BidaskClub Lowers Scholastic (SCHL) to Strong Sell

Scholastic (NASDAQ:SCHL) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

A number of other research firms have also recently commented on SCHL. Zacks Investment Research cut shares of Scholastic from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Stifel Nicolaus upped their target price on shares of Scholastic from $38.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, December 13th. Finally, TheStreet raised shares of Scholastic from a “c” rating to a “b-” rating in a research report on Thursday, December 14th.

Scholastic (NASDAQ:SCHL) opened at $39.40 on Friday. Scholastic has a 1 year low of $33.51 and a 1 year high of $46.95. The company has a market cap of $1,364.08, a PE ratio of 87.56 and a beta of 0.78.

Scholastic (NASDAQ:SCHL) last posted its earnings results on Thursday, December 14th. The company reported $1.92 EPS for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.17. Scholastic had a net margin of 1.07% and a return on equity of 3.41%. The company had revenue of $598.30 million for the quarter, compared to analysts’ expectations of $601.40 million. During the same quarter in the prior year, the company posted $1.92 earnings per share. Scholastic’s revenue for the quarter was down 4.0% compared to the same quarter last year. research analysts predict that Scholastic will post 1.27 earnings per share for the current fiscal year.

In other Scholastic news, insider Alan J. Boyko sold 2,673 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $42.05, for a total transaction of $112,399.65. Following the sale, the insider now directly owns 39,548 shares in the company, valued at $1,662,993.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alan J. Boyko sold 7,327 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $42.00, for a total transaction of $307,734.00. Following the sale, the insider now owns 43,557 shares in the company, valued at $1,829,394. The disclosure for this sale can be found here. Insiders sold 29,100 shares of company stock worth $1,194,038 in the last ninety days. 22.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Neuberger Berman Group LLC increased its stake in Scholastic by 28.3% during the third quarter. Neuberger Berman Group LLC now owns 489,971 shares of the company’s stock worth $18,227,000 after purchasing an additional 108,156 shares during the period. Magnetar Financial LLC increased its stake in Scholastic by 240.3% during the third quarter. Magnetar Financial LLC now owns 34,689 shares of the company’s stock worth $1,290,000 after purchasing an additional 24,496 shares during the period. Zuckerman Investment Group LLC increased its stake in Scholastic by 6.9% during the third quarter. Zuckerman Investment Group LLC now owns 631,913 shares of the company’s stock worth $23,507,000 after purchasing an additional 41,037 shares during the period. Royce & Associates LP increased its stake in Scholastic by 3.0% during the third quarter. Royce & Associates LP now owns 2,218,324 shares of the company’s stock worth $82,522,000 after purchasing an additional 64,324 shares during the period. Finally, OxFORD Asset Management LLP purchased a new stake in Scholastic during the third quarter worth about $3,841,000. Institutional investors own 79.76% of the company’s stock.

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About Scholastic

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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