Hertz Global Holdings Inc. [NASDAQ: HTZ] traded at a high on 01/07/22, posting a 1.29 gain after which it closed the day’ session at $24.31. The company report on December 22, 2021 that Hertz Announces Final Results of Its Cash Tender Offer to Purchase Its Outstanding Series A Preferred Stock and Related Consent Solicitation.
Hertz Global Holdings, Inc. (NASDAQ: HTZ) (“Hertz” or the “Company”) today announced the final results of its tender offer (the “Offer”) to purchase all of its outstanding Series A Preferred Stock, par value $0.01 per share (the “Series A Preferred Shares”), at a price per Series A Preferred Share of $1,250.00, less any applicable withholding taxes, and the related consent solicitation (the “Consent Solicitation”) to amend the certificate of designation of the Series A Preferred Shares (the “Proposed Amendment”). The Offer and Consent Solicitation expired at midnight (at the end of the day), Eastern Time on Tuesday, December 21, 2021.
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Based on the final tabulation by Computershare Trust Company, N.A., the depositary for the Offer and Consent Solicitation, all Series A Preferred Shares were tendered and not withdrawn in the Offer, and corresponding consents have been delivered in the Consent Solicitation. Pursuant to the terms of the Offer and Consent Solicitation, the Company has accepted for purchase all of the Series A Preferred Shares tendered in the Offer, for an aggregate purchase price of $1,875,000,000. The accepted shares represent 100% of the Company’s outstanding Series A Preferred Shares as of December 21, 2021. Based on the final results, the requisite consent of at least a majority of the outstanding Series A Preferred Shares required to approve the Proposed Amendment was obtained, although it will not be necessary to implement the Proposed Amendment in light of the fact that all Series A Preferred Shares were tendered in the Offer.
The results of the trading session contributed to over 18612775 shares changing hands. Over the past one week, the price volatility of Hertz Global Holdings Inc. stands at 6.90% while the volatility over the past one month is 6.32%.
The market cap for HTZ stock reached $11.34 billion, with 471.00 million shares outstanding and 156.72 million shares in the current float. Compared to the average trading volume of 4.48M shares, HTZ reached a trading volume of 18612775 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Hertz Global Holdings Inc. [HTZ]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HTZ shares is $31.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HTZ stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Deutsche Bank have made an estimate for Hertz Global Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 06, 2021. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on December 06, 2021, representing the official price target for Hertz Global Holdings Inc. stock. Previously, the target price had yet another raise to $30, while JP Morgan analysts kept a Overweight rating on HTZ stock.
The Average True Range (ATR) for Hertz Global Holdings Inc. is set at 1.47, with the Price to Sales ratio for HTZ stock in the period of the last 12 months amounting to 1.71. The Price to Book ratio for the last quarter was 2.72, with the Price to Cash per share for the same quarter was set at 5.79. Price to Free Cash Flow for HTZ in the course of the last twelve months was 9.59.
How has HTZ stock performed recently?
Hertz Global Holdings Inc. [HTZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.72. With this latest performance, HTZ shares dropped by -8.57% in over the last four-week period, additionally plugging by 13.86% over the last 6 months .
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HTZ stock in for the last two-week period is set at 51.08, with the RSI for the last a single of trading hit 52.83, and the three-weeks RSI is set at 50.44 for Hertz Global Holdings Inc. [HTZ]. The present Moving Average for the last 50 days of trading for this stock 25.34, while it was recorded at 24.26 for the last single week of trading.
Hertz Global Holdings Inc. [HTZ]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Hertz Global Holdings Inc. [HTZ] shares currently have an operating margin of -16.96 and a Gross Margin at -7.15. Hertz Global Holdings Inc.’s Net Margin is presently recorded at -32.60.
Return on Total Capital for HTZ is now -6.19, given the latest momentum, and Return on Invested Capital for the company is -14.33. Return on Equity for this stock declined to -187.84, with Return on Assets sitting at -8.25. When it comes to the capital structure of this company, Hertz Global Holdings Inc. [HTZ] has a Total Debt to Total Equity ratio set at 14,112.50. Additionally, HTZ Total Debt to Total Capital is recorded at 99.30, with Total Debt to Total Assets ending up at 46.74. Long-Term Debt to Equity for the company is recorded at 10,892.86, with the Long-Term Debt to Total Capital now at 76.64.
Reflecting on the efficiency of the workforce at the company, Hertz Global Holdings Inc. [HTZ] managed to generate an average of -$71,417 per employee. Receivables Turnover for the company is 4.02 with a Total Asset Turnover recorded at a value of 0.25.
Insider trade positions for Hertz Global Holdings Inc. [HTZ]
There are presently around $0 million, or 41.90% of HTZ stock, in the hands of institutional investors. The top three institutional holders of HTZ stocks are: FNY INVESTMENT ADVISERS, LLC with ownership of 257, which is approximately New of the company’s market cap and around 0.20% of the total institutional ownership; EDGE WEALTH MANAGEMENT LLC, holding 226 shares of the stock with an approximate value of $5000.0 in HTZ stocks shares; and IFP ADVISORS, INC, currently with $5000.0 in HTZ stock with ownership of nearly New of the company’s market capitalization.
Positions in Hertz Global Holdings Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 6 institutional holders increased their position in Hertz Global Holdings Inc. [NASDAQ:HTZ] by around 994 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 994 shares, according to the latest SEC report filing. HTZ stock had 6 new institutional investments in for a total of 994 shares, while 0 institutional investors sold positions of 0 shares during the same period.