Mittleman Brothers, LLC
stated that they own a 5.1% stake in HC2 Holdings Inc (NASDAQ:HCHC) in a Form 13G disclosure that was filed with the Securities and Exchange Commission on Wednesday, July 19th. The investor owns 2,174,242 shares of the stock worth approximately $13,110,679. The reporting parties listed on the disclosure included Mittleman Brothers, LLC, Master Control LLC, Mittleman Investment Management, LLC, Christopher P Mittleman, David J Mittleman and Philip C Mittleman. The disclosure is available through the SEC website at this link.
Mittleman Brothers, LLC
provided the following explanation of their ownership:
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Other hedge funds have also bought and sold shares of the company. Bank of America Corp DE raised its stake in HC2 Holdings by 159.1% in the first quarter. Bank of America Corp DE now owns 17,065 shares of the technology company’s stock worth $106,000 after buying an additional 10,479 shares during the last quarter. SG Americas Securities LLC acquired a new stake in HC2 Holdings during the first quarter worth approximately $108,000. Russell Investments Group Ltd. acquired a new stake in HC2 Holdings during the fourth quarter worth approximately $119,000. American International Group Inc. raised its stake in HC2 Holdings by 7.1% in the first quarter. American International Group Inc. now owns 20,563 shares of the technology company’s stock worth $127,000 after buying an additional 1,364 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in HC2 Holdings by 7.1% in the first quarter. Goldman Sachs Group Inc. now owns 29,217 shares of the technology company’s stock worth $181,000 after buying an additional 1,931 shares during the last quarter.
Shares of HC2 Holdings Inc (HCHC) traded down 1.31% during mid-day trading on Friday, hitting $6.03. The company had a trading volume of 66,765 shares. The company’s market capitalization is $254.19 million. The company has a 50-day moving average price of $5.95 and a 200-day moving average price of $5.97. HC2 Holdings Inc has a 1-year low of $3.80 and a 1-year high of $7.27.
HCHC has been the subject of several research analyst reports. B. Riley reaffirmed a “buy” rating and issued a $10.50 price objective on shares of HC2 Holdings in a report on Sunday, May 14th. Zacks Investment Research raised HC2 Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th.
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