HMH Holding Inc's Lock-Up Period To End on September 28th (NASDAQ:HMH)

Key Points

• HMH’s lock-up period ends September 28, allowing insiders and major shareholders to sell shares. The company issued 10.52 million IPO shares at $20 each, representing a $210.4 million offering.
• Analysts remain broadly positive, with a consensus “Buy” rating and a $28 price target. Stifel raised its target to $28, while Evercore set a $24 target.
• HMH reported quarterly EPS of $0.42, exceeding the $0.23 consensus estimate, on revenue of $170.82 million. The stock recently opened at $18.85, below its $24.50 12-month high.

HMH's (NASDAQ:HMH - Get Free Report) lock-up period is set to end on Monday, September 28th. 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. After the end of HMH's lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analysts Set New Price Targets

Several brokerages recently issued reports on HMH. Evercore set a $24.00 price target on shares of HMH in a research report on Friday, August 7th. Stifel Nicolaus upped their target price on shares of HMH from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Finally, Zacks Research upgraded shares of HMH from a "strong sell" rating to a "hold" rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $28.00.

HMH Price Performance

NASDAQ HMH opened at $18.85 on Monday. The firm has a 50 day simple moving average of $19.91. The company has a quick ratio of 1.82, a current ratio of 2.97 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $828.08 million and a P/E ratio of 44.88. HMH has a 12-month low of $16.32 and a 12-month high of $24.50.

HMH (NASDAQ:HMH - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.19. The company had revenue of $170.82 million for the quarter. As a group, sell-side analysts expect that HMH will post 1.21 EPS for the current year.

Hedge Funds Weigh In On HMH

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new position in HMH in the 2nd quarter valued at about $1,076,000. Readystate Asset Management LP acquired a new position in HMH in the 2nd quarter valued at $1,499,000. Finally, Citadel Advisors LLC bought a new stake in HMH during the second quarter worth about $12,624,000.

About HMH

We are a leading provider of highly engineered, mission-critical equipment solutions, providing customers with a comprehensive portfolio of drilling equipment, services and systems utilized in oil and gas drilling operations, both offshore and onshore. Our global reach, technical expertise and innovative product offerings, coupled with our integrated operations from manufacturing to aftermarket services, allow us to provide customers with first class technology, engineering and project management services through the entire asset lifecycle of the equipment we provide.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.