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HC2 Holdings, Inc. (HCHC)

NYSE - NYSE Delayed Price. Currency in USD
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2.51000.0000 (0.00%)
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Previous Close2.5100
Open2.5500
Bid2.5000 x 1800
Ask2.5100 x 1400
Day's Range2.3800 - 2.5500
52 Week Range1.2900 - 4.3300
Volume1,132,334
Avg. Volume367,598
Market Cap117.476M
Beta (5Y Monthly)2.07
PE Ratio (TTM)N/A
EPS (TTM)-2.3700
Earnings DateAug 10, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateAug 28, 2013
1y Target Est8.50
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  • GlobeNewswire

    Usio and Mastercard’s City Possible Team Up to Speed Assistance to Families in Need

    Usio’s prepaid card technology now featured as part of Mastercard’s City Possible programSAN ANTONIO, Sept. 17, 2020 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq: USIO), an integrated electronic payment solutions provider, and Mastercard (NYSE: MA), a technology company in the global payments industry, today announced efforts to continue to integrate Usio’s prepaid platform into Mastercard's City Possible™ network. “What began as an introduction from Mastercard to help the Mayors Fund for Los Angeles provide direct financial assistance to Los Angeles residents whose livelihoods were hardest hit by the pandemic is now evolving into a much deeper relationship between Usio and Mastercard’s City Possible network,” said Houston Frost, Senior Vice President, Prepaid Products, of Usio. “Through Mastercard's City Possible program and Accelerator for America, we have been able to rapidly deploy our prepaid card solutions to dozens of organizations across the country to get money into the hands of those who need it most.” Prepaid card solutions provide organizations with a simple way to distribute funds, and the recipients get an instrument to access the money immediately, without the need of a bank account or check cashing.“At the height of the pandemic in Los Angeles, hundreds of thousands of people were left without an income, it was clear there would be a dire and immediate need for direct financial assistance,” commented Miguel Gamino, Executive Vice President Enterprise Partnerships and Head of Global Cities, Mastercard. “Usio developed an innovative solution utilizing their unique technology to assist those in need. With Usio’s support, we have expanded this comprehensive program to five of the ten largest cities in the United States. We look forward to expanding our relationship with Usio as the City Possible network continues to grow.”La Paz Chattanooga is an organization that has partnered with Usio and City Possible to disburse financial resources to those in need, specifically in the Latinx community in and around the Chattanooga, Tennessee area.Stacy Johnson, La Paz Executive Director, commented, "The most important thing La Paz can do as an organization during this global pandemic is continue to advocate for inclusion of the Latinx community and ensure access to services and important information. Our La Paz team is working alongside so many amazing partners like Usio, City Possible and others in our local community. We ask you to join us and share this important information so that no one is uninformed.”Usio’s Card platform offers several key features that ideally complement the funds disbursement needs of many of the programs managed under the Master City Possible network:The cards provide cash access. The cards can be used everywhere, including ATMs and retail outlets. Organizations providing the cards can configure the program to allow or restrict cash access and certain merchant categories, if desired.The cards can be reloaded, up to a maximum balance of $2,500 at any given time. Organizations can continue their support by adding funds as needed.The cards can have merchant category code (MCC) restrictions, allowing purchases to be limited to specific merchant types based on each individual partner’s needs and/or requests.The cards can be sent virtually via text or email. These days, each day can make a difference. Recipients can immediately collect and use a virtual card online. The virtual card can also be added to Apple Pay, Samsung Pay or Google Pay.About City Possible™Pioneered by Mastercard, City Possible is a new model for urban collaboration where cities, companies and communities come together to address common challenges. For the first time in history, more than half the world’s population lives in a city. As the world becomes more urbanized, City Possible looks to reshape cities for the digital age.About MastercardMastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments, and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business, and managing finances – easier, more secure, and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.About Usio, Inc.Usio, Inc. (Nasdaq: USIO), a leading integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services to their clients. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas, and Franklin, Tennessee, just outside of Nashville. Websites: www.usio.com, www.singularpayments.com, www.payfacinabox.com, and www.akimbocard.com. Find us on Facebook® and Twitter.FORWARD-LOOKING STATEMENTS DISCLAIMERExcept for the historical information contained herein, the matters discussed in this release include forward-looking statements which are covered by safe harbors. Those statements include, but may not be limited to, all statements regarding management's intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as "believe," "intend," "look forward," "anticipate," "schedule,” and "expect" among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company's business that could cause actual results to vary, including risks related to the COVID-19 pandemic and its effect on the economy, risks related to the realization of the anticipated opportunities from the Singular acquisition, the management of the Company's growth, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the volatility of the stock price, the need to obtain additional financing, risks associated with new tax legislation, and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2019. One or more of these factors have affected, and in the future, could affect the Company’s businesses and financial results in the future and could cause actual results to differ materially from plans and projections. The Company believes that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.Contact:Investor Relations:Joe Hassett Gregory FCA joeh@gregoryfca.com 484-686-6600

