Jennison Associates LLC Acquires 648,585 Shares of Houghton Mifflin Harcourt Company (HMHC)

Jennison Associates LLC increased its holdings in shares of Houghton Mifflin Harcourt Company (NASDAQ:HMHC) by 34.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,544,997 shares of the business services provider’s stock after buying an additional 648,585 shares during the period. Jennison Associates LLC owned about 2.06% of Houghton Mifflin Harcourt worth $30,667,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in Houghton Mifflin Harcourt by 25.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 8,628 shares of the business services provider’s stock worth $106,000 after buying an additional 1,729 shares during the period. D.A. Davidson & CO. increased its stake in Houghton Mifflin Harcourt by 302.6% during the 2nd quarter. D.A. Davidson & CO. now owns 10,065 shares of the business services provider’s stock worth $123,000 after buying an additional 7,565 shares during the period. Verition Fund Management LLC purchased a new stake in Houghton Mifflin Harcourt during the 2nd quarter worth approximately $128,000. Dynamic Technology Lab Private Ltd purchased a new stake in Houghton Mifflin Harcourt during the 2nd quarter worth approximately $227,000. Finally, Suntrust Banks Inc. purchased a new stake in Houghton Mifflin Harcourt during the 2nd quarter worth approximately $256,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Houghton Mifflin Harcourt Company (NASDAQ HMHC) opened at $8.55 on Thursday. Houghton Mifflin Harcourt Company has a 52-week low of $8.05 and a 52-week high of $13.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.10 and a current ratio of 1.38.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last posted its earnings results on Thursday, November 2nd. The business services provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.19. The firm had revenue of $532.00 million for the quarter, compared to the consensus estimate of $528.40 million. Houghton Mifflin Harcourt had a negative net margin of 18.59% and a negative return on equity of 17.37%. The company’s revenue was down .2% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. analysts expect that Houghton Mifflin Harcourt Company will post -1.67 EPS for the current year.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research note on Monday, November 6th. ValuEngine raised shares of Houghton Mifflin Harcourt from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 4th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $14.00 target price on shares of Houghton Mifflin Harcourt in a research note on Friday, November 3rd. Citigroup Inc. cut their target price on shares of Houghton Mifflin Harcourt from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Finally, Morgan Stanley cut their target price on shares of Houghton Mifflin Harcourt from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Houghton Mifflin Harcourt presently has a consensus rating of “Hold” and an average price target of $13.08.

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. As of December 31, 2016, the Company delivered content, services and technology to both educational institutions and consumers, reaching over 50 million students in approximately 150 countries across the world.

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Institutional Ownership by Quarter for Houghton Mifflin Harcourt (NASDAQ:HMHC)

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