Houghton Mifflin Harcourt Co (HMHC) Short Interest Down 24.8% in April

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Houghton Mifflin Harcourt Co (NASDAQ:HMHC) saw a significant drop in short interest during the month of April. As of April 30th, there was short interest totalling 1,880,638 shares, a drop of 24.8% from the April 15th total of 2,499,461 shares. Based on an average daily volume of 488,744 shares, the short-interest ratio is presently 3.8 days. Approximately 1.5% of the shares of the company are short sold.

In related news, Director Lawrence K. Fish acquired 20,000 shares of the stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of $6.47 per share, for a total transaction of $129,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Anchorage Capital Group, L.L.C sold 622,320 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $7.75, for a total transaction of $4,822,980.00. The disclosure for this sale can be found here. Company insiders own 1.69% of the company’s stock.

A number of hedge funds have recently modified their holdings of HMHC. Private Capital Group LLC lifted its position in Houghton Mifflin Harcourt by 91.3% in the first quarter. Private Capital Group LLC now owns 4,400 shares of the business services provider’s stock worth $32,000 after purchasing an additional 2,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Houghton Mifflin Harcourt by 70.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,048 shares of the business services provider’s stock worth $71,000 after purchasing an additional 3,317 shares during the period. Jefferies Group LLC bought a new position in Houghton Mifflin Harcourt in the first quarter worth $76,000. Signition LP bought a new position in Houghton Mifflin Harcourt in the first quarter worth $84,000. Finally, Acadian Asset Management LLC bought a new position in Houghton Mifflin Harcourt in the first quarter worth $93,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Houghton Mifflin Harcourt from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. TheStreet downgraded shares of Houghton Mifflin Harcourt from a “c-” rating to a “d” rating in a research note on Friday, March 22nd. BMO Capital Markets lowered their price objective on shares of Houghton Mifflin Harcourt from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. Finally, Zacks Investment Research upgraded shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $9.63.

Shares of HMHC stock opened at $6.39 on Monday. The firm has a market capitalization of $793.07 million, a P/E ratio of -6.03 and a beta of 0.79. Houghton Mifflin Harcourt has a one year low of $5.10 and a one year high of $10.64. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.20 and a quick ratio of 0.63.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last issued its earnings results on Thursday, May 9th. The business services provider reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.22). The firm had revenue of $195.00 million during the quarter, compared to the consensus estimate of $201.61 million. Houghton Mifflin Harcourt had a negative return on equity of 18.93% and a negative net margin of 8.25%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the business earned ($0.82) earnings per share. As a group, sell-side analysts predict that Houghton Mifflin Harcourt will post -0.54 earnings per share for the current fiscal year.

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Houghton Mifflin Harcourt Company Profile

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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