Houghton Mifflin Harcourt Co (HMHC) Sees Large Growth in Short Interest

Houghton Mifflin Harcourt Co (NASDAQ:HMHC) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 3,328,313 shares, a growth of 61.9% from the January 15th total of 2,055,580 shares. Based on an average daily volume of 484,684 shares, the days-to-cover ratio is presently 6.9 days. Approximately 2.7% of the company’s stock are sold short.

In other news, insider John J. Lynch, Jr. purchased 112,518 shares of Houghton Mifflin Harcourt stock in a transaction on Tuesday, November 13th. The stock was purchased at an average price of $8.89 per share, with a total value of $1,000,285.02. Following the transaction, the insider now directly owns 140,362 shares in the company, valued at approximately $1,247,818.18. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John R. Mckernan, Jr. purchased 11,200 shares of Houghton Mifflin Harcourt stock in a transaction on Monday, November 26th. The shares were purchased at an average cost of $9.08 per share, with a total value of $101,696.00. Following the transaction, the director now owns 30,429 shares in the company, valued at $276,295.32. The disclosure for this purchase can be found here. 1.07% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. WS Management Lllp grew its holdings in shares of Houghton Mifflin Harcourt by 33.9% during the 3rd quarter. WS Management Lllp now owns 9,487,538 shares of the business services provider’s stock worth $66,413,000 after purchasing an additional 2,400,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Houghton Mifflin Harcourt by 8.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,553,983 shares of the business services provider’s stock worth $38,878,000 after purchasing an additional 441,905 shares in the last quarter. Lapides Asset Management LLC grew its holdings in shares of Houghton Mifflin Harcourt by 19.9% during the 3rd quarter. Lapides Asset Management LLC now owns 2,346,600 shares of the business services provider’s stock worth $16,426,000 after purchasing an additional 389,300 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Houghton Mifflin Harcourt by 5.5% during the 2nd quarter. BlackRock Inc. now owns 7,001,672 shares of the business services provider’s stock worth $53,562,000 after purchasing an additional 364,281 shares in the last quarter. Finally, Vanguard Group Inc boosted its stake in Houghton Mifflin Harcourt by 4.0% in the third quarter. Vanguard Group Inc now owns 9,202,337 shares of the business services provider’s stock valued at $64,416,000 after buying an additional 353,496 shares in the last quarter. Hedge funds and other institutional investors own 95.08% of the company’s stock.

HMHC stock traded up $0.31 during trading hours on Monday, hitting $10.24. 411,770 shares of the stock were exchanged, compared to its average volume of 558,660. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.48 and a quick ratio of 1.17. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -8.19 and a beta of 0.94. Houghton Mifflin Harcourt has a 12 month low of $5.10 and a 12 month high of $10.64.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last posted its quarterly earnings data on Thursday, November 8th. The business services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.12. The firm had revenue of $536.30 million for the quarter, compared to analysts’ expectations of $507.37 million. Houghton Mifflin Harcourt had a negative return on equity of 15.66% and a negative net margin of 4.69%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 EPS. Research analysts expect that Houghton Mifflin Harcourt will post -1.01 EPS for the current year.

A number of brokerages have recently issued reports on HMHC. BidaskClub cut Houghton Mifflin Harcourt from a “strong-buy” rating to a “buy” rating in a research note on Saturday. TheStreet upgraded Houghton Mifflin Harcourt from a “d” rating to a “c-” rating in a research note on Wednesday, November 28th. ValuEngine upgraded Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Finally, Zacks Investment Research upgraded Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Houghton Mifflin Harcourt currently has a consensus rating of “Hold” and an average target price of $8.42.

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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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