Houghton Mifflin Harcourt (NASDAQ:HMHC) Downgraded to Sell at Zacks Investment Research

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Zacks Investment Research cut shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) from a hold rating to a sell rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Houghton Mifflin Harcourt Company is a global provider of education solutions, delivering content, technology, services and media to students in over 150 countries worldwide. The Company delivers its offerings to both educational institutions and consumers. It provides kindergarten through twelfth grade, or K-12, educational content in the United States. The Company, through its subsidiary, provides print and electronic textbook curriculum, learning content, and assessment tools and services. Houghton Mifflin Harcourt Company is headquartered in Boston, Massachusetts. “

A number of other equities analysts also recently issued reports on the company. BidaskClub raised Misonix from a buy rating to a strong-buy rating in a research report on Wednesday, July 3rd. TheStreet raised Vermilion Energy from a d+ rating to a c rating in a research report on Friday, March 22nd. Finally, ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $9.63.

Shares of HMHC stock opened at $5.37 on Wednesday. The business’s fifty day simple moving average is $5.56. The firm has a market capitalization of $661.51 million, a P/E ratio of -5.07 and a beta of 0.94. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.63 and a current ratio of 1.20. Houghton Mifflin Harcourt has a 12-month low of $5.07 and a 12-month high of $10.64.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last issued its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.22). The business had revenue of $195.00 million for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.82) earnings per share. As a group, sell-side analysts forecast that Houghton Mifflin Harcourt will post -0.54 earnings per share for the current year.

In other news, Director Lawrence K. Fish bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $6.47 per share, with a total value of $129,400.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.69% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY increased its position in shares of Houghton Mifflin Harcourt by 322.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 31,633 shares of the business services provider’s stock valued at $280,000 after acquiring an additional 24,139 shares during the period. Legal & General Group Plc boosted its holdings in Houghton Mifflin Harcourt by 18.4% in the fourth quarter. Legal & General Group Plc now owns 51,548 shares of the business services provider’s stock valued at $457,000 after purchasing an additional 8,020 shares during the last quarter. Menta Capital LLC purchased a new stake in Houghton Mifflin Harcourt in the first quarter valued at $94,000. Norges Bank purchased a new stake in Houghton Mifflin Harcourt in the fourth quarter valued at $16,439,000. Finally, Geode Capital Management LLC boosted its holdings in Houghton Mifflin Harcourt by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 1,220,570 shares of the business services provider’s stock valued at $10,814,000 after purchasing an additional 95,976 shares during the last quarter. 94.92% of the stock is currently owned by hedge funds and other institutional investors.

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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