Houghton Mifflin Harcourt Co (HMHC): Anchorage Advisors Boosts Stake, Gets Board Seat

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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

Washington, D.C.  20549

Under the Securities Exchange Act of 1934
(Amendment No. 1)*
(Name of Issuer)
Common Stock, par value $0.01 per share
 (Title of Class of Securities)
 (CUSIP Number)
Anchorage Capital Group, L.L.C.
610 Broadway
6th Floor
New York, NY 10012
Tel: 212-432-4650
Attention: David Young
 (Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 21, 2016
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See Rule 13d-7 for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
(Continued on following pages)

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