Zacks Investment Research cut shares of HC2 Holdings Inc (NASDAQ:HCHC) from a buy rating to a hold rating in a report published 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 restated a buy rating and issued a $9.00 price target on shares of HC2 Holdings in a research report on Sunday, August 14th.

Shares of HC2 Holdings (NASDAQ:HCHC) opened at 5.16 on Tuesday. The firm’s market capitalization is $182.85 million. HC2 Holdings has a one year low of $3.25 and a one year high of $7.97. The company has a 50-day moving average price of $5.02 and a 200 day moving average price of $4.40.

HC2 Holdings (NASDAQ:HCHC) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.02 earnings per share (EPS) for the quarter. The business earned $359.30 million during the quarter, compared to analyst estimates of $280.98 million. Analysts expect that HC2 Holdings will post ($1.17) earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the company. Wingspan Investment Management LP purchased a new position in HC2 Holdings during the second quarter valued at $6,289,000. Bridgeway Capital Management Inc. boosted its position in HC2 Holdings by 29.9% in the second quarter. Bridgeway Capital Management Inc. now owns 393,029 shares of the company’s stock valued at $1,690,000 after buying an additional 90,429 shares during the last quarter. Finally, Nomura Holdings Inc. boosted its position in HC2 Holdings by 100.0% in the second quarter. Nomura Holdings Inc. now owns 239,580 shares of the company’s stock valued at $1,030,000 after buying an additional 119,790 shares during the last quarter.

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