HMH Holding Inc's (NASDAQ:HMH) Quiet Period Set To End on May 11th

Key Points

• HMH's quiet period ends on May 11 following its April 1 IPO of 10,520,000 shares at $20 (totaling $210.4M); underwriters are expected to begin research coverage once the quiet period lapses.
• Several brokerages launched coverage on April 27 with mostly Buy/Outperform ratings, leaving HMH with a consensus rating of Buy and a consensus price target of $28.40.
• Insiders—including the CEO—bought shares at $20 on April 2, and insiders have acquired a total of 74,000 shares (about $1.48M) over the past 90 days.

HMH's (NASDAQ:HMH - Get Free Report) quiet period is set to end on Monday, May 11th. HMH had issued 10,520,000 shares in its IPO on April 1st. The total size of the offering was $210,400,000 based on an initial share price of $20.00. During HMH's quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company's quiet period, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HMH shares. JPMorgan Chase & Co. started coverage on HMH in a report on Monday, April 27th. They issued an "overweight" rating and a $26.00 price target on the stock. Piper Sandler started coverage on HMH in a report on Monday, April 27th. They issued an "overweight" rating and a $32.00 price target on the stock. Stifel Nicolaus started coverage on HMH in a report on Monday, April 27th. They issued a "buy" rating and a $27.00 price target on the stock. Pickering Energy Partners started coverage on HMH in a report on Monday, April 27th. They issued an "outperform" rating on the stock. Finally, Evercore started coverage on HMH in a report on Monday, April 27th. They issued an "outperform" rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $28.40.

HMH Price Performance

NASDAQ HMH opened at $21.26 on Monday. HMH has a 12 month low of $16.32 and a 12 month high of $21.65.

Insider Transactions at HMH

In other news, insider Roy A. Dyrseth acquired 8,000 shares of the firm's stock in a transaction dated Thursday, April 2nd. The shares were acquired at an average cost of $20.00 per share, with a total value of $160,000.00. Following the acquisition, the insider directly owned 68,276 shares of the company's stock, valued at approximately $1,365,520. The trade was a 13.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eirik Bergsvik acquired 10,000 shares of the firm's stock in a transaction dated Thursday, April 2nd. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $200,000.00. Following the completion of the acquisition, the chief executive officer directly owned 121,858 shares in the company, valued at approximately $2,437,160. This represents a 8.94% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 74,000 shares of company stock valued at $1,480,000 over the last 90 days.

About HMH

Houghton Mifflin Harcourt (HMH) is an education and learning company that produces curricular content, instructional materials, assessment tools and digital learning platforms primarily for the K–12 market. The company develops and licenses print and digital resources designed to support classroom instruction, remote and blended learning, and student assessment across a range of subjects and grade levels.

HMH’s offerings include core and supplemental curricula, adaptive and online learning technologies, formative and summative assessments, and professional development services for educators.

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