Houghton Mifflin Harcourt (NASDAQ:HMHC) Trading Up 6.9%

Shares of Houghton Mifflin Harcourt Co (NASDAQ:HMHC) traded up 6.9% during trading on Wednesday . The stock traded as high as $6.32 and last traded at $6.32, 594,721 shares were traded during mid-day trading. A decline of 14% from the average session volume of 693,219 shares. The stock had previously closed at $5.91.

Several research analysts have weighed in on HMHC shares. Morgan Stanley cut their price target on Houghton Mifflin Harcourt from $7.00 to $6.50 and set an “equal weight” rating for the company in a report on Thursday, September 5th. ValuEngine lowered Houghton Mifflin Harcourt from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research cut Houghton Mifflin Harcourt from a “hold” rating to a “sell” rating in a report on Friday, September 6th. BidaskClub downgraded Houghton Mifflin Harcourt from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, Citigroup dropped their target price on Houghton Mifflin Harcourt from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Houghton Mifflin Harcourt presently has an average rating of “Hold” and a consensus target price of $8.50.

The company has a market cap of $729.74 million, a price-to-earnings ratio of -5.96 and a beta of 0.87. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 1.46. The stock’s 50 day moving average price is $5.69 and its 200 day moving average price is $6.44.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last released its earnings results on Thursday, August 8th. The business services provider reported $0.01 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. Houghton Mifflin Harcourt had a negative net margin of 9.46% and a negative return on equity of 16.39%. The business had revenue of $388.90 million for the quarter, compared to analysts’ expectations of $399.91 million. During the same period last year, the company earned ($0.19) earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts expect that Houghton Mifflin Harcourt Co will post -1.3 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of HMHC. Intrinsic Edge Capital Management LLC purchased a new position in Houghton Mifflin Harcourt during the second quarter worth approximately $2,304,000. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Houghton Mifflin Harcourt by 177.9% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 145,577 shares of the business services provider’s stock worth $839,000 after buying an additional 93,196 shares during the last quarter. United Services Automobile Association increased its holdings in shares of Houghton Mifflin Harcourt by 7.5% during the 2nd quarter. United Services Automobile Association now owns 27,019 shares of the business services provider’s stock worth $156,000 after buying an additional 1,889 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Houghton Mifflin Harcourt during the 2nd quarter worth $267,000. Finally, Nuveen Asset Management LLC purchased a new position in shares of Houghton Mifflin Harcourt in the 2nd quarter worth $9,684,000. 97.88% of the stock is owned by hedge funds and other institutional investors.

About Houghton Mifflin Harcourt (NASDAQ:HMHC)

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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