Royce & Associates LP cut its position in shares of Houghton Mifflin Harcourt Co (NASDAQ:HMHC) by 33.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,159,261 shares of the business services provider’s stock after selling 573,846 shares during the period. Royce & Associates LP owned 0.94% of Houghton Mifflin Harcourt worth $8,115,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of HMHC. Verition Fund Management LLC bought a new position in shares of Houghton Mifflin Harcourt in the 2nd quarter valued at approximately $113,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Houghton Mifflin Harcourt in the 2nd quarter valued at approximately $116,000. Bank of Montreal Can acquired a new stake in Houghton Mifflin Harcourt in the 2nd quarter valued at approximately $145,000. Public Employees Retirement Association of Colorado acquired a new stake in Houghton Mifflin Harcourt in the 3rd quarter valued at approximately $197,000. Finally, Acadian Asset Management LLC acquired a new stake in Houghton Mifflin Harcourt in the 2nd quarter valued at approximately $302,000. 95.11% of the stock is owned by institutional investors.
HMHC opened at $9.33 on Friday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.46 and a beta of 0.57. The company has a current ratio of 1.48, a quick ratio of 1.17 and a debt-to-equity ratio of 0.92. Houghton Mifflin Harcourt Co has a 12-month low of $5.10 and a 12-month high of $10.05.
Houghton Mifflin Harcourt (NASDAQ:HMHC) last released its earnings results on Thursday, November 8th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.12. Houghton Mifflin Harcourt had a negative return on equity of 15.66% and a negative net margin of 4.69%. The firm had revenue of $536.30 million for the quarter, compared to analyst estimates of $507.37 million. During the same quarter last year, the firm posted $0.73 EPS. The company’s revenue was up 3.9% on a year-over-year basis. Research analysts expect that Houghton Mifflin Harcourt Co will post -1.01 EPS for the current fiscal year.
HMHC has been the topic of a number of research analyst reports. BidaskClub lowered Houghton Mifflin Harcourt from a “hold” rating to a “sell” rating in a report on Friday, October 5th. BMO Capital Markets raised Houghton Mifflin Harcourt from a “market perform” rating to an “outperform” rating and set a $8.00 target price on the stock in a report on Tuesday, October 9th. Zacks Investment Research raised Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Finally, ValuEngine raised Houghton Mifflin Harcourt from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $8.42.
In other news, Director John R. Mckernan, Jr. acquired 11,200 shares of the firm’s stock in a transaction dated Monday, November 26th. The shares were bought at an average price of $9.08 per share, with a total value of $101,696.00. Following the acquisition, the director now owns 30,429 shares of the company’s stock, valued at $276,295.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John J. Lynch, Jr. acquired 112,518 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The shares were purchased at an average cost of $8.89 per share, for a total transaction of $1,000,285.02. Following the acquisition, the insider now directly owns 140,362 shares in the company, valued at approximately $1,247,818.18. The disclosure for this purchase can be found here. 1.07% of the stock is currently owned by company insiders.
Houghton Mifflin Harcourt Profile
Houghton Mifflin Harcourt Company, a learning company, provides content, services, and technology solutions for educational institutions and consumers worldwide. The company operates in two segments, Education and Trade Publishing. The Education segment provides educational products, technology platforms, and services, including print and digital content in the form of textbooks, digital courseware, instructional aids, educational assessment, and intervention solutions for students.
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