Granite Investment Partners LLC acquired a new position in shares of Houghton Mifflin Harcourt Company (NASDAQ:HMHC) during the second quarter, Holdings Channel reports. The firm acquired 898,270 shares of the business services provider’s stock, valued at approximately $11,048,000.

Several other hedge funds also recently bought and sold shares of HMHC. Sei Investments Co. raised its stake in Houghton Mifflin Harcourt by 1.7% in the first quarter. Sei Investments Co. now owns 43,660 shares of the business services provider’s stock worth $443,000 after buying an additional 711 shares during the last quarter. Alliancebernstein L.P. raised its stake in Houghton Mifflin Harcourt by 1.1% in the first quarter. Alliancebernstein L.P. now owns 207,800 shares of the business services provider’s stock worth $2,109,000 after buying an additional 2,197 shares during the last quarter. KCG Holdings Inc. raised its stake in Houghton Mifflin Harcourt by 14.2% in the first quarter. KCG Holdings Inc. now owns 20,998 shares of the business services provider’s stock worth $213,000 after buying an additional 2,617 shares during the last quarter. American International Group Inc. raised its stake in Houghton Mifflin Harcourt by 7.1% in the first quarter. American International Group Inc. now owns 76,397 shares of the business services provider’s stock worth $775,000 after buying an additional 5,051 shares during the last quarter. Finally, Lapides Asset Management LLC raised its stake in Houghton Mifflin Harcourt by 0.4% in the first quarter. Lapides Asset Management LLC now owns 1,846,800 shares of the business services provider’s stock worth $18,745,000 after buying an additional 7,000 shares during the last quarter.

Houghton Mifflin Harcourt Company (NASDAQ HMHC) opened at 11.25 on Thursday. Houghton Mifflin Harcourt Company has a 52-week low of $9.15 and a 52-week high of $16.18. The stock’s market capitalization is $1.39 billion. The company’s 50-day moving average price is $12.05 and its 200 day moving average price is $11.48.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. The firm had revenue of $393.05 million during the quarter, compared to analysts’ expectations of $387.68 million. Houghton Mifflin Harcourt had a negative return on equity of 16.14% and a negative net margin of 18.60%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.23) earnings per share. On average, equities research analysts anticipate that Houghton Mifflin Harcourt Company will post ($1.55) earnings per share for the current year.

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A number of research firms recently commented on HMHC. Stifel Nicolaus reaffirmed a “hold” rating and set a $12.50 price objective on shares of Houghton Mifflin Harcourt in a research note on Monday, July 10th. BidaskClub lowered Houghton Mifflin Harcourt from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. BMO Capital Markets increased their price objective on Houghton Mifflin Harcourt from $10.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, May 5th. Finally, Zacks Investment Research lowered Houghton Mifflin Harcourt from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Houghton Mifflin Harcourt currently has an average rating of “Hold” and a consensus target price of $16.90.

About Houghton Mifflin Harcourt

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.

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

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