Scholastic (NASDAQ:SCHL) Stock Rating Lowered by StockNews.com

Scholastic (NASDAQ:SCHL) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Scholastic Price Performance

Shares of NASDAQ SCHL opened at $27.16 on Friday. The firm has a market capitalization of $776.78 million, a PE ratio of 18.73 and a beta of 1.03. Scholastic has a 1-year low of $25.54 and a 1-year high of $41.79. The business’s fifty day moving average price is $30.74 and its two-hundred day moving average price is $33.99.

Scholastic (NASDAQ:SCHL) last posted its earnings results on Thursday, September 26th. The company reported ($2.13) EPS for the quarter, beating 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 firm 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 earned ($2.20) EPS. Equities research analysts expect that Scholastic will post 1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Scholastic

A number of hedge funds have recently modified their holdings of the business. nVerses Capital LLC purchased a new position in shares of Scholastic during the second quarter valued at $35,000. Innealta Capital LLC purchased a new position in Scholastic during the 2nd quarter valued at about $64,000. EntryPoint Capital LLC acquired a new position in shares of Scholastic in the 1st quarter valued at about $129,000. Quent Capital LLC purchased a new stake in shares of Scholastic in the first quarter worth approximately $215,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings 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 during the period. Hedge funds and other 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.