Icahn More Than Doubles Stake in Hertz

Billionaire investor Carl Icahn has more than doubled his stake in Hertz Global Holdings Inc. after the rental company reported a loss in its third quarter profit, according to a report by Bloomberg.

Icahn purchased an additional 15.1 million Hertz shares, increasing his stake to 33.77% from about 15.6%, says the report. The investor was already Hertz’s biggest shareholder.

Hertz lost almost a quarter of its market value after third-quarter profits lagged analysts’ estimates, says the report. Hertz said its full-year earnings could be less than a fifth of what it projected in August.

Click here for the full Bloomberg report.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

What a Connected Fleet Means to Avis (and Car Rental)

Counter bypass is just the beginning. The promise of a “data-driven ecosystem” that connects renters with the rental agency, retail services, and even the city is a better managed fleet, an improved user experience, and new revenue opportunities during the rental itself.

Should Peer-to-Peer Renters Pay Airport Car Rental Fees?

The question is central to the City of San Francisco’s lawsuit against Turo for operating without a permit at San Francisco International Airport.

Hard Times Ahead for the Compact SUV Segment?

The hottest segment today is facing a glut of models and volume in tomorrow’s wholesale market.

Job Finder: Access Top Talent. Fill Key Positions.

>