Brokerages Set $13.50 Price Target for Primus Telecom (HCHC)

Primus Telecom (NYSE:HCHC) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 12 month consensus price target of $13.50 for the company and are forecasting that the company will post ($0.45) earnings per share for the current quarter, according to Zacks. Zacks has also given Primus Telecom an industry rank of 186 out of 265 based on the ratings given to related companies.

A number of brokerages have recently commented on HCHC. B. Riley increased their price target on shares of Primus Telecom from $11.50 to $13.50 and gave the stock a “buy” rating in a report on Friday, May 11th. ValuEngine raised shares of Primus Telecom from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Zacks Investment Research lowered shares of Primus Telecom from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th.

In other Primus Telecom news, Director Wayne Barr, Jr. bought 200,000 shares of Primus Telecom stock in a transaction that occurred on Friday, March 16th. The shares were bought at an average price of $5.35 per share, with a total value of $1,070,000.00. Following the acquisition, the director now owns 46,596 shares in the company, valued at $249,288.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.00% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in HCHC. CAPROCK Group Inc. bought a new position in shares of Primus Telecom during the 4th quarter valued at $710,000. Schwab Charles Investment Management Inc. grew its holdings in shares of Primus Telecom by 82.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 231,949 shares of the technology company’s stock valued at $1,381,000 after purchasing an additional 105,154 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Primus Telecom by 468.2% during the 4th quarter. Millennium Management LLC now owns 73,300 shares of the technology company’s stock valued at $436,000 after purchasing an additional 60,400 shares during the last quarter. Stone Ridge Asset Management LLC bought a new position in shares of Primus Telecom during the 4th quarter valued at $345,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Primus Telecom by 221.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 60,451 shares of the technology company’s stock valued at $360,000 after purchasing an additional 41,623 shares during the last quarter. 63.13% of the stock is currently owned by institutional investors.

Shares of Primus Telecom remained flat at $$6.08 during trading on Thursday, Marketbeat reports. 274,800 shares of the stock were exchanged, compared to its average volume of 218,369. The company has a market cap of $278.53 million, a price-to-earnings ratio of -6.14 and a beta of 0.80. Primus Telecom has a 1 year low of $6.08 and a 1 year high of $6.26. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 5.19.

Primus Telecom (NYSE:HCHC) last issued its quarterly earnings results on Wednesday, March 14th. The technology company reported ($0.13) EPS for the quarter. The company had revenue of $458.50 million during the quarter, compared to the consensus estimate of $432.20 million. Primus Telecom had a negative return on equity of 51.57% and a negative net margin of 3.97%. research analysts forecast that Primus Telecom will post -1.8 earnings per share for the current fiscal year.

Primus Telecom Company Profile

HC2 Holdings, Inc engages in the construction, marine services, energy, telecommunications, insurance, 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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