  • GlobeNewswire

    HC2 Holdings Announces Rights Offering for Common Stock

    NEW YORK, Sept. 09, 2020 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or the “Company”) (NYSE: HCHC), a diversified holding company, announced today that its Board of Directors (the “Board”) has approved a plan to proceed with steps to launch a $65 million rights offering for its common stock. The Company has filed a registration statement on Form S-3 with the Securities and Exchange Commission (“SEC”). Subject to final approval of the rights offering by the Board, the Company expects to launch the rights offering after the Registration Statement is declared effective by the SEC. All HC2 stockholders will have the opportunity to participate in the offering and subscribe for their basic subscription amount of newly issued shares of common stock in proportion to their respective existing ownership amounts. HC2 stockholders who exercise their respective full basic subscription rights will have over-subscription privileges giving such HC2 stockholders the option to subscribe for any shares of common stock that remain unsubscribed at the expiration of the rights offering. If the aggregate subscriptions (basic subscriptions plus over-subscriptions) exceed the amount offered in the rights offering, then the aggregate over-subscription amount will be pro-rated among the stockholders exercising their respective over-subscription privileges based on the basic subscription amounts of such stockholders. The rights offering will be partially backstopped by Lancer Capital LLC (“Lancer Capital”), an investment fund led by Avram Glazer, the Chairman of the Board and the Company’s largest stockholder. Lancer Capital has agreed to exercise and purchase its basic subscription amount and will participate in the oversubscription privileges as described above for a total of up to $35 million (inclusive of the basic subscription amount). Lancer Capital’s backstop commitment will be effected in the manner set forth in the Investment Agreement entered into with the Company on the date hereof, a copy of which will be filed by the Company with the SEC.HC2 expects to use the proceeds from the rights offering for general corporate purposes. The Company expects to distribute to each holder of the Company’s common stock one transferable subscription right to purchase shares of the Company’s common stock at a price of $2.27 per whole share for each share of the Company’s common stock held as of the rights offering record date which will be fixed when and if the Board declares the dividend constituting the rights to be issued in the rights offering. Holders of the Company’s existing preferred stock that are entitled to participate in dividend distributions to holders of the Company’s common stock will also be entitled to participate in the rights offering.Further details of the rights offering will be publicly announced and a prospectus supplement containing the detailed terms of the rights offering will be filed with the SEC following clearance of the registration statement by the SEC and final approval of the rights offering by the Board.A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The information in this press release is not complete and is subject to change. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any offer, solicitation or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of such state or jurisdiction. The rights offering will be made only by means of a prospectus and a related prospectus supplement. Copies of the prospectus and related prospectus supplement, when they become available, will be distributed to all eligible stockholders as of the rights offering record date and may also be obtained free of charge at the website maintained by the SEC at www.sec.gov or by contacting the information agent for the rights offering.About HC2HC2 Holdings, Inc. is a publicly traded (NYSE:HCHC) diversified holding company, which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. HC2 has a diverse array of operating subsidiaries across multiple reportable segments, including Construction, Energy, Telecommunications, Life Sciences, Broadcasting, Insurance and Other. HC2's largest operating subsidiary is DBM Global Inc., a family of companies providing fully integrated structural and steel construction services. Founded in 1994, HC2 is headquartered in New York, New York.Cautionary Statement Regarding Forward-Looking StatementsSafe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains, and certain oral statements made by our representatives from time to time may contain, forward-looking statements regarding the proposed rights offering, including, among others, statements related to the expected timing, eligible offerees, backstop purchasers and expectations regarding participation in the rights offering, the use of proceeds from the rights offering, the size of the rights offering and other terms of the rights offering, all of which involve risks, assumptions and uncertainties, many of which are outside of the Company's control, and are subject to change. The commencement and consummation of the rights offering are also subject to customary conditions, including declaration by the Board of the dividend constituting the rights to be issued in the rights offering, SEC clearance of the registration statement and market conditions.  Accordingly, no assurance can be given that the rights offering will be consummated on the terms described above or at all. All forward-looking statements speak only as of the date made, and unless legally required, HC2 undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.Contact: Investor Relations Garrett Edson ir@hc2.com (212) 235-2691

