Scholastic (NASDAQ:SCHL) Shares Down 3.4%

Scholastic Co. (NASDAQ:SCHL)’s stock price was down 3.4% during trading on Wednesday . The stock traded as low as $28.76 and last traded at $28.92. Approximately 49,505 shares traded hands during trading, a decline of 76% from the average daily volume of 205,393 shares. The stock had previously closed at $29.95.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Scholastic from a “hold” rating to a “buy” rating in a research note on Friday, September 27th.

Scholastic Trading Down 8.4 %

The business’s 50-day simple moving average is $30.91 and its 200-day simple moving average is $34.09. The company has a market capitalization of $774.34 million, a PE ratio of 19.10 and a beta of 1.03.

Scholastic (NASDAQ:SCHL) last issued its earnings results on Thursday, September 26th. The company reported ($2.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.48) by $0.35. Scholastic had a net margin of 1.49% and a return on equity of 4.25%. The firm had revenue of $237.20 million during the quarter, compared to analysts’ expectations of $233.49 million. During the same quarter last year, the company posted ($2.20) earnings per share. Sell-side analysts forecast that Scholastic Co. will post 1.23 EPS for the current fiscal year.

Scholastic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, October 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, October 31st. Scholastic’s dividend payout ratio (DPR) is 55.17%.

Insider Activity at Scholastic

In other news, CEO Warwick Peter acquired 1,674 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average price of $30.46 per share, with a total value of $50,990.04. Following the purchase, the chief executive officer now directly owns 104,349 shares of the company’s stock, valued at $3,178,470.54. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other Scholastic news, EVP Iole Lucchese acquired 1,654 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average cost of $30.49 per share, with a total value of $50,430.46. Following the completion of the acquisition, the executive vice president now owns 74,264 shares in the company, valued at $2,264,309.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Warwick Peter bought 1,674 shares of Scholastic stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average cost of $30.46 per share, with a total value of $50,990.04. Following the completion of the purchase, the chief executive officer now owns 104,349 shares in the company, valued at $3,178,470.54. The disclosure for this purchase can be found here. 18.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Scholastic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC grew its position in shares of Scholastic by 6.4% in the second quarter. Inspire Investing LLC now owns 11,222 shares of the company’s stock valued at $398,000 after purchasing an additional 675 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Scholastic by 13.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,776 shares of the company’s stock worth $218,000 after buying an additional 697 shares during the last quarter. Bessemer Group Inc. increased its stake in Scholastic by 11.4% during the 1st quarter. Bessemer Group Inc. now owns 7,455 shares of the company’s stock worth $281,000 after buying an additional 762 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Scholastic in the second quarter valued at approximately $35,000. Finally, WINTON GROUP Ltd lifted its position in shares of Scholastic by 6.5% in the second quarter. WINTON GROUP Ltd now owns 26,137 shares of the company’s stock valued at $927,000 after acquiring an additional 1,605 shares in the last quarter. Hedge funds and other institutional investors own 82.57% of the company’s stock.

About Scholastic

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.