HC2 Holdings, Inc. (HCHC) Shares Sold by B. Riley Financial Inc.

B. Riley Financial Inc. lessened its position in HC2 Holdings, Inc. (NYSE:HCHC) by 10.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,286,642 shares of the technology company’s stock after selling 147,869 shares during the quarter. HC2 makes up about 1.9% of B. Riley Financial Inc.’s portfolio, making the stock its 3rd biggest position. B. Riley Financial Inc. owned about 2.99% of HC2 worth $6,794,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE raised its position in HC2 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 buying an additional 10,479 shares during the last quarter. Voya Investment Management LLC raised its position in HC2 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 buying an additional 4,546 shares during the last quarter. American International Group Inc. raised its position in HC2 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. Alliancebernstein L.P. acquired a new stake in HC2 in the 2nd quarter valued at approximately $151,000. Finally, New York State Common Retirement Fund raised its position in HC2 by 5.6% in the 2nd quarter. New York State Common Retirement Fund now owns 26,200 shares of the technology company’s stock valued at $154,000 after buying an additional 1,399 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

HC2 Holdings, Inc. (NYSE:HCHC) traded down $0.18 during trading hours on Tuesday, hitting $5.45. The company’s stock had a trading volume of 214,000 shares, compared to its average volume of 216,739. HC2 Holdings, Inc. has a 52-week low of $4.30 and a 52-week high of $7.27. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 6.06.

HC2 (NYSE:HCHC) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.07). The company had revenue of $406.40 million for the quarter, compared to analyst estimates of $428.04 million. HC2 had a negative return on equity of 67.69% and a negative net margin of 6.13%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.20) EPS. research analysts forecast that HC2 Holdings, Inc. will post -1.11 EPS for the current fiscal year.

In other news, insider Suzi R. Herbst sold 5,303 shares of HC2 stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $4.99, for a total transaction of $26,461.97. Following the completion of the transaction, the insider now directly owns 27,493 shares in the company, valued at approximately $137,190.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert V. Leffler, Jr. sold 20,000 shares of HC2 stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $5.00, for a total value of $100,000.00. Following the transaction, the director now owns 19,779 shares of the company’s stock, valued at $98,895. The disclosure for this sale can be found here. 16.00% of the stock is owned by insiders.

HCHC has been the topic of several recent analyst reports. B. Riley reaffirmed a “buy” rating and set a $10.00 price target on shares of HC2 in a research report on Sunday, August 13th. Zacks Investment Research raised HC2 from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th.

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HC2 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.

Institutional Ownership by Quarter for HC2 (NYSE:HCHC)

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