Car rental firm Hertz rises after Ackman's Pershing Square builds stake

Shares of car rental firm Hertz HTZ.O jump 21.9% to $4.45 premarket

Activist investor Bill Ackman's hedge fund, Pershing Square Capital Management, has a 12.7 million share stake in HTZ, as of December 31, 2024, according to an SEC filing

Reuters reported last week that Pershing Square Holdings' portfolio has lost nearly 14% through April 8

The losses reflect sharp global declines as investors reacted to the Trump administration's plans to impose heavy tariffs on nearly all trading partners

Six out of 10 brokerages rate the Hertz stock at "hold", 4 rate "sell" and their median PT is $3 as per LSEG data

As of last close, HTZ stock down 0.3% YTD