Hertz Share Soar After Ackman Takes Big Stake

Dow Jones

16 Apr

By Dean Seal

Shares of Hertz Global Holdings surged after hedge-fund manager Bill Ackman's firm disclosed a significant stake in the rental-car company.

The Ackman-led Pershing Square Capital Management said in a securities filing on Wednesday that it has accrued 12.7 million shares of Hertz stock. That represents about 4.1% of the company's 307.9 million outstanding shares, according to FactSet.

The stock was up 19% at $4.33 ahead of the opening bell. Shares were trading at $6.57 this time a year ago and closed at a record low of $2.62 last September.

Hertz shares have steadily declined since the company emerged from bankruptcy in 2021 and made a big bet on electric vehicles that drove up its operating costs. The company has since been working to unwind that investment, incurring depreciation costs along the way.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

April 16, 2025 09:28 ET (13:28 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2527824871"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2527824871\",edition:\"fundamental\",,,undefined,":{"share":"https://ttm.financial/m/news/2527824871?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-04-16 21:28","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2527824871","market":"sh","top_or_hot":-1,"title":"Hertz Share Soar After Ackman Takes Big Stake","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Dean Seal \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of Hertz Global Holdings surged after hedge-fund manager Bill Ackman's firm disclosed a significant stake in the rental-car company. \n</p>\n<p>\n  The Ackman-led Pershing Square Capital Management said in a securities filing on Wednesday that it has accrued 12.7 million shares of Hertz stock. That represents about 4.1% of the company's 307.9 million outstanding shares, according to FactSet. \n</p>\n<p>\n  The stock was up 19% at $4.33 ahead of the opening bell. Shares were trading at $6.57 this time a year ago and closed at a record low of $2.62 last September. \n</p>\n<p>\n  Hertz shares have steadily declined since the company emerged from bankruptcy in 2021 and made a big bet on electric vehicles that drove up its operating costs. The company has since been working to unwind that investment, incurring depreciation costs along the way. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 16, 2025 09:28 ET (13:28 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hertz Share Soar After Ackman Takes Big Stake</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHertz Share Soar After Ackman Takes Big Stake\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-04-16 21:28</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Dean Seal \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of Hertz Global Holdings surged after hedge-fund manager Bill Ackman's firm disclosed a significant stake in the rental-car company. \n</p>\n<p>\n  The Ackman-led Pershing Square Capital Management said in a securities filing on Wednesday that it has accrued 12.7 million shares of Hertz stock. That represents about 4.1% of the company's 307.9 million outstanding shares, according to FactSet. \n</p>\n<p>\n  The stock was up 19% at $4.33 ahead of the opening bell. Shares were trading at $6.57 this time a year ago and closed at a record low of $2.62 last September. \n</p>\n<p>\n  Hertz shares have steadily declined since the company emerged from bankruptcy in 2021 and made a big bet on electric vehicles that drove up its operating costs. The company has since been working to unwind that investment, incurring depreciation costs along the way. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 16, 2025 09:28 ET (13:28 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HTZ","symbol_name":"赫兹租车","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2527824871","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2527824871","pubTimestamp":1744810080,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Hertz Global Holdings surged after hedge-fund manager Bill Ackman's firm disclosed a significant stake in the rental-car company.The Ackman-led Pershing Square Capital Management said in a securities filing on Wednesday that it has accrued 12.7 million shares of Hertz stock. That represents about 4.1% of the company's 307.9 million outstanding shares, according to FactSet.The stock was up 19% at $4.33 ahead of the opening bell. Shares were trading at $6.57 this time a year ago and closed at a record low of $2.62 last September.Hertz shares have steadily declined since the company emerged from bankruptcy in 2021 and made a big bet on electric vehicles that drove up its operating costs. The company has since been working to unwind that investment, incurring depreciation costs along the way.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"HTZ":"赫兹租车","BK4585":"ETF&股票定投概念","BK4230":"旅客陆运","BK4022":"陆运"},"translate_title":"阿克曼持有大量股份后赫兹股价飙升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HTZ":0.9},"content_text":"By Dean Seal \n\n\n \n\n\n  Shares of Hertz Global Holdings surged after hedge-fund manager Bill Ackman's firm disclosed a significant stake in the rental-car company. \n\n\n  The Ackman-led Pershing Square Capital Management said in a securities filing on Wednesday that it has accrued 12.7 million shares of Hertz stock. That represents about 4.1% of the company's 307.9 million outstanding shares, according to FactSet. \n\n\n  The stock was up 19% at $4.33 ahead of the opening bell. Shares were trading at $6.57 this time a year ago and closed at a record low of $2.62 last September. \n\n\n  Hertz shares have steadily declined since the company emerged from bankruptcy in 2021 and made a big bet on electric vehicles that drove up its operating costs. The company has since been working to unwind that investment, incurring depreciation costs along the way. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 16, 2025 09:28 ET (13:28 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}