Insider Selling: Scholastic Corporation (SCHL) Insider Sells 2,673 Shares of Stock
Scholastic Corporation (NASDAQ:SCHL) insider Alan J. Boyko sold 2,673 shares of Scholastic stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $42.05, for a total value of $112,399.65. Following the completion of the sale, the insider now directly owns 39,548 shares in the company, valued at approximately $1,662,993.40. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Scholastic Corporation (NASDAQ SCHL) traded up $0.38 during trading hours on Wednesday, hitting $41.98. The stock had a trading volume of 108,182 shares, compared to its average volume of 127,349. The stock has a market cap of $1,463.58, a price-to-earnings ratio of 32.91 and a beta of 0.78. Scholastic Corporation has a fifty-two week low of $33.51 and a fifty-two week high of $49.38.
Scholastic (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, September 21st. The company reported ($1.67) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.34) by ($0.33). The firm had revenue of $189.20 million for the quarter, compared to analysts’ expectations of $208.00 million. Scholastic had a return on equity of 3.57% and a net margin of 1.71%. Scholastic’s revenue was down 33.1% compared to the same quarter last year. During the same period last year, the firm earned ($1.15) EPS. equities research analysts anticipate that Scholastic Corporation will post 1.19 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on SCHL shares. Stifel Nicolaus reaffirmed a “hold” rating on shares of Scholastic in a report on Thursday, September 21st. BidaskClub raised Scholastic from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research raised Scholastic from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th.
Several large investors have recently made changes to their positions in the company. Neuberger Berman Group LLC boosted its stake in shares of Scholastic by 28.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 489,971 shares of the company’s stock worth $18,227,000 after acquiring an additional 108,156 shares in the last quarter. Magnetar Financial LLC boosted its stake in shares of Scholastic by 240.3% during the 3rd quarter. Magnetar Financial LLC now owns 34,689 shares of the company’s stock worth $1,290,000 after acquiring an additional 24,496 shares in the last quarter. Zuckerman Investment Group LLC boosted its stake in shares of Scholastic by 6.9% during the 3rd quarter. Zuckerman Investment Group LLC now owns 631,913 shares of the company’s stock worth $23,507,000 after acquiring an additional 41,037 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Scholastic by 3.0% during the 3rd quarter. Royce & Associates LP now owns 2,218,324 shares of the company’s stock worth $82,522,000 after acquiring an additional 64,324 shares in the last quarter. Finally, OxFORD Asset Management LLP purchased a new stake in shares of Scholastic during the 3rd quarter worth approximately $3,841,000. 79.51% of the stock is currently owned by institutional investors and hedge funds.
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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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