Mittleman Brothers LLC Sells 54,276 Shares of HC2 Holdings Inc (HCHC)

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Mittleman Brothers LLC reduced its position in shares of HC2 Holdings Inc (NYSE:HCHC) by 1.8% in the third quarter, HoldingsChannel.com reports. The firm owned 3,034,023 shares of the technology company’s stock after selling 54,276 shares during the quarter. HC2 makes up 8.6% of Mittleman Brothers LLC’s investment portfolio, making the stock its 4th largest position. Mittleman Brothers LLC owned 0.07% of HC2 worth $18,568,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. B. Riley Financial Inc. grew its stake in shares of HC2 by 29.1% during the 2nd quarter. B. Riley Financial Inc. now owns 1,807,157 shares of the technology company’s stock valued at $10,571,000 after acquiring an additional 407,156 shares during the period. BlackRock Inc. grew its stake in shares of HC2 by 15.2% during the 2nd quarter. BlackRock Inc. now owns 2,246,847 shares of the technology company’s stock valued at $13,144,000 after acquiring an additional 296,743 shares during the period. Canton Hathaway LLC bought a new position in shares of HC2 during the 3rd quarter valued at approximately $1,761,000. Roumell Asset Management LLC grew its stake in shares of HC2 by 600.2% during the 2nd quarter. Roumell Asset Management LLC now owns 295,255 shares of the technology company’s stock valued at $1,727,000 after acquiring an additional 253,088 shares during the period. Finally, Millennium Management LLC grew its stake in shares of HC2 by 851.9% during the 2nd quarter. Millennium Management LLC now owns 267,493 shares of the technology company’s stock valued at $1,565,000 after acquiring an additional 239,392 shares during the period. Institutional investors and hedge funds own 57.19% of the company’s stock.

Shares of NYSE:HCHC opened at $5.33 on Wednesday. The company has a market cap of $235.61 million, a P/E ratio of -5.38 and a beta of 1.23. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 4.16. HC2 Holdings Inc has a 12-month low of $4.78 and a 12-month high of $7.79.

HC2 (NYSE:HCHC) last announced its quarterly earnings data on Wednesday, August 8th. The technology company reported ($0.69) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.24). The company had revenue of $496.78 million for the quarter, compared to the consensus estimate of $454.23 million. HC2 had a net margin of 0.32% and a negative return on equity of 51.25%. On average, sell-side analysts expect that HC2 Holdings Inc will post -2.22 earnings per share for the current year.

HCHC has been the subject of a number of recent research reports. ValuEngine upgraded HC2 from a “hold” rating to a “buy” rating in a research note on Monday, August 20th. Zacks Investment Research upgraded HC2 from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th.

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HC2 Profile

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