HTZ

LONGINSIDER SELL

HERTZ GLOBAL HLDGS INC

Funds

Score

4.50

vs SPY

+0.8%

Stock return (since Q-end)

+17.1%

SPY return (since Q-end)

+16.3%

Current price

$5.40

News Summary

Negative

Hertz delivered a modest Q1 2026 revenue beat (+11% YoY to $2.0B) with significant EBITDA improvement (~50% YoY), but remains deeply unprofitable with a $333M GAAP net loss and $786M shareholder deficit. The company's transformative Oro Mobility–Uber partnership (launching autonomous and rideshare fleet services) represents a high-upside strategic bet, though it introduces execution risk to an already-leveraged turnaround story, evidenced by Goldman Sachs issuing a Sell rating post-announcement.

Red flags

•Shareholder equity deeply negative at $(786)M; total debt $18.2B reflects extreme leverage
•Q1 GAAP net loss of $(333)M and adjusted net loss of $(224)M; company remains significantly unprofitable
•Operating cash flow collapsed to $20M from $251M YoY; working capital and vehicle spending constraints
•Vehicle recalls cost $(25)M+ in Q1 EBITDA; ongoing operational headwind
•Goldman Sachs Sell rating issued May 18, 2026; analyst sentiment mixed despite Oro upside
•Oro Mobility is unproven business model launching into autonomous/rideshare markets with limited scale visibility and execution risk

Funds Buying (3)

Fund	Manager	Shares Held	∆ Shares	Position Value	QoQ	Status
Pershing Square	Bill Ackman	15.2M	+15.2M	$70.3B	—	NEW
Point72	Steve Cohen	1.2M	+1.2M	$5.3B	—	NEW
Coatue Management	Philippe Laffont	107K	+107K	$492M	—	NEW

Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter.

Insider Activity

Name	Title	Type	Shares	Price	Value	Filed
Moore Michael S.	EVP, Chief Operating Officer	SELL	41K	$6.07	$0.25M	2026-05-11