In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Hc2 Holdings Inc. (NYSEMKT:HCHC) reported that Mittleman Brothers, Llc has picked up 1,713,517 of common stock as of 2017-07-19.
The acquisition brings the aggregate amount owned by Mittleman Brothers, Llc to a total of 1,713,517 representing a 4.0% in the company.
For those not familiar with the company, 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.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2016-11-14, Falcone picked up 21,000 at a purchase price of $4.53. This brings their total holding to 805,827 as of the date of the filing.
On the sell side, the most recent transaction saw Gerber unload 522,000 shares at a sale price of $7.50. This brings their total holding to 254,372.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Hc2 Holdings Inc. (NYSEMKT:HCHC) as things move forward to see if its progress aligns with these transactions.Subscribe below and we’ll keep you on top of what’s happening before it moves markets.