Lapides Asset Management LLC Acquires 223,100 Shares of Houghton Mifflin Harcourt Co (NASDAQ:HMHC)

Lapides Asset Management LLC lifted its holdings in shares of Houghton Mifflin Harcourt Co (NASDAQ:HMHC) by 16.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,540,800 shares of the business services provider’s stock after purchasing an additional 223,100 shares during the period. Houghton Mifflin Harcourt accounts for about 1.6% of Lapides Asset Management LLC’s portfolio, making the stock its 24th biggest position. Lapides Asset Management LLC owned 1.23% of Houghton Mifflin Harcourt worth $2,789,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Stone Ridge Asset Management LLC boosted its position in shares of Houghton Mifflin Harcourt by 33.8% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 28,884 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 7,300 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Houghton Mifflin Harcourt by 136.5% during the second quarter. SG Americas Securities LLC now owns 90,610 shares of the business services provider’s stock valued at $164,000 after acquiring an additional 52,296 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Houghton Mifflin Harcourt by 57.7% during the second quarter. Wedge Capital Management L L P NC now owns 39,639 shares of the business services provider’s stock valued at $72,000 after acquiring an additional 14,511 shares during the last quarter. Royal Bank of Canada increased its position in Houghton Mifflin Harcourt by 17.1% in the first quarter. Royal Bank of Canada now owns 116,475 shares of the business services provider’s stock worth $219,000 after buying an additional 16,989 shares during the last quarter. Finally, Engineers Gate Manager LP increased its position in Houghton Mifflin Harcourt by 242.2% in the first quarter. Engineers Gate Manager LP now owns 72,899 shares of the business services provider’s stock worth $137,000 after buying an additional 51,599 shares during the last quarter. Institutional investors own 96.36% of the company’s stock.

A number of equities analysts have recently commented on the company. Zacks Investment Research raised Houghton Mifflin Harcourt from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a report on Wednesday. BidaskClub raised Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Morgan Stanley dropped their price objective on Houghton Mifflin Harcourt from $6.50 to $2.00 and set an “equal weight” rating for the company in a research note on Friday, April 17th. Finally, BMO Capital Markets reissued a “hold” rating and set a $3.00 price objective on shares of Houghton Mifflin Harcourt in a research note on Sunday, July 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $2.13.

Shares of HMHC traded up $0.22 during trading hours on Friday, hitting $2.96. The company had a trading volume of 8,107,090 shares, compared to its average volume of 8,948,266. The firm has a market cap of $371.20 million, a P/E ratio of -0.83 and a beta of 1.27. The stock’s 50 day moving average price is $1.99 and its 200 day moving average price is $3.04. The company has a quick ratio of 0.67, a current ratio of 1.10 and a debt-to-equity ratio of 3.45. Houghton Mifflin Harcourt Co has a 52-week low of $1.03 and a 52-week high of $6.85.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last released its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.67) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.13. The firm had revenue of $189.93 million for the quarter, compared to the consensus estimate of $180.78 million. Houghton Mifflin Harcourt had a negative return on equity of 26.13% and a negative net margin of 31.92%. On average, research analysts expect that Houghton Mifflin Harcourt Co will post -1.18 EPS for the current fiscal year.

About Houghton Mifflin Harcourt

Houghton Mifflin Harcourt Company, a learning company, provides curriculum, supplemental, and intervention solutions; and professional learning services 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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