Scholastic (NASDAQ:SCHL) Reaches New 1-Year Low – Here’s What Happened

Scholastic Co. (NASDAQ:SCHL) shares reached a new 52-week low on Thursday . The stock traded as low as $26.72 and last traded at $26.79, with a volume of 20211 shares changing hands. The stock had previously closed at $27.84.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Scholastic from a “buy” rating to a “hold” rating in a report on Saturday.

Scholastic Stock Up 6.3 %

The company has a market cap of $776.78 million, a P/E ratio of 18.73 and a beta of 1.03. The company has a fifty day moving average of $30.74 and a 200 day moving average of $33.99.

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

Scholastic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, October 31st will be issued 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 yield of 2.95%. Scholastic’s dividend payout ratio is currently 55.17%.

Insiders Place Their Bets

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

Institutional Trading of Scholastic

A number of hedge funds and other institutional investors have recently modified their holdings of SCHL. nVerses Capital LLC bought a new position in Scholastic in the 2nd quarter worth $35,000. Innealta Capital LLC purchased a new position in shares of Scholastic in the second quarter valued at about $64,000. EntryPoint Capital LLC bought a new position in shares of Scholastic in the first quarter worth about $129,000. Quent Capital LLC purchased a new stake in shares of Scholastic during the first quarter worth about $215,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Scholastic by 13.7% during 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. 82.57% of the stock is owned by hedge funds and other institutional investors.

About Scholastic

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.