StockNews.com Initiates Coverage on Houghton Mifflin Harcourt (NASDAQ:HMHC)

StockNews.com started coverage on shares of Houghton Mifflin Harcourt (NASDAQ:HMHCGet Rating) in a report released on Thursday. The firm set a “hold” rating on the business services provider’s stock.

Several other brokerages have also recently commented on HMHC. BMO Capital Markets cut shares of Houghton Mifflin Harcourt from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $20.00 to $19.00 in a research note on Thursday, February 24th. Citigroup lifted their target price on shares of Houghton Mifflin Harcourt from $17.50 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 16th.

Shares of HMHC opened at $21.03 on Thursday. Houghton Mifflin Harcourt has a twelve month low of $6.85 and a twelve month high of $21.19. The company has a market cap of $2.69 billion, a P/E ratio of 13.06 and a beta of 1.13. The company has a current ratio of 1.39, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The company’s fifty day simple moving average is $20.98 and its 200-day simple moving average is $17.97.

Houghton Mifflin Harcourt (NASDAQ:HMHCGet Rating) last posted its earnings results on Thursday, February 24th. The business services provider reported ($0.36) EPS for the quarter. Houghton Mifflin Harcourt had a net margin of 20.33% and a return on equity of 0.81%. The business had revenue of $178.81 million for the quarter.

In related news, CEO John J. Lynch, Jr. sold 27,082 shares of Houghton Mifflin Harcourt stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $20.91, for a total transaction of $566,284.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James P. Oneill sold 6,237 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $20.91, for a total value of $130,415.67. The disclosure for this sale can be found here. Insiders sold 50,838 shares of company stock worth $1,063,023 over the last quarter. 2.31% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in Houghton Mifflin Harcourt during the 4th quarter worth approximately $20,412,000. Victory Capital Management Inc. boosted its position in Houghton Mifflin Harcourt by 2,917.9% during the 1st quarter. Victory Capital Management Inc. now owns 893,156 shares of the business services provider’s stock worth $18,765,000 after acquiring an additional 863,561 shares during the period. Vector Capital Management L.P. acquired a new position in Houghton Mifflin Harcourt during the 3rd quarter worth $9,441,000. Fuller & Thaler Asset Management Inc. acquired a new position in Houghton Mifflin Harcourt during the 4th quarter worth $10,973,000. Finally, Wolf Hill Capital Management LP lifted its holdings in shares of Houghton Mifflin Harcourt by 58.0% in the fourth quarter. Wolf Hill Capital Management LP now owns 1,643,786 shares of the business services provider’s stock valued at $26,465,000 after buying an additional 603,240 shares during the period. 85.91% of the stock is currently owned by institutional investors and hedge funds.

Houghton Mifflin Harcourt Company Profile (Get Rating)

Houghton Mifflin Harcourt Company, a learning technology company, provides curriculum, supplemental, intervention solutions, and professional learning services worldwide. It offers education programs in disciplines including reading, literature, math, science, and social studies; and extensions, such as supplemental and intervention solutions, professional services, professional resources, and educational services for teachers under the Heinemann brand.

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