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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Page 2 of 9 – SEC Filing
CUSIP No. 44157R109 | SCHEDULE 13D |
1 | NAMES OF REPORTING PERSONS | ||||
ANCHORAGE CAPITAL GROUP, L.L.C. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☐ | ||||
3 | SEC USE ONLY | ||||
4 | SOURCE OF FUNDS | ||||
AF | |||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | ☐ | |||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||
DELAWARE | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | |||
0 | |||||
8 | SHARED VOTING POWER | ||||
20,511,494(1) | |||||
9 | SOLE DISPOSITIVE POWER | ||||
0 | |||||
10 | SHARED DISPOSITIVE POWER | ||||
20,511,494(1) | |||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||
20,511,494(1) | |||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN ORDINARY SHARES | ☐ | |||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||
16.6%(2) | |||||
14 | TYPE OF REPORTING PERSON | ||||
OO, IA | |||||
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Page 3 of 9 – SEC Filing
CUSIP No. 44157R109 | SCHEDULE 13D |
1 | NAMES OF REPORTING PERSONS | ||||
ANCHORAGE ADVISORS MANAGEMENT, L.L.C. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☐ | ||||
3 | SEC USE ONLY | ||||
4 | SOURCE OF FUNDS | ||||
AF | |||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | ☐ | |||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||
DELAWARE | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | |||
0 | |||||
8 | SHARED VOTING POWER | ||||
20,511,494 (1) | |||||
9 | SOLE DISPOSITIVE POWER | ||||
0 | |||||
10 | SHARED DISPOSITIVE POWER | ||||
20,511,494 (1) | |||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||
20,511,494 (1) | |||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN ORDINARY SHARES | ☐ | |||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||
16.6%(2) | |||||
14 | TYPE OF REPORTING PERSON | ||||
OO, HC | |||||
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Page 4 of 9 – SEC Filing
CUSIP No. 44157R109 | SCHEDULE 13D |
1 | NAMES OF REPORTING PERSONS | ||||
KEVIN M. ULRICH | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☐ | ||||
3 | SEC USE ONLY | ||||
4 | SOURCE OF FUNDS | ||||
AF | |||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | ☐ | |||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||
CANADA | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | |||
0 | |||||
8 | SHARED VOTING POWER | ||||
20,511,494 (1) | |||||
9 | SOLE DISPOSITIVE POWER | ||||
0 | |||||
10 | SHARED DISPOSITIVE POWER | ||||
20,511,494 (1) | |||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||
20,511,494 (1) | |||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN ORDINARY SHARES | ☐ | |||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||
16.6%(2) | |||||
14 | TYPE OF REPORTING PERSON | ||||
IN, HC | |||||
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Page 5 of 9 – SEC Filing
CUSIP No. 44157R109 | SCHEDULE 13D |
1 | NAMES OF REPORTING PERSONS | ||||
ANCHORAGE CAPITAL MASTER OFFSHORE, LTD. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☐ | ||||
3 | SEC USE ONLY | ||||
4 | SOURCE OF FUNDS | ||||
WC | |||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | ☐ | |||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||
CAYMAN ISLANDS | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | |||
0 | |||||
8 | SHARED VOTING POWER | ||||
19,746,222(1) | |||||
9 | SOLE DISPOSITIVE POWER | ||||
0 | |||||
10 | SHARED DISPOSITIVE POWER | ||||
19,746,222(1) | |||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||
19,746,222(1) | |||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN ORDINARY SHARES | ☐ | |||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||
16.0%(2) | |||||
14 | TYPE OF REPORTING PERSON | ||||
OO | |||||
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Page 6 of 9 – SEC Filing
Item 1. | Security and Issuer |
Item 4. | Purpose of Transaction |
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Page 7 of 9 – SEC Filing
Item 6. | Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. |
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Page 8 of 9 – SEC Filing
Item 7. | Material to be Filed as Exhibits. |
Exhibit E: | Nomination Agreement dated as of December 21, 2016, by and among Houghton Mifflin Harcourt Company and certain affiliates of Anchorage Capital Group, L.L.C. (incorporated by reference to Exhibit 10.1 to the current report on Form 8-K filed by the Issuer on December 22, 2016) |