Scholastic (NASDAQ:SCHL) Shares Down 3.4% – Here’s Why

Scholastic Co. (NASDAQ:SCHL)’s stock price traded down 3.4% during mid-day trading on Wednesday . The stock traded as low as $28.76 and last traded at $28.92. 49,505 shares changed hands during trading, a decline of 76% from the average session volume of 205,393 shares. The stock had previously closed at $29.95.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Scholastic from a “hold” rating to a “buy” rating in a report on Friday, September 27th.

Scholastic Stock Up 6.3 %

The firm’s fifty day moving average price is $30.74 and its 200 day moving average price is $33.99. The stock has a market cap of $767.00 million, a PE ratio of 18.34 and a beta of 1.03.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, September 26th. The company reported ($2.13) EPS for the quarter, topping the consensus estimate of ($2.48) by $0.35. The business had revenue of $237.20 million for the quarter, compared to analysts’ expectations of $233.49 million. Scholastic had a net margin of 1.49% and a return on equity of 4.25%. During the same quarter in the previous year, the company earned ($2.20) EPS. As a group, analysts anticipate that Scholastic Co. will post 1.23 earnings per share for the current fiscal year.

Scholastic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.95%. Scholastic’s dividend payout ratio is currently 55.17%.

Insider Activity at Scholastic

In related news, CEO Warwick Peter acquired 1,674 shares of Scholastic stock in a transaction on Tuesday, July 23rd. The shares were bought at an average cost of $30.46 per share, with a total value of $50,990.04. Following the completion of the purchase, the chief executive officer now directly owns 104,349 shares of the company’s stock, valued at $3,178,470.54. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Scholastic news, EVP Iole Lucchese purchased 1,654 shares of Scholastic stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average cost of $30.49 per share, for a total transaction of $50,430.46. Following the completion of the acquisition, the executive vice president now owns 74,264 shares in the company, valued at $2,264,309.36. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Warwick Peter purchased 1,674 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average cost of $30.46 per share, with a total value of $50,990.04. Following the completion of the purchase, the chief executive officer now directly owns 104,349 shares in the company, valued at $3,178,470.54. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 18.62% of the stock is owned by insiders.

Institutional Trading of Scholastic

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC bought a new position in shares of Scholastic in the second quarter worth about $35,000. Innealta Capital LLC purchased a new position in shares of Scholastic during the second quarter worth approximately $64,000. EntryPoint Capital LLC bought a new stake in shares of Scholastic during the first quarter valued at approximately $129,000. Quent Capital LLC purchased a new stake in shares of Scholastic in the first quarter valued at approximately $215,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Scholastic by 13.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,776 shares of the company’s stock worth $218,000 after purchasing an additional 697 shares in the last quarter. Hedge funds and other institutional investors own 82.57% of the company’s stock.

Scholastic Company Profile

Scholastic Corporation publishes and distributes children’s books worldwide. It operates in three segments: Children’s Book Publishing and Distribution, Education Solutions, and International. The Children’s Book Publishing and Distribution segment engages in publication and distribution of children’s print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.