Insider Selling: Judith Newman Unloads 5,461 Shares of Scholastic Corp. Stock (SCHL)
Scholastic Corp. (NASDAQ:SCHL) EVP Judith Newman sold 5,461 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $35.26, for a total value of $192,554.86. Following the sale, the executive vice president now directly owns 36,799 shares in the company, valued at approximately $1,297,533. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Scholastic Corp. (NASDAQ:SCHL) traded down 1.37% during mid-day trading on Thursday, hitting $34.68. 129,826 shares of the company’s stock traded hands. Scholastic Corp. has a 52 week low of $27.40 and a 52 week high of $36.87. The stock’s 50-day moving average is $35.00 and its 200-day moving average is $33.82. The company has a market cap of $1.119 billion and a P/E ratio of 25.80.
Scholastic Corp. (NASDAQ:SCHL) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.33. The company had revenue of $549.30 million for the quarter, compared to the consensus estimate of $516.00 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts predict that Scholastic Corp. will post $2.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, August 27th.
Separately, analysts at Zacks upgraded shares of Scholastic Corp. from a “neutral” rating to an “outperform” rating in a research note on Friday, July 25th. They now have a $37.40 price target on the stock.
Scholastic Corporation (NASDAQ:SCHL) together with its subsidiaries is a global children’s publishing, education and media company.
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