  • GlobeNewswire

    HC2 Broadcasting Amends Terms of $81.2 Million Notes, Extends Maturity to October 2021

    NEW YORK, Aug. 31, 2020 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or the “Company”) (NYSE: HCHC), a diversified holding company, announced today that its Broadcasting segment has amended the terms of its $81.2 million of privately placed notes (the “Notes”), and extended their maturity by one year to October 2021.  Borrowing terms for the Notes remain largely unchanged. As part of the amended terms, HC2 Broadcasting is able to sell several non-core full power stations, should it choose, which would enable it to reduce the principal on the Notes.“We are pleased to have successfully extended the maturity of the Notes at the Broadcasting segment,” stated Wayne Barr, Jr., HC2’s interim Chief Executive Officer.  “We continue to execute and take the necessary steps to best position HC2 for its impending refinancing at the holdco level, while potentially selling several non-core full power stations can help us further reduce our leverage at the Broadcasting segment.  The vast majority of our Broadcasting platform will remain intact; with our network of over 230 stations, it remains well-positioned to take advantage of opportunities as cord cutting further accelerates.”The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.About HC2HC2 Holdings, Inc. is a publicly traded (NYSE:HCHC) diversified holding company, which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. HC2 has a diverse array of operating subsidiaries across multiple reportable segments, including Construction, Energy, Telecommunications, Life Sciences, Broadcasting, Insurance and Other. HC2's largest operating subsidiary is DBM Global Inc., a family of companies providing fully integrated structural and steel construction services. Founded in 1994, HC2 is headquartered in New York, New York.About HC2 BroadcastingHC2 Broadcasting Holdings Inc. is the broadcasting subsidiary of HC2 Holdings, Inc. HC2 Broadcasting currently owns and operates 233 operational stations, including 10 full-power stations, 52 Class A stations and 171 LPTV stations. In addition, HC2 Broadcasting has approximately 15 silent licenses and 206 construction permits. The total HC2 Broadcasting footprint covers approximately 60 percent of the U.S. population, in 129 U.S. markets, including 34 of the top 35 markets across the United States. For more information, please visit www.hc2broadcasting.com.Cautionary Statement Regarding Forward-Looking StatementsSafe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains, and certain oral statements made by our representatives from time to time may contain, forward-looking statements.  Generally, forward-looking statements include information describing actions, events, results, strategies and expectations and are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. The forward-looking statements in this press release include, without limitation, any statements regarding our expectations regarding building shareholder value, future cash flow, longer-term growth and invested assets, and the timing or prospects of any refinancing of HC2's corporate debt.  Such statements are based on the beliefs and assumptions of HC2’s management and the management of HC2’s subsidiaries and portfolio companies.  The Company believes these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and the Company’s actual results could differ materially from those expressed or implied in the forward-looking statements due to a variety of important factors, both positive and negative, that may be revised or supplemented in subsequent statements and reports filed with the Securities and Exchange Commission (“SEC”), including in our reports on Forms 10-K, 10-Q, and 8-K.  Such important factors include, without limitation, issues related to the restatement of our financial statements; the fact that we have historically identified material weaknesses in our internal control over financial reporting, and any inability to remediate future material weaknesses; capital market conditions, including the ability of HC2 and HC2’s subsidiaries to raise capital; the ability of HC2’s subsidiaries and portfolio companies to generate sufficient net income and cash flows to make upstream cash distributions; volatility in the trading price of HC2 common stock; the ability of HC2 and its subsidiaries and portfolio companies to identify any suitable future acquisition or disposition opportunities; our ability to realize efficiencies, cost savings, income and margin improvements, growth, economies of scale and other anticipated benefits of strategic transactions; difficulties related to the integration of financial reporting of acquired or target businesses; difficulties completing pending and future acquisitions and dispositions; effects of litigation, indemnification claims, and other contingent liabilities; changes in regulations and tax laws; and risks that may affect the performance of the operating subsidiaries and portfolio companies of HC2.  Although HC2 believes its expectations and assumptions regarding its future operating performance are reasonable, there can be no assurance that the expectations reflected herein will be achieved.  These risks and other important factors discussed under the caption “Risk Factors” in our most recent Annual Report on Form 10-K filed with the SEC, and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release.You should not place undue reliance on forward-looking statements.  All forward-looking statements attributable to HC2 or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements.  All such statements speak only as of the date made, and unless legally required, HC2 undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.Contact: Investor Relations Garrett Edson ir@hc2.com (212) 235-2691