SG Americas Securities LLC Makes New $413,000 Investment in Scholastic Co. (NASDAQ:SCHL)

SG Americas Securities LLC acquired a new position in Scholastic Co. (NASDAQ:SCHL) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,905 shares of the company’s stock, valued at approximately $413,000.

Several other hedge funds have also recently modified their holdings of the stock. Algert Global LLC raised its position in shares of Scholastic by 16.7% during the 2nd quarter. Algert Global LLC now owns 28,263 shares of the company’s stock worth $1,002,000 after purchasing an additional 4,040 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Scholastic during the 2nd quarter worth about $363,000. Millennium Management LLC raised its position in shares of Scholastic by 45.0% during the 2nd quarter. Millennium Management LLC now owns 182,630 shares of the company’s stock worth $6,478,000 after purchasing an additional 56,647 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Scholastic by 62.6% during the 2nd quarter. AQR Capital Management LLC now owns 67,417 shares of the company’s stock worth $2,391,000 after purchasing an additional 25,958 shares during the last quarter. Finally, Caxton Associates LP raised its position in shares of Scholastic by 37.1% during the 2nd quarter. Caxton Associates LP now owns 32,889 shares of the company’s stock worth $1,167,000 after purchasing an additional 8,903 shares during the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Scholastic Stock Down 1.2 %

SCHL opened at $26.50 on Friday. Scholastic Co. has a twelve month low of $25.54 and a twelve month high of $41.79. The company has a market cap of $745.71 million, a PE ratio of 47.32 and a beta of 1.03. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $30.07 and a 200 day moving average price of $33.24.

Scholastic (NASDAQ:SCHL) last released its earnings results on Thursday, September 26th. The company reported ($2.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.48) by $0.35. Scholastic had a net margin of 1.49% and a return on equity of 4.32%. The business had revenue of $237.20 million for the quarter, compared to analyst estimates of $233.49 million. During the same period last year, the company posted ($2.20) EPS. Sell-side analysts expect that Scholastic Co. will post 1.41 earnings per share for the current fiscal year.

Scholastic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, October 31st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Thursday, October 31st. Scholastic’s dividend payout ratio (DPR) is 142.86%.

Insiders Place Their Bets

In other Scholastic news, EVP Iole Lucchese bought 1,654 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were acquired at an average cost of $30.49 per share, with a total value of $50,430.46. Following the purchase, the executive vice president now directly owns 74,264 shares of the company’s stock, valued at $2,264,309.36. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Warwick Peter purchased 1,674 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average price of $30.46 per share, for a total transaction 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. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Iole Lucchese purchased 1,654 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average price of $30.49 per share, with a total value of $50,430.46. Following the acquisition, the executive vice president now directly owns 74,264 shares in the company, valued at approximately $2,264,309.36. The trade was 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.

Scholastic 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.