Contrarian Capital Management L.l.c. buys $50.5 Million stake in Houghton Mifflin Harcourt Co (HMHC)

Houghton Mifflin Harcourt Co (HMHC) : Contrarian Capital Management L.l.c. scooped up 10,529 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 May 13, 2016. The investment management firm now holds a total of 2,880,557 shares of Houghton Mifflin Harcourt Co which is valued at $50.5 Million.Houghton Mifflin Harcourt Co makes up approximately 37.50% of Contrarian Capital Management L.l.c.’s portfolio.

Other Hedge Funds, Including , First Foundation Advisors reduced its stake in HMHC by selling 1,851 shares or 13.07% in the most recent quarter. The Hedge Fund company now holds 12,315 shares of HMHC which is valued at $215,882. Houghton Mifflin Harcourt Co makes up approx 0.02% of First Foundation Advisors’s portfolio. Group One Trading sold out all of its stake in HMHC during the most recent quarter. The investment firm sold 1,477 shares of HMHC which is valued $25,892. Alpine Partners Vi added HMHC to its portfolio by purchasing 21,776 company shares during the most recent quarter which is valued at $381,733. Houghton Mifflin Harcourt Co makes up approx 0.09% of Alpine Partners Vi’s portfolio.Manufacturers Life Insurance Company The boosted its stake in HMHC in the latest quarter, The investment management firm added 1,183 additional shares and now holds a total of 90,578 shares of Houghton Mifflin Harcourt Co which is valued at $1.6 Million.Proshare Advisors reduced its stake in HMHC by selling 3,388 shares or 16.34% in the most recent quarter. The Hedge Fund company now holds 17,346 shares of HMHC which is valued at $325,584.

Houghton Mifflin Harcourt Co closed down -0.01 points or -0.06% at $17.18 with 6,53,322 shares getting traded on Wednesday. Post opening the session at $17.19, the shares hit an intraday low of $17 and an intraday high of $17.22 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Houghton Mifflin Harcourt Co reported $-1.34 EPS for the quarter, missing the analyst consensus estimate by $ -0.17 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $-1.17. The company had revenue of $205.82 million for the quarter, compared to analysts expectations of $198.74 million. The company’s revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.12 EPS.

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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