Houghton Mifflin Harcourt Co (HMHC) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in shares of Houghton Mifflin Harcourt Co (NASDAQ:HMHC) by 13.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 145,967 shares of the business services provider’s stock after selling 21,985 shares during the quarter. California Public Employees Retirement System’s holdings in Houghton Mifflin Harcourt were worth $1,117,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HMHC. BlackRock Inc. raised its position in shares of Houghton Mifflin Harcourt by 5.5% during the second quarter. BlackRock Inc. now owns 7,001,672 shares of the business services provider’s stock worth $53,562,000 after purchasing an additional 364,281 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Houghton Mifflin Harcourt by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,112,078 shares of the business services provider’s stock worth $39,109,000 after purchasing an additional 419,162 shares during the period. Wells Fargo & Company MN raised its position in shares of Houghton Mifflin Harcourt by 3.4% during the second quarter. Wells Fargo & Company MN now owns 3,082,852 shares of the business services provider’s stock worth $23,584,000 after purchasing an additional 101,892 shares during the period. OppenheimerFunds Inc. raised its position in shares of Houghton Mifflin Harcourt by 2.6% during the second quarter. OppenheimerFunds Inc. now owns 2,010,842 shares of the business services provider’s stock worth $15,383,000 after purchasing an additional 51,194 shares during the period. Finally, Lapides Asset Management LLC raised its position in shares of Houghton Mifflin Harcourt by 11.2% during the second quarter. Lapides Asset Management LLC now owns 1,957,300 shares of the business services provider’s stock worth $14,973,000 after purchasing an additional 196,500 shares during the period. Hedge funds and other institutional investors own 95.68% of the company’s stock.

A number of brokerages have recently weighed in on HMHC. BidaskClub raised Houghton Mifflin Harcourt from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. Zacks Investment Research lowered Houghton Mifflin Harcourt from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.50 target price (down from $8.00) on shares of Houghton Mifflin Harcourt in a research report on Friday, August 3rd. Morgan Stanley lowered their target price on Houghton Mifflin Harcourt from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Friday, August 3rd. Finally, ValuEngine raised Houghton Mifflin Harcourt from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $8.42.

Shares of NASDAQ:HMHC opened at $6.90 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.66 and a debt-to-equity ratio of 1.03. Houghton Mifflin Harcourt Co has a twelve month low of $5.10 and a twelve month high of $10.05. The company has a market cap of $857.46 million, a PE ratio of -5.52 and a beta of 0.46.

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About Houghton Mifflin Harcourt

Houghton Mifflin Harcourt Company, a learning company, provides content, services, and technology solutions for educational institutions and consumers 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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Institutional Ownership by Quarter for Houghton Mifflin Harcourt (NASDAQ:HMHC)

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