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

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.

>