HC2 (HCHC) Cut to Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of HC2 (NYSE:HCHC) from a hold rating to a sell rating in a report issued on Wednesday morning.
According to Zacks, “HC2 Holdings, Inc. is a holding company which seeks to acquire and grow attractive businesses. The company’s operating segments consists of Manufacturing, Marine Services, Insurance, Utilities, Telecommunications, Life Sciences and Other. Its operating subsidiaries consists of Schuff International Inc., is a steel fabricator and erector primarily in the United States and Global Marine Systems Limited, provider of engineering and underwater services on submarine cables. HC2 Holdings, Inc. is headquartered in New York. “
Separately, B. Riley set a $10.00 price target on shares of HC2 and gave the stock a buy rating in a research note on Monday, October 23rd.
Several hedge funds have recently bought and sold shares of HCHC. JPMorgan Chase & Co. raised its stake in shares of HC2 by 51.2% during the third quarter. JPMorgan Chase & Co. now owns 1,574,500 shares of the technology company’s stock worth $8,455,000 after acquiring an additional 533,100 shares in the last quarter. Benefit Street Partners LLC increased its stake in shares of HC2 by 28.7% in the second quarter. Benefit Street Partners LLC now owns 787,821 shares of the technology company’s stock worth $4,632,000 after buying an additional 175,752 shares during the period. Vanguard Group Inc. increased its stake in shares of HC2 by 10.3% in the second quarter. Vanguard Group Inc. now owns 1,504,558 shares of the technology company’s stock worth $8,847,000 after buying an additional 140,747 shares during the period. CAPROCK Group Inc. purchased a new position in shares of HC2 in the fourth quarter worth $710,000. Finally, Northern Trust Corp increased its stake in shares of HC2 by 31.4% in the second quarter. Northern Trust Corp now owns 453,972 shares of the technology company’s stock worth $2,670,000 after buying an additional 108,582 shares during the period. 59.79% of the stock is currently owned by hedge funds and other institutional investors.
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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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