Lapides Asset Management buys $15,015,762 stake in Houghton Mifflin Harcourt Co (HMHC)

Houghton Mifflin Harcourt Co (HMHC) : Lapides Asset Management scooped up 224,000 additional shares in Houghton Mifflin Harcourt Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 1,019,400 shares of Houghton Mifflin Harcourt Co which is valued at $15,015,762.Houghton Mifflin Harcourt Co makes up approximately 2.47% of Lapides Asset Management’s portfolio.

Other Hedge Funds, Including , Royce Associates Lp boosted its stake in HMHC in the latest quarter, The investment management firm added 153,100 additional shares and now holds a total of 261,559 shares of Houghton Mifflin Harcourt Co which is valued at $3,852,764. Houghton Mifflin Harcourt Co makes up approx 0.02% of Royce Associates Lp’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in HMHC by selling 5 shares or 0.01% in the most recent quarter. The Hedge Fund company now holds 64,288 shares of HMHC which is valued at $984,892.California Public Employees Retirement System boosted its stake in HMHC in the latest quarter, The investment management firm added 13,000 additional shares and now holds a total of 91,800 shares of Houghton Mifflin Harcourt Co which is valued at $1,592,730. Her Majesty The Queen In Right Of The Province Of Alberta… added HMHC to its portfolio by purchasing 24,700 company shares during the most recent quarter which is valued at $428,545. Houghton Mifflin Harcourt Co makes up approx 0.01% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio. Quantbot Technologies Lp added HMHC to its portfolio by purchasing 19,469 company shares during the most recent quarter which is valued at $337,787. Houghton Mifflin Harcourt Co makes up approx 0.03% of Quantbot Technologies Lp’s portfolio.

Houghton Mifflin Harcourt Co opened for trading at $14.79 and hit $15.28 on the upside on Monday, eventually ending the session at $15.18, with a gain of 3.13% or 0.46 points. The heightened volatility saw the trading volume jump to 5,29,213 shares. Company has a market cap of $1,856 M.

On the company’s financial health, Houghton Mifflin Harcourt Co reported $-0.23 EPS for the quarter, missing the analyst consensus estimate by $ -0.17 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.06. The company had revenue of $392.04 million for the quarter, compared to analysts expectations of $430.71 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.

Many Wall Street Analysts have commented on Houghton Mifflin Harcourt Co. Shares were Downgraded by BMO Capital Markets on Aug 5, 2016 to ” Market Perform” and Lowered the Price Target to $ 17 from a previous price target of $22 .Houghton Mifflin Harcourt Co was Upgraded by Goldman to ” Buy” on Aug 1, 2016.

Houghton Mifflin Harcourt Company (HMH) is a global learning company specializing in education solutions across a variety of media. The Company operates in two segments: Education and Trade Publishing. Its Education segment provides educational products technology platforms and services to meet the diverse needs of classrooms. Its Trade Publishing segment develops markets and sells consumer books in print and digital formats and licenses book rights to other publishers and electronic businesses in the United States and abroad. It delivers content services and technology to both educational institutions and consumers in more than 150 countries across the world. In the United States the Company is a provider of Kindergarten through 12th grade (K-12) educational content. Its content includes characters and titles such as Curious George Carmen Sandiego The Oregon Trail The Little Prince The Lord of the Rings Life of Pi Webster’s New World Dictionary and Cliffs Notes.

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