HC2 Holdings Inc (HCHC) Stake Raised by Roumell Asset Management LLC

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Roumell Asset Management LLC lifted its holdings in shares of HC2 Holdings Inc (NYSE:HCHC) by 600.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 295,255 shares of the technology company’s stock after purchasing an additional 253,088 shares during the period. HC2 comprises approximately 3.8% of Roumell Asset Management LLC’s investment portfolio, making the stock its 13th largest holding. Roumell Asset Management LLC owned 0.66% of HC2 worth $1,727,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Advisors LLC bought a new stake in HC2 in the 4th quarter valued at about $126,000. Clear Harbor Asset Management LLC bought a new stake in HC2 in the 2nd quarter valued at about $146,000. MYDA Advisors LLC bought a new stake in HC2 in the 2nd quarter valued at about $366,000. Millennium Management LLC raised its stake in HC2 by 468.2% in the 4th quarter. Millennium Management LLC now owns 73,300 shares of the technology company’s stock valued at $436,000 after acquiring an additional 60,400 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in HC2 by 14.3% in the 2nd 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 during the period. Institutional investors own 58.25% of the company’s stock.

A number of equities research analysts recently issued reports on the company. ValuEngine upgraded HC2 from a “hold” rating to a “buy” rating in a research note on Monday, August 20th. B. Riley boosted their price objective on HC2 from $11.50 to $13.50 and gave the company a “buy” rating in a research note on Friday, May 11th. Finally, Zacks Investment Research upgraded HC2 from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th.

Shares of HCHC traded down $0.07 during midday trading on Wednesday, hitting $6.21. 204 shares of the company traded hands, compared to its average volume of 164,597. HC2 Holdings Inc has a one year low of $4.39 and a one year high of $7.79. The stock has a market cap of $280.32 million, a PE ratio of -6.31 and a beta of 0.96. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 4.16.

HC2 (NYSE:HCHC) last announced its quarterly earnings results on Wednesday, August 8th. The technology company reported ($0.69) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.24). HC2 had a net margin of 0.32% and a negative return on equity of 51.25%. The company had revenue of $496.78 million for the quarter, compared to the consensus estimate of $454.23 million. analysts expect that HC2 Holdings Inc will post -2.22 earnings per share for the current fiscal year.

HC2 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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Institutional Ownership by Quarter for HC2 (NYSE:HCHC)

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