John Wiley & Sons (NYSE:WLY) Shares Down 4.3% – Here’s What Happened

John Wiley & Sons, Inc. (NYSE:WLY)’s share price traded down 4.3% on Thursday . The company traded as low as $46.28 and last traded at $47.35. 82,709 shares changed hands during trading, a decline of 75% from the average session volume of 335,156 shares. The stock had previously closed at $49.47.

John Wiley & Sons Stock Down 7.2 %

The business has a 50-day simple moving average of $50.46 and a two-hundred day simple moving average of $45.82. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.53 and a current ratio of 0.57. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -23.20 and a beta of 0.85.

John Wiley & Sons (NYSE:WLY) last released its quarterly earnings data on Thursday, December 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. The firm had revenue of $426.60 million during the quarter, compared to the consensus estimate of $420.00 million. John Wiley & Sons had a positive return on equity of 21.59% and a negative net margin of 6.00%. The firm’s revenue was down 13.4% compared to the same quarter last year.

John Wiley & Sons Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Tuesday, October 8th were given a $0.352 dividend. This represents a $1.41 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Tuesday, October 8th. John Wiley & Sons’s dividend payout ratio is currently -70.50%.

Insider Activity

In related news, EVP Danielle Mcmahan sold 2,318 shares of John Wiley & Sons stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $49.41, for a total value of $114,532.38. Following the transaction, the executive vice president now owns 8,978 shares in the company, valued at approximately $443,602.98. This trade represents a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in John Wiley & Sons by 39.2% in the third quarter. GAMMA Investing LLC now owns 1,187 shares of the company’s stock valued at $57,000 after buying an additional 334 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in John Wiley & Sons in the third quarter valued at about $57,000. Skandinaviska Enskilda Banken AB publ bought a new stake in John Wiley & Sons in the second quarter valued at about $60,000. Point72 DIFC Ltd bought a new stake in John Wiley & Sons in the second quarter valued at about $100,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in John Wiley & Sons in the second quarter valued at about $121,000. Institutional investors and hedge funds own 73.94% of the company’s stock.

About John Wiley & Sons

John Wiley & Sons, Inc operates as a research and education company worldwide. The company operates through three segments: Research, Academic, and Talent. The company offers scientific, technical, medical, and scholarly journals, as well as related content and services to learned societies, individual researchers, other professionals, and academic, corporate, and government libraries.