The New Hudson Bay Credit Management Llc Holding in Hc2 Holdings, Inc
Hudson Bay Credit Management Llc filed with the SEC SC 13D/A form for Hc2 Holdings, Inc. The form can be accessed here: 000090266416008354. As reported in Hudson Bay Credit Management Llc’s form, the filler as of late owns 8.9% or 3,725,838 shares of the Utilities & Telecommunications–company.
Hc2 Holdings, Inc stake is a new one for the and it was filed because of activity on October 7, 2016. We feel this shows Hudson Bay Credit Management Llc’s positive view for the stock.
Reasons Why Hudson Bay Credit Management Llc Bought – Hc2 Holdings, Inc Stock
PURPOSE OF TRANSACTION
|CUSIP No. 404139107||SCHEDULE 13D/A||Page 6 of 9 Pages|
|terms of the Certificate of Designation of Series A Convertible Participating Preferred Stock (the "Series A Certificate of Designation"), such amount representing the number of shares of Common Stock into which the 12,499 shares of Series A Preferred Stock held by the HB Fund is currently convertible pursuant to the terms of the Series A Certificate of Designation and (ii) in consideration of the conversion referenced in clause (i) above, the Company will issue to the HB Fund in exchange for the single remaining share of Series A Preferred Stock it holds, in an exchange transaction exempt from the registration requirements of the Securities Act under Section 3(a)(9) of the Securities Act, 770,926 shares of Common Stock. The Series A Certificate of Designation has not been amended or otherwise altered in connection with the Voluntary Conversion.The closing of the Voluntary Conversion is expected to occur on October 12, 2016 or shortly thereafter.|
|The summary of the Voluntary Conversion Agreement is not complete, and is qualified in its entirety by reference to the text of the agreement, which is referenced as Exhibit 7 to this Schedule 13D.The Voluntary Conversion Agreement is incorporated by reference to Exhibit 10.1 of the Current Report on Form 8-K filed by the Company on October 11, 2016 (the "Form 8-K").|
Hc2 Holdings, Inc Institutional Sentiment
Latest Security and Exchange filings show 54 investors own Hc2 Holdings, Inc. The institutional ownership in Q3 2015 is high, at 37.89% of the outstanding shares. This is increased by 4401142 the total institutional shares. 13427823 were the shares owned by these institutional investors. In total 5 funds opened new Hc2 Holdings, Inc stakes, 19 increased stakes. There were 12 that closed positions and 16 reduced them.
2 managers had the stock in their top Ten. Notable investors are: Dg Capital Management Llc, Mittleman Brothers Llc, Steel Partners Holdings L.P., Wingspan Investment Management Lp..
Fny Managed Accounts Llc is an institutional investor bullish on Hc2 Holdings, Inc, owning 50000 shares as of Q3 2015 for less than 0.01% of its portfolio. Sander Gerber Hudson Bay Capital Management Lp owns 876542 shares or 1.20% of its portfolio. NY Dg Capital Management Llc have 5.95% of their stock portfolio for 729483 shares. Further, Caspian Capital Lp reported stake worth 1.19% of its US stock portfolio. The RI Whalerock Point Partners Llc owns 1076222 shares. Hc2 Holdings, Inc is 3.25% of the manager’s US portfolio.
HC2 Holdings, Inc. is a holding company. The Company operates through seven segments: Manufacturing (Schuff), Marine Services (GMSL), Insurance, Telecommunications (PTGi-ICS), Utilities, Life Sciences and Other. Schuff fabricates and erects structural steel for commercial and industrial construction projects, such as high- and low-rise buildings and office complexes, hospitals, dams, bridges, mines and power plants. GMSL is an offshore engineering company focused on specialist subsea services across the market sectors, such as telecommunications, oil and gas, and offshore power. The Insurance segment, CIG, provides long-term care, life and annuity coverage to approximately 99,000 individuals through its Insurance Companies. The PTGi-ICS business unit provides customers with Internet-based protocol and time-division multiplexing (TDM) access and transport of long distance voice minutes. The Life Sciences segment focuses on the development of technologies and products in healthcare.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment increased to 2.06 in 2016 Q2. Its up 0.51, from 1.55 in 2016Q1. The ratio is positive, as 9 funds sold all HC2 Holdings Inc shares owned while 9 reduced positions. 11 funds bought stakes while 26 increased positions. They now own 22.26 million shares or 1.27% more from 21.98 million shares in 2016Q1.
