Raging Capital Management LLC Makes New $2.06 Million Investment in HC2 Holdings Inc (NYSE:HCHC)

Raging Capital Management LLC acquired a new position in shares of HC2 Holdings Inc (NYSE:HCHC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 871,224 shares of the technology company’s stock, valued at approximately $2,056,000. Raging Capital Management LLC owned about 1.94% of HC2 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HCHC. Acadian Asset Management LLC boosted its stake in shares of HC2 by 11.8% in the 2nd quarter. Acadian Asset Management LLC now owns 512,180 shares of the technology company’s stock valued at $1,208,000 after purchasing an additional 54,024 shares during the last quarter. MYDA Advisors LLC boosted its stake in shares of HC2 by 79.9% in the 1st quarter. MYDA Advisors LLC now owns 50,000 shares of the technology company’s stock valued at $123,000 after purchasing an additional 22,200 shares during the last quarter. Ardsley Advisory Partners LP bought a new position in shares of HC2 in the 2nd quarter valued at about $119,000. B. Riley Wealth Management Inc. boosted its stake in shares of HC2 by 76.8% in the 1st quarter. B. Riley Wealth Management Inc. now owns 34,403 shares of the technology company’s stock valued at $84,000 after purchasing an additional 14,948 shares during the last quarter. Finally, CAPROCK Group Inc. boosted its stake in shares of HC2 by 30.5% in the 2nd quarter. CAPROCK Group Inc. now owns 143,500 shares of the technology company’s stock valued at $339,000 after purchasing an additional 33,500 shares during the last quarter. 55.26% of the stock is currently owned by hedge funds and other institutional investors.

HCHC has been the topic of several recent research reports. B. Riley set a $11.00 target price on shares of HC2 and gave the company a “buy” rating in a research note on Wednesday, July 31st. ValuEngine lowered shares of HC2 from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Zacks Investment Research lowered shares of HC2 from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th.

Shares of NYSE:HCHC traded down $0.03 during mid-day trading on Wednesday, reaching $2.44. The stock had a trading volume of 11,552 shares, compared to its average volume of 180,935. The firm has a market cap of $110.96 million, a PE ratio of -2.93 and a beta of 1.42. The firm has a 50 day simple moving average of $2.11 and a two-hundred day simple moving average of $2.38. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.92. HC2 Holdings Inc has a twelve month low of $1.90 and a twelve month high of $6.25.

About HC2

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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Institutional Ownership by Quarter for HC2 (NYSE:HCHC)

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