HMH (NASDAQ:HMH) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase began coverage of Houghton Mifflin Harcourt (HMH) with an overweight rating and a $26.00 price target, implying roughly a 29% upside from the prior close.
• Several other firms (Evercore, Citigroup, Piper Sandler, Stifel) have also initiated coverage or upgraded HMH to buy/overweight ratings, with an average analyst price target of $28.40.
• Insider buying has increased recently: CEO Eirik Bergsvik bought 10,000 shares and Director Lance Loeffler bought 5,000 shares at about $20 each, and insiders acquired 74,000 shares (~$1.48M) over the past 90 days.

Investment analysts at JPMorgan Chase & Co. began coverage on shares of HMH (NASDAQ:HMH - Get Free Report) in a note issued to investors on Monday. The brokerage set an "overweight" rating and a $26.00 price target on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 29.16% from the company's previous close.

Other analysts also recently issued research reports about the stock. Evercore began coverage on shares of HMH in a report on Monday. They set an "outperform" rating and a $27.00 price target for the company. Wall Street Zen upgraded HMH from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup assumed coverage on HMH in a research report on Sunday. They issued a "buy" rating and a $30.00 price objective for the company. Piper Sandler began coverage on HMH in a research report on Monday. They issued an "overweight" rating and a $32.00 target price on the stock. Finally, Stifel Nicolaus began coverage on HMH in a research note on Monday. They issued a "buy" rating and a $27.00 price target on the stock. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $28.40.

HMH Price Performance

Shares of HMH stock opened at $20.13 on Monday. HMH has a 12 month low of $16.32 and a 12 month high of $21.00.

Insider Activity at HMH

In related news, Director Lance Loeffler purchased 5,000 shares of HMH 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 $100,000.00. Following the purchase, the director owned 13,486 shares of the company's stock, valued at approximately $269,720. The trade was a 58.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eirik Bergsvik acquired 10,000 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were bought at an average cost of $20.00 per share, with a total value of $200,000.00. Following the transaction, the chief executive officer directly owned 121,858 shares in the company, valued at $2,437,160. This trade represents a 8.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 74,000 shares of company stock valued at $1,480,000 over the last 90 days.

HMH Company Profile

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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