Deutsche Bank & Trust Ag, a Germany-based fund reported 648,703 shares. Blackrock Advsr Ltd Com holds 10,039 shares or 0% of its portfolio. Gabelli Funds Ltd, a New York-based fund reported 270,500 shares. Blackrock Fund Advsr has 0% invested in the company for 860,289 shares. Jpmorgan Chase owns 217 shares or 0% of their US portfolio. Rhumbline Advisers accumulated 25,819 shares or 0% of the stock. Tiaa Cref Inv Ltd Co reported 192,371 shares or 0% of all its holdings. Citigroup accumulated 3,526 shares or 0% of the stock. Manufacturers Life The holds 0.01% of its portfolio in HC2 Holdings Inc (NYSEMKT:HCHC) for 1.03M shares. Mittleman Brothers Limited Liability Company reported 1.64M shares or 3.17% of all its holdings. Morgan Stanley last reported 0% of its portfolio in the stock. Steel Partners Holding Ltd Partnership has 1.19% invested in the company for 1.00M shares. Gabelli Secs has 0.02% invested in the company for 37,100 shares. Geode Capital Mgmt Ltd Liability Com holds 0% or 175,176 shares in its portfolio. Mycio Wealth holds 0% of its portfolio in HC2 Holdings Inc (NYSEMKT:HCHC) for 79 shares.
Analysts await HC2 Holdings Inc (NYSEMKT:HCHC) to report earnings on November, 7. They expect $-0.16 EPS, up 27.27% or $0.06 from last year’s $-0.22 per share. After $-0.01 actual EPS reported by HC2 Holdings Inc for the previous quarter, Wall Street now forecasts 1,500.00% negative EPS growth.
The stock decreased 4.29% or $0.25 during the last trading session, hitting $5.58. About 262,156 shares traded hands. HC2 Holdings Inc (NYSEMKT:HCHC) has risen 51.04% since March 8, 2016 and is uptrending. It has outperformed by 41.72% the S&P500.
HC2 Holdings, Inc. is a holding company. The company has a market cap of $202.25 million. The Firm operates through seven divisions: Manufacturing , Marine Services (GMSL), Insurance, Telecommunications (PTGi-ICS), Utilities, Life Sciences and Other. It currently has negative earnings. Schuff fabricates and erects structural steel for commercial and industrial construction projects, such as high- and low-rise buildings and office complexes, hospitals, dams, bridges, mines and power plants.
More news for HC2 Holdings Inc (NYSEMKT:HCHC) were recently published by: Streetinsider.com, which released: “Form 8-K HC2 HOLDINGS, INC. For: Oct 11” on October 11, 2016. Toledoblade.com‘s article titled: “Andersons details its objections to buyout” and published on June 02, 2016 is yet another important article.
According to Zacks Investment Research, “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.”
HCHC Company Profile
HC2 Holdings, Inc., incorporated on February 4, 1994, is a holding company. The Firm operates through seven divisions: Manufacturing, Marine Services, Insurance, Telecommunications, Utilities, Life Sciences and Other. The Company’s subsidiaries include Schuff International, Inc. (Schuff), which is a structural steel fabricator and erector in the United States; Global Marine Systems Limited (GMSL), a well-known provider of engineering and underwater services on submarine cables; Continental Insurance Inc., a platform for its run-off long-term care business, through its two insurance companies, United Teacher Associates Insurance Company (UTA) and Continental General Insurance Company (CGI); PTGi-International Carrier Services (PTGi-ICS), a well-known provider of Internet protocol and time-division multiplexing (TDM) access and transport of long distance voice minutes; American Natural Gas (ANG), a compressed natural gas fueling company, and Pansend Life Sciences, Ltd. (Pansend), which is focused on supporting healthcare and biotechnology product development. The Company’s geographical divisions are the United States and the United Kingdom.
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