StockNews.com Downgrades Scholastic (NASDAQ:SCHL) to Hold

by · The Markets Daily

Scholastic (NASDAQ:SCHL – Get Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Scholastic Stock Performance

Shares of SCHL opened at $27.16 on Friday. The company has a 50-day moving average of $30.65 and a two-hundred day moving average of $33.91. The stock has a market cap of $767.00 million, a price-to-earnings ratio of 18.73 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.14 and a quick ratio of 0.77. Scholastic has a one year low of $25.54 and a one year high of $41.79.

Scholastic (NASDAQ:SCHL – Get Free Report) last posted its quarterly earnings data on Thursday, September 26th. The company reported ($2.13) earnings per share for the quarter, topping the consensus estimate of ($2.48) by $0.35. The firm 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 4.32%. During the same period in the previous year, the company posted ($2.20) EPS. On average, equities research analysts expect that Scholastic will post 1.41 earnings per share for the current year.

Insider Activity

In related news, CEO Warwick Peter bought 1,674 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average price of $30.46 per share, for a total transaction of $50,990.04. Following the transaction, the chief executive officer now directly owns 104,349 shares in the company, valued at $3,178,470.54. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Iole Lucchese purchased 1,654 shares of the stock in a transaction that occurred on 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 purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Warwick Peter acquired 1,674 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average cost of $30.46 per share, for a total transaction of $50,990.04. Following the transaction, the chief executive officer now owns 104,349 shares of the company’s stock, valued at approximately $3,178,470.54. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 18.62% of the stock is owned by corporate insiders.

Institutional Trading of Scholastic

Several large investors have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in shares of Scholastic in the 2nd quarter valued at approximately $35,000. Innealta Capital LLC acquired a new stake in shares of Scholastic in the second quarter worth $64,000. EntryPoint Capital LLC bought a new stake in shares of Scholastic during the 1st quarter worth $129,000. Quent Capital LLC bought a new stake in shares of Scholastic during the 1st quarter worth $215,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Scholastic by 13.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,776 shares of the company’s stock valued at $218,000 after buying an additional 697 shares during the last quarter. 82.57% of the stock is owned by institutional investors.

Scholastic Company Profile

(Get Free Report)

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.

Further Reading