TIAA CREF Investment Management LLC Reduces Position in Houghton Mifflin Harcourt Company (NASDAQ:HMHC)

TIAA CREF Investment Management LLC cut its stake in shares of Houghton Mifflin Harcourt Company (NASDAQ:HMHC) by 8.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 413,596 shares of the business services provider’s stock after selling 40,381 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.34% of Houghton Mifflin Harcourt worth $5,087,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. FMR LLC grew its stake in Houghton Mifflin Harcourt by 13.7% in the 1st quarter. FMR LLC now owns 15,500,512 shares of the business services provider’s stock valued at $157,330,000 after acquiring an additional 1,869,780 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Houghton Mifflin Harcourt by 760.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,174,326 shares of the business services provider’s stock valued at $51,344,000 after acquiring an additional 3,689,216 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Houghton Mifflin Harcourt by 18.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,221,625 shares of the business services provider’s stock valued at $32,698,000 after acquiring an additional 500,787 shares during the last quarter. State Street Corp grew its stake in Houghton Mifflin Harcourt by 2.6% in the 1st quarter. State Street Corp now owns 2,279,195 shares of the business services provider’s stock valued at $23,131,000 after acquiring an additional 57,125 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Houghton Mifflin Harcourt by 4,682.3% in the 2nd quarter. Jennison Associates LLC now owns 1,896,412 shares of the business services provider’s stock valued at $23,326,000 after acquiring an additional 1,856,757 shares during the last quarter. 99.81% of the stock is currently owned by institutional investors and hedge funds.

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Several equities research analysts have issued reports on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and set a $13.00 price target on shares of Houghton Mifflin Harcourt in a research note on Thursday, October 19th. Zacks Investment Research raised shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Morgan Stanley cut their price objective on shares of Houghton Mifflin Harcourt from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday. Stifel Nicolaus reiterated a “hold” rating and set a $12.50 price objective on shares of Houghton Mifflin Harcourt in a report on Thursday, September 21st. Finally, BMO Capital Markets reiterated a “hold” rating and set a $13.00 price objective on shares of Houghton Mifflin Harcourt in a report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the company. Houghton Mifflin Harcourt presently has an average rating of “Hold” and a consensus target price of $12.50.

Shares of Houghton Mifflin Harcourt Company (NASDAQ HMHC) opened at 10.40 on Friday. The firm’s market cap is $1.28 billion. The firm has a 50-day moving average of $11.21 and a 200 day moving average of $11.72. Houghton Mifflin Harcourt Company has a 12 month low of $9.15 and a 12 month high of $13.95.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last issued its quarterly earnings results on Thursday, August 3rd. The business services provider reported ($0.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.03. Houghton Mifflin Harcourt had a negative return on equity of 16.14% and a negative net margin of 18.60%. The company had revenue of $393.05 million for the quarter, compared to analyst estimates of $387.68 million. During the same quarter last year, the company posted ($0.23) EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts anticipate that Houghton Mifflin Harcourt Company will post ($1.63) EPS for the current fiscal year.

Houghton Mifflin Harcourt Profile

Houghton Mifflin Harcourt Company (HMH) is a global learning company, specializing in education solutions across a range of media. The Company operates through two segments: Education and Trade Publishing. As of December 31, 2016, the Company delivered content, services and technology to both educational institutions and consumers, reaching over 50 million students in approximately 150 countries across the world.

Institutional Ownership by Quarter for Houghton Mifflin Harcourt (NASDAQ:HMHC)

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