Short Interest in Scholastic Corporation (SCHL) Decreases By 29.8%
Scholastic Corporation (NASDAQ:SCHL) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 802,692 shares, a decrease of 29.8% from the August 31st total of 1,143,078 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average trading volume of 144,273 shares, the short-interest ratio is currently 5.6 days.
SCHL has been the topic of several recent research reports. BidaskClub upgraded Scholastic Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Zacks Investment Research raised Scholastic Corporation from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Friday, July 21st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $44.00 price objective on shares of Scholastic Corporation in a research report on Wednesday, August 16th.
Several large investors have recently bought and sold shares of the company. Nationwide Fund Advisors grew its stake in Scholastic Corporation by 133.9% in the 1st quarter. Nationwide Fund Advisors now owns 46,754 shares of the company’s stock worth $1,990,000 after acquiring an additional 26,764 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Scholastic Corporation by 1.3% during the 1st quarter. Wells Fargo & Company MN now owns 19,384 shares of the company’s stock worth $824,000 after purchasing an additional 245 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Scholastic Corporation by 8.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 38,833 shares of the company’s stock worth $1,653,000 after purchasing an additional 3,171 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of Scholastic Corporation by 14.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,024 shares of the company’s stock worth $895,000 after purchasing an additional 2,576 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Scholastic Corporation by 0.4% during the 1st quarter. First Trust Advisors LP now owns 43,333 shares of the company’s stock worth $1,845,000 after purchasing an additional 158 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.
Shares of Scholastic Corporation (SCHL) opened at 37.30 on Tuesday. The company’s 50-day moving average is $38.48 and its 200 day moving average is $41.76. The firm has a market capitalization of $1.31 billion, a PE ratio of 47.28 and a beta of 0.73. Scholastic Corporation has a 52-week low of $33.51 and a 52-week high of $49.38.
Scholastic Corporation (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, September 21st. The company reported ($1.67) EPS for the quarter, missing analysts’ consensus estimates of ($1.34) by ($0.33). Scholastic Corporation had a net margin of 1.71% and a return on equity of 3.57%. The company had revenue of $189.20 million for the quarter, compared to analyst estimates of $208.00 million. During the same period in the previous year, the business earned ($1.15) EPS. The firm’s revenue was down 33.1% on a year-over-year basis. Equities analysts expect that Scholastic Corporation will post $1.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.61%. Scholastic Corporation’s dividend payout ratio is currently 77.92%.
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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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