Bank of New York Mellon Corp Grows Stake in Houghton Mifflin Harcourt Co (HMHC)

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Bank of New York Mellon Corp raised its holdings in shares of Houghton Mifflin Harcourt Co (NASDAQ:HMHC) by 11.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 500,575 shares of the business services provider’s stock after purchasing an additional 53,188 shares during the quarter. Bank of New York Mellon Corp’s holdings in Houghton Mifflin Harcourt were worth $4,435,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc grew its holdings in shares of Houghton Mifflin Harcourt by 4.0% during the third quarter. Vanguard Group Inc now owns 9,202,337 shares of the business services provider’s stock worth $64,416,000 after buying an additional 353,496 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Houghton Mifflin Harcourt by 4.0% during the third quarter. Vanguard Group Inc. now owns 9,202,337 shares of the business services provider’s stock worth $64,416,000 after buying an additional 353,496 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Houghton Mifflin Harcourt by 2.2% during the fourth quarter. BlackRock Inc. now owns 7,172,290 shares of the business services provider’s stock worth $63,546,000 after buying an additional 151,010 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Houghton Mifflin Harcourt by 8.6% during the third quarter. Dimensional Fund Advisors LP now owns 5,553,983 shares of the business services provider’s stock worth $38,878,000 after buying an additional 441,905 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Houghton Mifflin Harcourt by 2.7% in the third quarter. JPMorgan Chase & Co. now owns 2,243,773 shares of the business services provider’s stock valued at $15,706,000 after purchasing an additional 58,993 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

In related news, major shareholder Anchorage Capital Group, L.L.C sold 622,320 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $7.75, for a total value of $4,822,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.69% of the company’s stock.

Shares of HMHC opened at $8.09 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.45 and a debt-to-equity ratio of 0.98. Houghton Mifflin Harcourt Co has a 12-month low of $5.10 and a 12-month high of $10.64. The stock has a market capitalization of $997.84 million, a P/E ratio of -7.63 and a beta of 0.81.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last announced its quarterly earnings data on Thursday, February 28th. The business services provider reported ($0.70) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.03). Houghton Mifflin Harcourt had a negative net margin of 6.92% and a negative return on equity of 15.82%. Equities research analysts anticipate that Houghton Mifflin Harcourt Co will post -0.57 EPS for the current year.

A number of equities research analysts recently issued reports on the stock. BidaskClub lowered shares of Houghton Mifflin Harcourt from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Zacks Investment Research lowered shares of Houghton Mifflin Harcourt from a “hold” rating to a “sell” rating in a report on Saturday, February 23rd. TheStreet lowered shares of Houghton Mifflin Harcourt from a “c-” rating to a “d” rating in a report on Friday, March 22nd. Finally, BMO Capital Markets dropped their price objective on shares of Houghton Mifflin Harcourt from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $9.63.

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About Houghton Mifflin Harcourt

Houghton Mifflin Harcourt Company, a learning company, provides curriculum, supplemental, and intervention solutions; and professional learning services 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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Institutional Ownership by Quarter for Houghton Mifflin Harcourt (NASDAQ:HMHC)

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