Hertz Global Holdings Inc (HTZ) Shares Down After David Rowlands is Appointed GM in the United Kingdom


Today Hertz Global Holdings Inc (NYSE:HTZ) announced that they have appointed David Rowlands as the General Manager for Hertz UK, effective as of November 16, 2015. Rowlands will be in charge of running the country’s vhicle rentals as well as driving and developing their strategy of business in the region.

‘We are very pleased to welcome David to Hertz; his extensive leadership and operational experience are key for his new role as the head of our UK business. As the new General Manager for Hertz UK, David will oversee the country’s performance and teams, bringing a fresh perspective and significant set of skills to the role,’ said Rafael Girona.

Rowlands will report directly to Hertz Senior General Manager Region North, Rafael Girona, who will replace long time veteran Neil Cunningham who is leaving the company.

The stock is down 2.87% or $0.45 after the news, hitting $15.4 per share. About 17.65 million shares traded hands or 111.63% up from the average. HTZ has declined 24.19% since April 28, 2015 and is downtrending. It has underperformed by 23.30% the S&P500.

Out of 7 analysts covering Hertz Global Holdings Inc. (NYSE:HTZ), 5 rate it “Buy”, 1 “Sell”, while 1 “Hold”. This means 71% are positive. $29 is the highest target while $14 is the lowest. The $21.67 average target is 40.71% above today’s ($15.4) stock price. Hertz Global Holdings Inc. was the topic in 15 analyst reports since July 21, 2015 according to StockzIntelligence Inc. M Partners maintained the stock on November 10 with “Buy” rating. Goldman Sachs reinitiated the shares of HTZ in a report on August 13 with “Buy” rating.

The institutional sentiment decreased to 0.83 in Q2 2015. Its down 0.33, from 1.16 in 2015Q1. The ratio dropped, as 53 funds sold all Hertz Global Holdings Inc shares owned while 142 reduced positions. 46 funds bought stakes while 115 increased positions. They now own 450.19 million shares or 4.72% less from 472.47 million shares in 2015Q1.

Twin Securities Inc. holds 7.1% of its portfolio in Hertz Global Holdings Inc for 2.09 million shares. Owl Creek Asset Management L.P. owns 6.14 million shares or 5.98% of their US portfolio. Moreover, Jana Partners Llc has 4.52% invested in the company for 41.94 million shares. The New York-based T2 Partners Management Lp has invested 4.52% in the stock. Sls Management Llc, a New York-based fund reported 405,145 shares.

Hertz Global Holdings, Inc. is a holding company. The company has a market cap of $6.94 billion. The Firm operates car rental business through its Hertz, Dollar, Thrifty and Firefly brands. It currently has negative earnings. The Company’s operating divisions are U.S.