HC2 Holdings Inc (HCHC) Position Cut by California Public Employees Retirement System

California Public Employees Retirement System decreased its position in HC2 Holdings Inc (NYSE:HCHC) by 12.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,670 shares of the technology company’s stock after selling 17,730 shares during the period. California Public Employees Retirement System owned approximately 0.27% of HC2 worth $718,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC acquired a new position in shares of HC2 during the second quarter valued at about $146,000. PEAK6 Investments L.P. increased its position in shares of HC2 by 982.6% during the second quarter. PEAK6 Investments L.P. now owns 30,896 shares of the technology company’s stock worth $181,000 after acquiring an additional 28,042 shares in the last quarter. MYDA Advisors LLC bought a new stake in shares of HC2 during the second quarter worth about $366,000. Schwab Charles Investment Management Inc. increased its position in shares of HC2 by 14.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 87,819 shares of the technology company’s stock worth $514,000 after acquiring an additional 11,019 shares in the last quarter. Finally, CAPROCK Group Inc. increased its position in shares of HC2 by 7.1% during the second quarter. CAPROCK Group Inc. now owns 150,000 shares of the technology company’s stock worth $878,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 57.19% of the company’s stock.

NYSE:HCHC opened at $4.96 on Friday. The company has a quick ratio of 1.55, a current ratio of 3.35 and a debt-to-equity ratio of 2.40. The stock has a market cap of $240.89 million, a PE ratio of -5.01 and a beta of 1.23. HC2 Holdings Inc has a one year low of $4.78 and a one year high of $7.79.

HC2 (NYSE:HCHC) last posted its earnings results on Wednesday, August 8th. The technology company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.24). The business had revenue of $496.78 million for the quarter, compared to the consensus estimate of $454.23 million. HC2 had a return on equity of 44.90% and a net margin of 8.65%. On average, equities analysts predict that HC2 Holdings Inc will post -2.05 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on the stock. ValuEngine raised shares of HC2 from a “hold” rating to a “buy” rating in a research report on Monday, August 20th. Zacks Investment Research raised shares of HC2 from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Thursday.

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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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