HC2 Holdings, Inc. (HCHC) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research lowered shares of HC2 Holdings, Inc. (NYSE:HCHC) from a hold rating to a sell rating in a research note published on Monday morning.
According to Zacks, “HC2 Holdings, Inc. is a holding company which seeks to acquire and grow attractive businesses. The company’s operating segments consists of Manufacturing, Marine Services, Insurance, Utilities, Telecommunications, Life Sciences and Other. Its operating subsidiaries consists of Schuff International Inc., is a steel fabricator and erector primarily in the United States and Global Marine Systems Limited, provider of engineering and underwater services on submarine cables. HC2 Holdings, Inc. is headquartered in New York. “
Separately, B. Riley reiterated a buy rating and set a $11.50 price objective (up from $10.00) on shares of HC2 Holdings in a research note on Tuesday, November 7th.
Shares of HC2 Holdings (NYSE HCHC) opened at $4.95 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 6.06. HC2 Holdings has a one year low of $4.30 and a one year high of $7.27.
HC2 Holdings (NYSE:HCHC) last announced its quarterly earnings data on Wednesday, November 8th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The firm had revenue of $406.40 million for the quarter, compared to analyst estimates of $428.04 million. HC2 Holdings had a negative return on equity of 67.69% and a negative net margin of 6.13%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.20) earnings per share. equities analysts forecast that HC2 Holdings will post -1.11 earnings per share for the current year.
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In other news, insider Suzi R. Herbst sold 5,303 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $4.99, for a total value of $26,461.97. Following the sale, the insider now directly owns 27,493 shares in the company, valued at approximately $137,190.07. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert V. Leffler, Jr. sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $5.00, for a total transaction of $100,000.00. Following the completion of the sale, the director now owns 19,779 shares in the company, valued at $98,895. The disclosure for this sale can be found here. Company insiders own 16.00% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of HCHC. Bank of America Corp DE boosted its stake in shares of HC2 Holdings by 159.1% in the 1st quarter. Bank of America Corp DE now owns 17,065 shares of the technology company’s stock valued at $106,000 after purchasing an additional 10,479 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of HC2 Holdings in the 1st quarter valued at approximately $108,000. Voya Investment Management LLC boosted its stake in shares of HC2 Holdings by 29.2% in the 2nd quarter. Voya Investment Management LLC now owns 20,115 shares of the technology company’s stock valued at $118,000 after purchasing an additional 4,546 shares in the last quarter. American International Group Inc. raised its holdings in HC2 Holdings by 7.1% in the 1st quarter. American International Group Inc. now owns 20,563 shares of the technology company’s stock valued at $127,000 after buying an additional 1,364 shares during the last quarter. Finally, Alliancebernstein L.P. bought a new position in HC2 Holdings in the 2nd quarter valued at approximately $151,000. Institutional investors own 61.12% of the company’s stock.
HC2 Holdings Company Profile
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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