Pleasant Lake Partners Exits Position in Houghton Mifflin Harcourt Co (HMHC)

Houghton Mifflin Harcourt Co (HMHC) : Pleasant Lake Partners has sold out all of its stake in Houghton Mifflin Harcourt Co during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 951,783 shares of Houghton Mifflin Harcourt Co which is valued at $14,010,246.

Other Hedge Funds, Including , Tudor Investment Corp Et Al reduced its stake in HMHC by selling 31,362 shares or 53.07% in the most recent quarter. The Hedge Fund company now holds 27,736 shares of HMHC which is valued at $408,274. Houghton Mifflin Harcourt Co makes up approx 0.02% of Tudor Investment Corp Et Al’s portfolio.Alliancebernstein boosted its stake in HMHC in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 208,000 shares of Houghton Mifflin Harcourt Co which is valued at $3,061,760.Blackrock Group Ltd reduced its stake in HMHC by selling 13,492 shares or 15.81% in the most recent quarter. The Hedge Fund company now holds 71,844 shares of HMHC which is valued at $1,057,544.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.American Century Companies Inc boosted its stake in HMHC in the latest quarter, The investment management firm added 13,241 additional shares and now holds a total of 322,288 shares of Houghton Mifflin Harcourt Co which is valued at $5,530,462. Houghton Mifflin Harcourt Co makes up approx 0.01% of American Century Companies Inc’s portfolio.

Houghton Mifflin Harcourt Co closed down -0.01 points or -0.06% at $15.94 with 4,44,951 shares getting traded on Thursday. Post opening the session at $15.92, the shares hit an intraday low of $15.81 and an intraday high of $16.02 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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