nVerses Capital LLC Invests $35,000 in Scholastic Co. (NASDAQ:SCHL)

nVerses Capital LLC acquired a new stake in Scholastic Co. (NASDAQ:SCHL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,000 shares of the company’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SCHL. Innealta Capital LLC bought a new stake in Scholastic in the 2nd quarter valued at $64,000. EntryPoint Capital LLC bought a new stake in shares of Scholastic in the first quarter valued at about $129,000. Quest Partners LLC acquired a new stake in Scholastic during the fourth quarter worth about $172,000. Quent Capital LLC bought a new position in Scholastic during the first quarter valued at about $215,000. Finally, Allspring Global Investments Holdings LLC raised its holdings 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 acquiring an additional 697 shares in the last quarter. Institutional investors own 82.57% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Scholastic

In related news, 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 price of $30.46 per share, with a total value of $50,990.04. Following the purchase, the chief executive officer now directly owns 104,349 shares in the company, valued at $3,178,470.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Warwick Peter purchased 1,674 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average cost 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 approximately $3,178,470.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Iole Lucchese purchased 1,654 shares of Scholastic stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average price of $30.49 per share, for a total transaction 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 $2,264,309.36. The disclosure for this purchase can be found here. 18.62% of the stock is currently owned by insiders.

Scholastic Price Performance

Shares of Scholastic stock opened at $31.58 on Friday. Scholastic Co. has a 52-week low of $28.47 and a 52-week high of $42.38. The firm has a market capitalization of $891.82 million, a PE ratio of 21.78 and a beta of 1.03. The company’s fifty day moving average price is $32.34 and its two-hundred day moving average price is $35.11.

Scholastic (NASDAQ:SCHL) last issued its earnings results on Thursday, July 18th. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.66 by ($0.93). Scholastic had a net margin of 0.76% and a return on equity of 3.34%. The business had revenue of $474.90 million for the quarter, compared to analyst estimates of $552.50 million. Analysts predict that Scholastic Co. will post 1.52 earnings per share for the current fiscal year.

Scholastic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.20 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.53%. Scholastic’s dividend payout ratio is currently 55.17%.

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.