Investing

Alger Associates Sells Majority of Herc Holdings (HRI) Position

Alger Associates Inc has filed a 13G/A form with the SEC disclosing ownership of 372,590 shares of Herc Holdings Inc (HRI). This represents 1.3% of the company.

In their previous filing dated February 14, 2022 they reported 1,894,683 shares and 6.40% of the company, a decrease in shares of 80.33% and a decrease in total ownership of 5.10% (calculated as current – previous percent ownership).

What are other large shareholders doing?

Icahn Carl C holds 4,022,841 shares representing 13.75% ownership of the company. No change in the last quarter.

Vanguard Group Inc holds 2,428,352 shares representing 8.30% ownership of the company. In it’s prior filing, the firm reported owning 2,365,378 shares, representing an increase of 2.59%. The firm decreased its portfolio allocation in HRI by 34.18% over the last quarter.

Alliancebernstein L.p. holds 2,144,474 shares representing 7.33% ownership of the company. In it’s prior filing, the firm reported owning 1,882,417 shares, representing an increase of 12.22%. The firm decreased its portfolio allocation in HRI by 27.25% over the last quarter.

Gamco Investors, Inc. Et Al holds 1,912,675 shares representing 6.54% ownership of the company. In it’s prior filing, the firm reported owning 1,929,638 shares, representing a decrease of 0.89%. The firm decreased its portfolio allocation in HRI by 35.04% over the last quarter.

BlackRock Inc. holds 1,791,070 shares representing 6.12% ownership of the company. In it’s prior filing, the firm reported owning 1,637,359 shares, representing an increase of 8.58%. The firm decreased its portfolio allocation in HRI by 29.72% over the last quarter.

What is the overall institutional sentiment?

There are 582 funds or institutions reporting positions in Herc Holdings Inc. This is a decrease of 21 owner(s) or 3.48%.

Average portfolio weight of all funds dedicated to Herc Holdings Inc is 0.2645%, a decrease of 20.3192%. Total shares owned by institutions decreased in the last three months by 2.99% to 35,199,555 shares.

Based on this information, institutional sentiment is bearish.

This article originally appeared on Fintel

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