Anchorage Advisors, managed by Kevin Michael Ulrich and Anthony Davis, has boosted its stake in Houghton Mifflin Harcourt Co (NASDAQ:HMHC), as reported in a recently amended filing with the Securities and Exchange Commission. As of December 22, the fund holds a little over 20.5 million shares, up from approximately 20.1 million shares reported in its latest 13F filing. Anchorage’s current position accounts for 16.6% of the company’s common stock.
Anchorage Advisors and Houghton Mifflin Harcourt Co (NASDAQ:HMHC) have also reached an agreement to increase the size of the company’s Board of Directors from eight to nine members and appoint Daniel M. Allen to the Board. “We are pleased to welcome Dan to HMH’s board. With 25 years of financial industry experience, he possesses extensive knowledge of capital markets and will be an invaluable asset to our team moving forward,” commented Larry Fish, the chairman of the board.
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Houghton Mifflin Harcourt Co (NASDAQ:HMHC) is a provider of content and technology for educational institutions. The company has a market cap of $1.38 billion and does not pay a dividend. So far this year, the stock has been trending south, currently down by 47% for the year. Hedge fund sentiment towards Houghton Mifflin Harcourt took a nosedive during the third quarter, as the number of long positions among the funds followed by Insider Monkey dropped to 18 at the end of September, from 24 registered a quarter before. Glenn J. Krevlin‘s Glenhill Advisors had its investment increased by 19% to 9.32 million shares, while Gilchrist Berg, the manager of Water Street Capital, boosted his fund’s holding by 28% to 5.93 million shares.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| ANCHORAGE CAPITAL GROUP | 0 | 20,511,494 | 0 | 20,511,494 | 20,511,494 | 16.6% |
| ANCHORAGE ADVISORS MANAGEMENT | 0 | 20,511,494 | 0 | 20,511,494 | 20,511,494 | 16.6% |
| KEVIN M. ULRICH | 0 | 20,511,494 | 0 | 20,511,494 | 20,511,494 | 16.6% |
| ANCHORAGE CAPITAL MASTER OFFSHORE, LTD | 0 | 19,746,222 | 0 | 19,746,222 | 19,746,222 | 16.0% |
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Page 1 of 9 – SEC Filing
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