State Street Corp cut its position in Houghton Mifflin Harcourt Company (NASDAQ:HMHC) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,187,945 shares of the business services provider’s stock after selling 91,250 shares during the period. State Street Corp owned 1.77% of Houghton Mifflin Harcourt worth $26,912,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in Houghton Mifflin Harcourt by 74.6% in the first quarter. Renaissance Technologies LLC now owns 1,050,800 shares of the business services provider’s stock valued at $10,666,000 after buying an additional 448,900 shares in the last quarter. Concourse Capital Management LLC acquired a new position in Houghton Mifflin Harcourt in the second quarter valued at about $3,306,000. BNP Paribas Arbitrage SA boosted its position in Houghton Mifflin Harcourt by 9,643.0% in the second quarter. BNP Paribas Arbitrage SA now owns 230,909 shares of the business services provider’s stock valued at $2,840,000 after buying an additional 228,539 shares in the last quarter. Great Lakes Advisors LLC acquired a new position in Houghton Mifflin Harcourt in the second quarter valued at about $2,983,000. Finally, Federated Investors Inc. PA boosted its position in Houghton Mifflin Harcourt by 3.8% in the second quarter. Federated Investors Inc. PA now owns 551,580 shares of the business services provider’s stock valued at $6,785,000 after buying an additional 20,440 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Houghton Mifflin Harcourt Company (HMHC) opened at $8.80 on Monday. Houghton Mifflin Harcourt Company has a 12-month low of $8.80 and a 12-month high of $13.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.10 and a current ratio of 1.38.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.19. Houghton Mifflin Harcourt had a negative net margin of 18.59% and a negative return on equity of 17.37%. The company had revenue of $532.00 million for the quarter, compared to analyst estimates of $528.40 million. During the same period in the prior year, the business earned $0.73 earnings per share. Houghton Mifflin Harcourt’s quarterly revenue was down .2% on a year-over-year basis. equities analysts forecast that Houghton Mifflin Harcourt Company will post -1.67 earnings per share for the current year.

HMHC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Piper Jaffray Companies reiterated a “hold” rating and set a $13.00 target price on shares of Houghton Mifflin Harcourt in a research report on Thursday, October 19th. Stifel Nicolaus reiterated a “hold” rating and set a $12.50 target price on shares of Houghton Mifflin Harcourt in a research report on Thursday, September 21st. BMO Capital Markets reiterated a “hold” rating and set a $13.00 target price on shares of Houghton Mifflin Harcourt in a research report on Monday, September 18th. Finally, Morgan Stanley reduced their target price on shares of Houghton Mifflin Harcourt from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $13.08.

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Houghton Mifflin Harcourt Company Profile

Houghton Mifflin Harcourt Company (HMH) is a global learning company, specializing in education solutions across a range of media. The Company operates through two segments: Education and Trade Publishing. As of December 31, 2016, the Company delivered content, services and technology to both educational institutions and consumers, reaching over 50 million students in approximately 150 countries across the world.

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

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