Bank of America Corp DE Purchases 353,541 Shares of McGraw Hill, Inc. $MH

Key Points

• Bank of America acquired 353,541 McGraw Hill shares during the second quarter, valued at approximately $3.35 million and representing a 0.18% stake. Several other institutional investors also initiated positions.
• McGraw Hill reported quarterly earnings of $0.59 per share, exceeding estimates of $0.48, while revenue rose 2.7% year over year to $549.9 million.
• Shares were recently trading at $12.65, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $17.20.

Bank of America Corp DE acquired a new position in shares of McGraw Hill, Inc. (NYSE:MH - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 353,541 shares of the company's stock, valued at approximately $3,348,000. Bank of America Corp DE owned 0.18% of McGraw Hill at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legal & General Group Plc acquired a new position in McGraw Hill during the 2nd quarter worth approximately $25,000. PNC Financial Services Group Inc. acquired a new stake in shares of McGraw Hill in the 1st quarter valued at $68,000. NewEdge Advisors LLC purchased a new stake in shares of McGraw Hill during the 1st quarter worth $84,000. State of Wyoming purchased a new stake in shares of McGraw Hill during the 2nd quarter worth $154,000. Finally, Deutsche Bank AG acquired a new position in shares of McGraw Hill during the second quarter worth $220,000.

McGraw Hill Stock Up 1.2%

Shares of NYSE MH opened at $12.65 on Wednesday. The business has a 50-day moving average price of $12.40 and a 200 day moving average price of $12.12. The stock has a market cap of $2.42 billion, a PE ratio of 25.30 and a beta of -0.85. The company has a quick ratio of 0.62, a current ratio of 0.78 and a debt-to-equity ratio of 3.25. McGraw Hill, Inc. has a 52-week low of $8.94 and a 52-week high of $18.00.

McGraw Hill (NYSE:MH - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.11. The company had revenue of $549.90 million during the quarter. McGraw Hill had a return on equity of 62.57% and a net margin of 4.38%.The company's quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that McGraw Hill, Inc. will post 1.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MH. Weiss Ratings raised McGraw Hill from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, August 14th. Robert W. Baird lowered their price objective on McGraw Hill from $19.00 to $16.00 and set an "outperform" rating for the company in a research report on Friday, June 12th. Wall Street Zen upgraded McGraw Hill from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. BMO Capital Markets raised their target price on McGraw Hill from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Finally, BTIG Research restated a "buy" rating and set a $17.00 target price on shares of McGraw Hill in a research note on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $17.20.

McGraw Hill Company Profile

McGraw Hill is an education company that develops learning materials, digital courseware and assessment products for students, educators and institutions. Its offerings span higher education, K–12 schools, professional learning and international markets, with products designed to support instruction, curriculum planning, homework, testing and student progress tracking.

The company's portfolio includes digital learning platforms, college textbooks, adaptive learning tools, online assignments, teacher resources and educational assessments.

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