Short Interest in Scholastic Corp (SCHL) