Quinn Opportunity Partners LLC purchased a new stake in shares of HC2 Holdings Inc (NYSE:HCHC) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 88,207 shares of the technology company’s stock, valued at approximately $216,000.
Other hedge funds have also recently modified their holdings of the company. Beacon Pointe Wealth Advisors LLC acquired a new position in shares of HC2 during the 4th quarter valued at $27,000. Paloma Partners Management Co acquired a new position in shares of HC2 during the 4th quarter valued at $31,000. Jane Street Group LLC acquired a new position in shares of HC2 during the 4th quarter valued at $32,000. D. E. Shaw & Co. Inc. increased its position in shares of HC2 by 39.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 14,279 shares of the technology company’s stock valued at $38,000 after purchasing an additional 4,022 shares during the period. Finally, B. Riley Wealth Management Inc. increased its position in shares of HC2 by 53.8% during the 4th quarter. B. Riley Wealth Management Inc. now owns 19,455 shares of the technology company’s stock valued at $51,000 after purchasing an additional 6,807 shares during the period. Institutional investors own 63.51% of the company’s stock.
Shares of NYSE HCHC opened at $2.85 on Friday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market capitalization of $130.42 million, a P/E ratio of -3.48 and a beta of 1.64. HC2 Holdings Inc has a 52-week low of $2.07 and a 52-week high of $6.59.
Several brokerages have recently issued reports on HCHC. Zacks Investment Research cut HC2 from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. B. Riley set a $14.00 price target on HC2 and gave the company a “buy” rating in a research report on Friday, March 8th.
In related news, CFO Michael J. Sena bought 9,600 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average cost of $2.61 per share, for a total transaction of $25,056.00. Following the acquisition, the chief financial officer now directly owns 403,702 shares of the company’s stock, valued at approximately $1,053,662.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Philip Falcone bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average price of $2.67 per share, for a total transaction of $53,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,175,275 shares in the company, valued at $5,807,984.25. The disclosure for this purchase can be found here. Insiders purchased a total of 35,600 shares of company stock worth $94,116 over the last 90 days. Insiders own 17.10% of the company’s stock.
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HC2 Company Profile
HC2 Holdings, Inc provides construction, marine services, energy, telecommunications, insurance, life sciences, broadcasting, and other services in the United States, the United Kingdom, and internationally. The company models, details, fabricates, and erects structural steel for commercial and industrial, and infrastructure construction projects, including building 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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