Hertz Insiders Buy Stocks

Three top insiders at Hertz Global Holdings Inc. snapped up shares on Feb. 29, one week after the rental car provider forecast 2008 profit below Wall Street's expectations and warned that restructuring efforts would result in job cuts, Business Week reports.

Hertz shares recently dropped to $10.43, an all-time low since the company's initial public offering priced at $15 in November 2006.

Chairman and CEO Mark Frissora purchased 25,000 shares, which increased his stake to 1.1 million shares. According to InsiderScore.com, Frissora last bought Hertz shares in August 2007.

In addition, Executive Vice President Joseph Nothwang bought 30,000 shares and Director Barry Beracha bought 20,000 shares.

Most recently within the diversified services industry, insider buying has reached its most bullish levels in more than three years. Analysts say this is a sign that stocks have bottomed out and are on the rise.

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

Understanding The Fleetification of Everything

As fleet miles increase exponentially, and as new stratum of fleet enter both consumer and business use cases, the "founding fathers" who gathered at Fleet Forward in Miami last week have some work to do.

The Problem with Valuing Safety Technology

As advanced safety technologies have migrated to mainstream vehicles, retaining value for these options at resale remains an issue.

ELD Mandate: Is Your Head Still in the Sand?

If you think you have 11 weeks to implement an Electronic Logging Device system to meet the Dec. 18 compliance deadline, you really don’t — for a few reasons.

Job Finder: Access Top Talent. Fill Key Positions.

>