Lapides Asset Management LLC Purchases 389,300 Shares of Houghton Mifflin Harcourt Co (HMHC)

Lapides Asset Management LLC increased its position in shares of Houghton Mifflin Harcourt Co (NASDAQ:HMHC) by 19.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,346,600 shares of the business services provider’s stock after acquiring an additional 389,300 shares during the quarter. Houghton Mifflin Harcourt comprises approximately 3.6% of Lapides Asset Management LLC’s investment portfolio, making the stock its 6th biggest holding. Lapides Asset Management LLC’s holdings in Houghton Mifflin Harcourt were worth $16,426,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HMHC. Dimensional Fund Advisors LP boosted its stake in Houghton Mifflin Harcourt by 11.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,692,916 shares of the business services provider’s stock worth $32,616,000 after acquiring an additional 470,811 shares during the last quarter. Royal Bank of Canada boosted its stake in Houghton Mifflin Harcourt by 39.6% during the 1st quarter. Royal Bank of Canada now owns 122,907 shares of the business services provider’s stock worth $854,000 after acquiring an additional 34,835 shares during the last quarter. Peregrine Capital Management LLC boosted its stake in Houghton Mifflin Harcourt by 28.4% during the 2nd quarter. Peregrine Capital Management LLC now owns 1,494,181 shares of the business services provider’s stock worth $11,430,000 after acquiring an additional 330,689 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Houghton Mifflin Harcourt during the 2nd quarter worth approximately $216,000. Finally, Bank of Montreal Can bought a new position in Houghton Mifflin Harcourt during the 2nd quarter worth approximately $145,000. 95.68% of the stock is currently owned by institutional investors and hedge funds.

HMHC traded up $0.25 during trading on Tuesday, reaching $6.48. The company had a trading volume of 18,054 shares, compared to its average volume of 711,741. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.66 and a current ratio of 1.05. Houghton Mifflin Harcourt Co has a 12 month low of $5.10 and a 12 month high of $10.85. The firm has a market cap of $783.33 million, a P/E ratio of -5.12 and a beta of 0.46.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last announced its quarterly earnings results on Thursday, August 2nd. The business services provider reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.14). Houghton Mifflin Harcourt had a negative net margin of 4.35% and a negative return on equity of 14.89%. The company had revenue of $375.58 million during the quarter, compared to the consensus estimate of $386.20 million. During the same period in the previous year, the firm posted ($0.38) EPS. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Houghton Mifflin Harcourt Co will post -1.03 earnings per share for the current fiscal year.

HMHC has been the topic of several recent analyst reports. BidaskClub raised shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. BMO Capital Markets raised shares of Houghton Mifflin Harcourt from a “market perform” rating to an “outperform” rating and set a $8.00 price objective on the stock in a research note on Tuesday, October 9th. Wells Fargo & Co set a $13.00 price objective on shares of Houghton Mifflin Harcourt and gave the stock a “buy” rating in a research note on Sunday, August 5th. ValuEngine raised shares of Houghton Mifflin Harcourt from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research raised shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $9.94.

About Houghton Mifflin Harcourt

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

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