Houghton Mifflin Harcourt (HMHC) Shares Gap Down to $7.74

Houghton Mifflin Harcourt Co (NASDAQ:HMHC) shares gapped down prior to trading on Thursday . The stock had previously closed at $7.77, but opened at $7.74. Houghton Mifflin Harcourt shares last traded at $7.90, with a volume of 1817272 shares trading hands.

A number of research firms have recently weighed in on HMHC. BidaskClub downgraded Houghton Mifflin Harcourt from a “hold” rating to a “sell” rating in a research note on Tuesday. BMO Capital Markets lowered 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 research report on Monday, March 4th. Zacks Investment Research upgraded shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Finally, TheStreet upgraded shares of Houghton Mifflin Harcourt from a “d” rating to a “c-” rating in a research report on Wednesday, November 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $9.00.

The company has a current ratio of 1.48, a quick ratio of 1.17 and a debt-to-equity ratio of 0.92. The stock has a market cap of $962.54 million, a P/E ratio of -7.35 and a beta of 0.94.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last released its earnings results 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 return on equity of 15.66% and a negative net margin of 4.69%. Equities analysts forecast that Houghton Mifflin Harcourt Co will post -0.76 earnings per share for the current year.

In other Houghton Mifflin Harcourt news, major shareholder Anchorage Capital Group, L.L.C sold 622,320 shares of the 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 accessible through the SEC website. 1.07% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in Houghton Mifflin Harcourt by 2.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,243,773 shares of the business services provider’s stock worth $15,706,000 after purchasing an additional 58,993 shares in the last quarter. WS Management Lllp grew its holdings in shares of Houghton Mifflin Harcourt by 33.9% in the 3rd quarter. WS Management Lllp now owns 9,487,538 shares of the business services provider’s stock valued at $66,413,000 after acquiring an additional 2,400,000 shares in the last quarter. MetLife Investment Advisors LLC grew its holdings in shares of Houghton Mifflin Harcourt by 19.6% in the 3rd quarter. MetLife Investment Advisors LLC now owns 58,244 shares of the business services provider’s stock valued at $408,000 after acquiring an additional 9,534 shares in the last quarter. Garnet Equity Capital Holdings Inc. grew its holdings in shares of Houghton Mifflin Harcourt by 16.4% in the 4th quarter. Garnet Equity Capital Holdings Inc. now owns 349,332 shares of the business services provider’s stock valued at $3,095,000 after acquiring an additional 49,200 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Houghton Mifflin Harcourt in the 3rd quarter valued at about $1,643,000. Hedge funds and other institutional investors own 92.61% of the company’s stock.

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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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