Mittleman Brothers, LLC
disclosed that they own a 5.1% stake in HC2 Holdings Inc (NASDAQ:HCHC) in a Schedule 13G disclosure that was filed with the SEC on Wednesday, July 19th. The investor owns 2,174,242 shares of the stock valued at $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 filing is available through Edgar at this hyperlink.
Mittleman Brothers, LLC
provided the following explanation of their ownership:
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A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of 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 valued at $106,000 after buying an additional 10,479 shares during the period. SG Americas Securities LLC bought a new position in shares of HC2 Holdings during the first quarter valued at about $108,000. Russell Investments Group Ltd. bought a new position in shares of HC2 Holdings during the fourth quarter valued at about $119,000. American International Group Inc. increased its position in shares of HC2 Holdings by 7.1% in the first 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 period. Finally, Goldman Sachs Group Inc. increased its position in shares of HC2 Holdings by 7.1% in the first quarter. Goldman Sachs Group Inc. now owns 29,217 shares of the technology company’s stock valued at $181,000 after buying an additional 1,931 shares during the period.
HC2 Holdings Inc (HCHC) traded down 1.31% on Friday, reaching $6.03. 66,765 shares of the company’s stock were exchanged. The company’s market cap is $254.19 million. The stock’s 50 day moving average is $5.95 and its 200 day moving average is $5.97. HC2 Holdings Inc has a 52 week low of $3.80 and a 52 week high of $7.27.
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Several research analysts recently issued reports on the stock. B. Riley reiterated a “buy” rating and set a $9.00 price target on shares of HC2 Holdings in a research report on Tuesday, May 9th. Zacks Investment Research upgraded shares of HC2 Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th.
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