Scholastic (NASDAQ:SCHL) Stock Price Up 4.9% – What’s Next?

Scholastic Co. (NASDAQ:SCHL)’s share price rose 4.9% on Wednesday . The company traded as high as $27.84 and last traded at $27.84. Approximately 114,998 shares changed hands during trading, a decline of 45% from the average daily volume of 209,213 shares. The stock had previously closed at $26.55.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Scholastic from a “buy” rating to a “hold” rating in a report on Saturday, October 5th.

Scholastic Stock Performance

The firm has a 50 day moving average price of $30.33 and a 200-day moving average price of $33.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.64 and a current ratio of 1.14. The company has a market cap of $761.47 million, a P/E ratio of 48.80 and a beta of 1.03.

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 analysts’ consensus estimates of ($2.48) by $0.35. Scholastic had a return on equity of 4.32% and a net margin of 1.49%. The firm had revenue of $237.20 million during the quarter, compared to analysts’ expectations of $233.49 million. During the same quarter in the prior year, the business earned ($2.20) earnings per share. On average, research analysts predict that Scholastic Co. will post 1.41 EPS for the current year.

Scholastic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, October 31st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.80 annualized dividend and a yield of 2.96%. Scholastic’s dividend payout ratio (DPR) is presently 142.86%.

Insider Buying and Selling at Scholastic

In other Scholastic news, CEO Warwick Peter bought 1,674 shares of the stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average price of $30.46 per share, with a total value of $50,990.04. Following the acquisition, the chief executive officer now directly owns 104,349 shares of the company’s stock, valued at $3,178,470.54. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Iole Lucchese acquired 1,654 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average price of $30.49 per share, with a total value of $50,430.46. Following the completion of the transaction, the executive vice president now owns 74,264 shares of the company’s stock, valued at approximately $2,264,309.36. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Warwick Peter purchased 1,674 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average price of $30.46 per share, for a total transaction 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 approximately $3,178,470.54. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 17.59% of the company’s stock.

Institutional Trading of Scholastic

A number of hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in shares of Scholastic by 18.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,120,491 shares of the company’s stock valued at $39,744,000 after acquiring an additional 171,775 shares in the last quarter. Azarias Capital Management L.P. boosted its holdings in Scholastic by 32.7% during the second quarter. Azarias Capital Management L.P. now owns 264,565 shares of the company’s stock valued at $9,384,000 after purchasing an additional 65,120 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Scholastic by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 488,259 shares of the company’s stock valued at $17,319,000 after purchasing an additional 56,835 shares during the period. Millennium Management LLC raised its holdings in shares of Scholastic by 45.0% in the 2nd quarter. Millennium Management LLC now owns 182,630 shares of the company’s stock worth $6,478,000 after buying an additional 56,647 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Scholastic in the 2nd quarter worth approximately $1,936,000. 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.