Houghton Mifflin Harcourt (HMHC) Trading Down 5.1%

Houghton Mifflin Harcourt Co (NASDAQ:HMHC) shares dropped 5.1% during mid-day trading on Thursday . The company traded as low as $7.06 and last traded at $7.08. Approximately 1,620,878 shares were traded during mid-day trading, an increase of 118% from the average daily volume of 743,326 shares. The stock had previously closed at $7.46.

HMHC has been the subject of a number of research analyst reports. BidaskClub raised Houghton Mifflin Harcourt from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 28th. TheStreet raised Houghton Mifflin Harcourt from a “d” rating to a “c-” rating in a research note on Wednesday, November 28th. BMO Capital Markets decreased their target price on Houghton Mifflin Harcourt from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Finally, Zacks Investment Research raised Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Houghton Mifflin Harcourt has an average rating of “Hold” and a consensus target price of $9.00.

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.45 and a quick ratio of 1.07. The stock has a market capitalization of $943.57 million, a price-to-earnings ratio of -6.68 and a beta of 0.82.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last posted its quarterly earnings data on Thursday, February 28th. The business services provider reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.03). Houghton Mifflin Harcourt had a negative return on equity of 15.82% and a negative net margin of 6.92%. On average, equities research analysts predict that Houghton Mifflin Harcourt Co will post -0.74 EPS for the current fiscal year.

In other 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 stock was sold at an average price of $7.75, for a total transaction of $4,822,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.07% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Houghton Mifflin Harcourt by 70.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,048 shares of the business services provider’s stock worth $71,000 after buying an additional 3,317 shares during the period. PEAK6 Investments LLC acquired a new position in shares of Houghton Mifflin Harcourt during the fourth quarter worth about $109,000. SG Americas Securities LLC acquired a new position in shares of Houghton Mifflin Harcourt during the fourth quarter worth about $110,000. Stone Run Capital LLC acquired a new position in shares of Houghton Mifflin Harcourt during the third quarter worth about $119,000. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in Houghton Mifflin Harcourt during the fourth quarter worth about $157,000. 93.76% of the stock is owned by institutional investors.

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Houghton Mifflin Harcourt Company Profile (NASDAQ:HMHC)

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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