B. Riley Wealth Management Inc. Buys New Holdings in HC2 Holdings Inc (NYSE:HCHC)


B. Riley Wealth Management Inc. acquired a new position in shares of HC2 Holdings Inc (NYSE:HCHC) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 12,648 shares of the technology company’s stock, valued at approximately $77,000.

A number of other large investors have also recently bought and sold shares of the business. Clear Harbor Asset Management LLC lifted its stake in HC2 by 42.0% during the third quarter. Clear Harbor Asset Management LLC now owns 35,500 shares of the technology company’s stock worth $189,000 after purchasing an additional 10,500 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of HC2 by 14.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 87,819 shares of the technology company’s stock valued at $514,000 after acquiring an additional 11,019 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in shares of HC2 by 150.0% in the third quarter. Gamco Investors INC. ET AL now owns 25,000 shares of the technology company’s stock valued at $153,000 after acquiring an additional 15,000 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of HC2 by 122.7% in the third quarter. Citadel Advisors LLC now owns 29,640 shares of the technology company’s stock valued at $181,000 after acquiring an additional 16,331 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of HC2 by 1.0% in the third quarter. Vanguard Group Inc. now owns 1,927,282 shares of the technology company’s stock valued at $11,795,000 after acquiring an additional 18,956 shares in the last quarter. Institutional investors own 56.39% of the company’s stock.

Shares of HCHC opened at $3.25 on Friday. The company has a debt-to-equity ratio of 2.40, a current ratio of 3.35 and a quick ratio of 3.35. The stock has a market cap of $145.07 million, a PE ratio of -3.28 and a beta of 1.35. HC2 Holdings Inc has a fifty-two week low of $2.31 and a fifty-two week high of $7.79.

HC2 (NYSE:HCHC) last announced its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.47. HC2 had a net margin of 8.65% and a negative return on equity of 24.50%. The firm had revenue of $501.36 million during the quarter, compared to the consensus estimate of $479.05 million. On average, sell-side analysts anticipate that HC2 Holdings Inc will post -1.54 EPS for the current year.

Several equities analysts recently commented on HCHC shares. ValuEngine raised HC2 from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Zacks Investment Research raised HC2 from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Thursday, November 8th.

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About HC2

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.

Further Reading: Stock Symbol

Institutional Ownership by Quarter for HC2 (NYSE:HCHC)

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