The Zacks Investment Research lowers the Stock rating of HC2 Holdings Inc (HCHC)

The Zacks Investment Research lowers the Stock rating of HC2 Holdings Inc (HCHC)

HC2 Holdings Inc (NASDAQ:HCHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “HC2 Holdings Inc. is an integrated facilities-based communications services provider. The Company offers international and domestic voice, voice-over-Internet protocol (VOIP), Internet, wireless, data and hosting services to business and residential retail customers and other carriers located in North America, Australia, and Europe. HC2 Holdings, Inc., formerly known as PTGi Holding Inc., is headquartered in Herndon, Virginia. “

Separately, B. Riley reissued a “buy” rating and set a $9.00 price objective on shares of HC2 Holdings in a research note on Sunday, August 14th.

HC2 Holdings (NASDAQ:HCHC) opened at 5.52 on Tuesday. HC2 Holdings has a 12-month low of $3.25 and a 12-month high of $7.97. The stock’s market capitalization is $195.61 million. The firm’s 50-day moving average is $4.99 and its 200-day moving average is $4.38.

HC2 Holdings (NASDAQ:HCHC) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.02 earnings per share for the quarter. The company had revenue of $359.30 million for the quarter, compared to analysts’ expectations of $280.98 million. Analysts predict that HC2 Holdings will post ($1.17) EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in HCHC. Bridgeway Capital Management Inc. raised its stake in shares of HC2 Holdings by 29.9% in the second quarter. Bridgeway Capital Management Inc. now owns 393,029 shares of the company’s stock worth $1,690,000 after buying an additional 90,429 shares during the last quarter. Nomura Holdings Inc. raised its stake in shares of HC2 Holdings by 100.0% in the second quarter. Nomura Holdings Inc. now owns 239,580 shares of the company’s stock worth $1,030,000 after buying an additional 119,790 shares during the last quarter. Finally, Wingspan Investment Management LP acquired a new stake in shares of HC2 Holdings during the second quarter worth approximately $6,289,000.

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