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

Five Business Model Trends for 2017

As new forms of mobility take flight, the borders with traditional car rental are starting to erode.

Are Commercial Drone Deliveries Eminent in the U.S.?

Amazon just delivered its first package by drone in England. Will U.S. delivery fleets be able to take advantage soon?

Autonomous Vehicles and the Changing Role of the Fleet Manager

With fewer drivers and substantially longer fleet lifecycles, fleet managers will pivot to new job functions.

Job Finder: Access Top Talent. Fill Key Positions.