Hertz (HTZ) Stock Surges on Share Purchases
NEW YORK (TheStreet) -- Hertz Global (HTZ) - Get Report stock is advancing 12.99% to $8.70 in early-afternoon trading on Tuesday after key executives purchased shares of the car rental company.
Hertz disclosed that CEO John Tague bought 47,000 shares at $7.85 on Friday and 19,000 shares at $7.80 on Monday, while CFO Thomas Kennedy purchased 40,000 shares at $7.76 on Friday and Chief Revenue Officer Jeffrey Foland bought 65,000 shares at $7.63 on Friday, according to MarketWatch.
The stock is on track for its biggest one-day percentage gain since June 25, 2009.
About 11.67 million shares of Hertz have been traded so far today vs. its average trading volume of roughly 9.42 million shares per day.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D+.
Hertz's weaknesses include its generally disappointing historical performance in the stock itself, generally high debt management risk and weak operating cash flow.
You can view the full analysis from the report here: HTZ
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
