California Public Employees Retirement System boosted its stake in shares of Houghton Mifflin Harcourt Co. (NASDAQ:HMHC) by 16.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,800 shares of the company’s stock after buying an additional 13,000 shares during the period. California Public Employees Retirement System owned approximately 0.07% of Houghton Mifflin Harcourt worth $1,435,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Houghton Mifflin Harcourt by 92.0% in the second quarter. Bank of New York Mellon Corp now owns 7,664,311 shares of the company’s stock valued at $119,792,000 after buying an additional 3,672,068 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in Houghton Mifflin Harcourt by 17.9% in the first quarter. Loomis Sayles & Co. L P now owns 1,614,781 shares of the company’s stock worth $32,199,000 after buying an additional 245,549 shares during the period. Diker Management LLC bought a new stake in Houghton Mifflin Harcourt during the first quarter worth about $2,790,000. Eagle Asset Management Inc. increased its stake in Houghton Mifflin Harcourt by 9.7% in the second quarter. Eagle Asset Management Inc. now owns 1,238,700 shares of the company’s stock worth $19,360,000 after buying an additional 109,909 shares during the period. Finally, FNY Managed Accounts LLC bought a new stake in Houghton Mifflin Harcourt during the second quarter worth about $1,521,000.
Houghton Mifflin Harcourt Co. (NASDAQ:HMHC) traded up 0.265% during trading on Wednesday, hitting $13.245. 59,178 shares of the stock traded hands. The company’s market cap is $1.62 billion. Houghton Mifflin Harcourt Co. has a 52-week low of $12.80 and a 52-week high of $22.01. The firm has a 50-day moving average price of $14.55 and a 200 day moving average price of $16.78.
Houghton Mifflin Harcourt (NASDAQ:HMHC) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.21. The company earned $392 million during the quarter, compared to the consensus estimate of $431.29 million. Houghton Mifflin Harcourt had a negative return on equity of 9.44% and a negative net margin of 10.86%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) earnings per share. On average, equities analysts expect that Houghton Mifflin Harcourt Co. will post ($1.28) EPS for the current year.
A number of research firms recently issued reports on HMHC. Goldman Sachs Group Inc. upgraded shares of Houghton Mifflin Harcourt from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday, August 1st. Zacks Investment Research upgraded shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a report on Tuesday, August 30th. Credit Suisse Group AG restated a “buy” rating on shares of Houghton Mifflin Harcourt in a report on Monday, August 8th. Citigroup Inc. decreased their price objective on shares of Houghton Mifflin Harcourt from $29.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, August 17th. Finally, BMO Capital Markets downgraded shares of Houghton Mifflin Harcourt from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $22.00 to $17.00 in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $23.50.
About Houghton Mifflin Harcourt
Houghton Mifflin Harcourt Company (HMH) is a global learning company, specializing in education solutions across a range of media. The Company operates through two segments: Education and Trade Publishing. The Education segment provides educational content, services and technology solutions to meet the diverse needs of classrooms.
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