Buffett Just Can’t Get Enough of Phillips 66 (PSX); Plus Two Bullish Moves from Billionaire Glenn Krevlin

In a Schedule 13G filing, Glenn Krevlin’s Glenhill Advisors LLC reported owning 6.96 million shares of Houghton Mifflin Harcourt Co (NASDAQ:HMHC), which account for 5.2% of the company’s outstanding shares. This compares with the position of 3.26 million shares reported by Glenhill through its 13F filing for the September quarter. The shares of the global learning company that offers education solutions to more than 50 million students have been on a slide since early August and are down by 12% over the past year. The digitalization of educational content has forced the company to change its strategy in recent years, so Houghton Mifflin Harcourt Co (NASDAQ:HMHC) has shifted its focus to digital and online learning products to capitalize on the changing trends. The company reported net sales of $1.12 billion for the nine months that ended September 30, up from $1.11 billion reported for the same period of the prior year. However, the company’s net loss for the first nine months of 2015 widened year-over-year to $36.60 million from $27.76 million. The hedge fund sentiment towards the stock was positive during the third quarter, with the number of money managers tracked by Insider Monkey that were invested in the company increasing to 37 from 34. Those 37 funds amassed 37.40% of the company’s outstanding shares. Marc Lasry’s Avenue Capital holds a 4.29 million-share position in Houghton Mifflin Harcourt Co (NASDAQ:HMHC) as of the end of the third quarter.

According to a separate 13G filing, Glenhill Advisors currently owns 8.15 million shares of Lionbridge Technologies Inc. (NASDAQ:LIOX), which make up 12.6% of the company’s common stock. The investment firm owned 7.65 million shares on September 30, as revealed by the fund’s 13F filing for the September quarter. It appears that this move makes a lot of sense on the surface, if considering the company’s revenue growth and valuation metrics. Lionbridge Technologies Inc. (NASDAQ:LIOX) offers translation, online marketing, content management and application testing solutions and has Microsoft Corporation (NASDAQ:MSFT) as one of its key clients. The tech giant has been engaged in a reorganization plan throughout the last several quarters, which led to lower project volume and related services revenue for Lionbridge and other suppliers. Even so, Lionbridge Technologies Inc. (NASDAQ:LIOX) reported revenue of $419.2 million for the nine months that ended September 30, compared to $370.9 million reported for the same period of the prior year. It should also be mentioned that the stock trades at an attractive P/E ratio of 10.14, which points to strong upside in the upcoming quarters (assuming analysts’ earnings estimates are reasonable). 16 hedge funds from our system had positions in the company at the end of the third quarter, accumulating 18.20% of its shares. Jim Simons’ Renaissance Technologies owns 522,300 shares of Lionbridge Technologies Inc. (NASDAQ:LIOX) as of September 30.

Disclosure: None