HC2 (HCHC) Downgraded to Sell at Zacks Investment Research
HC2 (NYSE:HCHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
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 $14.00 price objective on shares of HC2 and gave the stock a “buy” rating in a research report on Friday, March 8th.
Institutional investors have recently made changes to their positions in the business. Beacon Pointe Wealth Advisors LLC purchased a new position in HC2 during the 4th quarter worth $27,000. Paloma Partners Management Co purchased a new position in HC2 during the 4th quarter worth $31,000. Jane Street Group LLC purchased a new position in HC2 during the 4th quarter worth $32,000. B. Riley Wealth Management Inc. purchased a new position in HC2 during the 3rd quarter worth $77,000. Finally, D. E. Shaw & Co. Inc. raised its position in HC2 by 39.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 14,279 shares of the technology company’s stock worth $38,000 after buying an additional 4,022 shares during the last quarter. Institutional investors own 61.38% of the company’s stock.
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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