the company.
• Herc has continued to attract institutional interest, with hedge funds and other investors owning 93.11% of the stock.
• Analysts are mixed on HRI, with a consensus rating of Hold and an average target price of $173.43; the stock recently traded at $162.33 after a better-than-expected quarterly earnings report.

Cooper Creek Partners Management LLC bought a new stake in Herc Holdings Inc. (NYSE:HRI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 219,645 shares of the transportation company's stock, valued at approximately $21,866,000. Cooper Creek Partners Management LLC owned approximately 0.66% of Herc at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HRI. Hantz Financial Services Inc. lifted its position in Herc by 342.1% in the fourth quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company's stock valued at $25,000 after acquiring an additional 130 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Herc during the third quarter worth about $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Herc during the third quarter worth about $40,000. NewEdge Advisors LLC increased its position in shares of Herc by 628.8% during the third quarter. NewEdge Advisors LLC now owns 430 shares of the transportation company's stock worth $50,000 after purchasing an additional 371 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Herc by 50.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company's stock worth $51,000 after purchasing an additional 111 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HRI. BNP Paribas Exane began coverage on Herc in a research report on Monday, June 29th. They issued a "neutral" rating and a $160.00 target price for the company. Zacks Research raised Herc from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 9th. Wells Fargo & Company boosted their price objective on Herc from $160.00 to $176.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. increased their price objective on Herc from $140.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Herc from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $173.43.

Herc Price Performance

Shares of NYSE:HRI opened at $162.33 on Friday. Herc Holdings Inc. has a one year low of $88.45 and a one year high of $188.35. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -601.21, a PEG ratio of 29.52 and a beta of 1.88. The company has a 50-day simple moving average of $142.83 and a 200-day simple moving average of $137.28. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.46 and a current ratio of 1.46.

Herc (NYSE:HRI - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.42. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.The business's revenue was up 32.3% on a year-over-year basis. During the same quarter last year, the company posted $1.30 earnings per share. On average, analysts predict that Herc Holdings Inc. will post 5.3 EPS for the current year.

Herc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 29th. Herc's dividend payout ratio (DPR) is presently -1,037.04%.

About Herc

Herc Holdings Inc NYSE: HRI operates as a leading equipment rental provider in North America, offering a wide range of machinery and support services to construction, industrial, government and event sectors. The company's fleet includes aerial work platforms, earthmoving equipment, material handling solutions, power generation units and specialty tools, enabling clients to scale their operations without the capital expense of ownership. In addition to basic machinery rentals, Herc provides value-added services such as equipment maintenance, on-site safety training and project consulting to help customers optimize productivity and maintain compliance with industry standards.

Founded as part of Hertz Global Holdings, the equipment rental business was spun off as an independent public company in early 2016.

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