Whalerock Point Partners LLC Has $4.78 Million Position in HC2 Holdings Inc (HCHC)

Whalerock Point Partners LLC reduced its stake in HC2 Holdings Inc (NYSE:HCHC) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 802,567 shares of the technology company’s stock after selling 33,410 shares during the quarter. HC2 makes up approximately 1.5% of Whalerock Point Partners LLC’s investment portfolio, making the stock its 9th biggest position. Whalerock Point Partners LLC owned approximately 1.86% of HC2 worth $4,775,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. PEAK6 Investments L.P. bought a new position in HC2 in the 3rd quarter worth $179,000. Schwab Charles Investment Management Inc. increased its stake in HC2 by 19.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 126,795 shares of the technology company’s stock worth $670,000 after buying an additional 20,764 shares in the last quarter. Wells Fargo & Company MN increased its stake in HC2 by 48.6% in the 3rd quarter. Wells Fargo & Company MN now owns 58,523 shares of the technology company’s stock worth $309,000 after buying an additional 19,148 shares in the last quarter. JPMorgan Chase & Co. increased its stake in HC2 by 51.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,574,500 shares of the technology company’s stock worth $8,455,000 after buying an additional 533,100 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in HC2 by 8.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 147,790 shares of the technology company’s stock worth $780,000 after buying an additional 12,032 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors.

A number of brokerages have issued reports on HCHC. B. Riley set a $10.00 price target on HC2 and gave the stock a “buy” rating in a research note on Thursday, October 12th. Zacks Investment Research upgraded HC2 from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd.

Shares of HC2 Holdings Inc (NYSE HCHC) remained flat at $$6.45 during mid-day trading on Tuesday. The company’s stock had a trading volume of 187,700 shares, compared to its average volume of 128,556. HC2 Holdings Inc has a fifty-two week low of $4.30 and a fifty-two week high of $7.27. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 6.06. The firm has a market cap of $280.29, a PE ratio of -2.51 and a beta of 0.66.

HC2 (NYSE:HCHC) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.07). The firm had revenue of $406.40 million for the quarter, compared to analysts’ expectations of $428.04 million. HC2 had a negative net margin of 6.13% and a negative return on equity of 67.69%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.20) EPS. equities research analysts expect that HC2 Holdings Inc will post -1.11 EPS for the current year.

In other news, Director Robert V. Leffler, Jr. sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $5.00, for a total transaction of $100,000.00. Following the completion of the transaction, the director now owns 19,779 shares in the company, valued at $98,895. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Suzi R. Herbst sold 5,303 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $4.99, for a total value of $26,461.97. Following the transaction, the insider now owns 27,493 shares of the company’s stock, valued at approximately $137,190.07. The disclosure for this sale can be found here. Company insiders own 16.00% of the company’s stock.

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HC2 Company Profile

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