JPMorgan Chase & Co. Cuts Holdings in HC2 Holdings Inc (HCHC)
JPMorgan Chase & Co. cut its stake in HC2 Holdings Inc (NASDAQ:HCHC) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,041,400 shares of the technology company’s stock after selling 6,043 shares during the quarter. JPMorgan Chase & Co. owned about 2.47% of HC2 Holdings worth $6,124,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in HCHC. Vanguard Group Inc. raised its position in HC2 Holdings by 24.6% in the first quarter. Vanguard Group Inc. now owns 1,363,811 shares of the technology company’s stock valued at $8,456,000 after purchasing an additional 269,259 shares during the period. Dimensional Fund Advisors LP raised its position in HC2 Holdings by 109.9% in the first quarter. Dimensional Fund Advisors LP now owns 510,588 shares of the technology company’s stock valued at $3,166,000 after purchasing an additional 267,370 shares during the period. Raging Capital Management LLC purchased a new position in HC2 Holdings in the first quarter valued at about $1,157,000. Driehaus Capital Management LLC raised its position in HC2 Holdings by 202.5% in the first quarter. Driehaus Capital Management LLC now owns 142,976 shares of the technology company’s stock valued at $886,000 after purchasing an additional 95,719 shares during the period. Finally, Spark Investment Management LLC purchased a new position in HC2 Holdings in the second quarter valued at about $546,000.
HC2 Holdings Inc (NASDAQ:HCHC) opened at 5.17 on Thursday. HC2 Holdings Inc has a 52-week low of $3.80 and a 52-week high of $7.27. The stock’s market capitalization is $222.37 million. The firm has a 50-day moving average price of $4.80 and a 200 day moving average price of $5.56.
HC2 Holdings (NASDAQ:HCHC) last released its earnings results on Wednesday, August 9th. The technology company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.17). The business had revenue of $378.65 million for the quarter, compared to analysts’ expectations of $424.16 million. On average, equities research analysts predict that HC2 Holdings Inc will post ($1.00) EPS for the current year.
HCHC has been the topic of several research reports. Zacks Investment Research raised HC2 Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. B. Riley reissued a “buy” rating and issued a $10.50 price objective on shares of HC2 Holdings in a research report on Tuesday, August 8th.
About HC2 Holdings
HC2 Holdings, Inc engages in construction, marine services, insurance, telecommunications, energy, life sciences, and other businesses in the United States, the United Kingdom, and internationally. The company fabricates and erects structural steel for commercial and industrial construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, and power plants.
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