Scholastic Corporation (SCHL) Sees Large Drop in Short Interest
Scholastic Corporation (NASDAQ:SCHL) was the recipient of a large decrease in short interest in the month of October. As of October 13th, there was short interest totalling 914,565 shares, a decrease of 26.8% from the September 29th total of 1,248,574 shares. Based on an average daily volume of 152,337 shares, the short-interest ratio is currently 6.0 days. Approximately 3.1% of the shares of the company are sold short.
Scholastic Corporation (NASDAQ:SCHL) opened at 38.28 on Friday. Scholastic Corporation has a 52 week low of $33.51 and a 52 week high of $49.38. The stock has a 50 day moving average of $37.63 and a 200 day moving average of $41.03. The company has a market cap of $1.34 billion, a PE ratio of 48.52 and a beta of 0.73.
Scholastic Corporation (NASDAQ:SCHL) last released its earnings results on Thursday, September 21st. The company reported ($1.67) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.34) by ($0.33). Scholastic Corporation had a return on equity of 3.57% and a net margin of 1.71%. The firm had revenue of $189.20 million for the quarter, compared to analyst estimates of $208.00 million. During the same period last year, the firm earned ($1.15) EPS. The company’s revenue for the quarter was down 33.1% compared to the same quarter last year. Equities research analysts predict that Scholastic Corporation will post $1.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Monday, October 30th. Scholastic Corporation’s dividend payout ratio (DPR) is 77.92%.
Several brokerages have recently weighed in on SCHL. Zacks Investment Research upgraded shares of Scholastic Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Stifel Nicolaus reiterated a “hold” rating on shares of Scholastic Corporation in a research note on Thursday, September 21st. Finally, BidaskClub cut shares of Scholastic Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st.
Institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. lifted its holdings in shares of Scholastic Corporation by 69.6% during the first quarter. Sei Investments Co. now owns 2,454 shares of the company’s stock worth $105,000 after purchasing an additional 1,007 shares during the period. Federated Investors Inc. PA acquired a new stake in shares of Scholastic Corporation during the second quarter worth about $111,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Scholastic Corporation by 5.3% during the second quarter. Public Employees Retirement System of Ohio now owns 3,818 shares of the company’s stock worth $166,000 after purchasing an additional 193 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Scholastic Corporation by 11.5% during the second quarter. Bessemer Group Inc. now owns 4,495 shares of the company’s stock worth $196,000 after purchasing an additional 462 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Scholastic Corporation during the second quarter worth about $211,000. 78.93% of the stock is owned by hedge funds and other institutional investors.
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About Scholastic Corporation
Scholastic Corporation is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International.
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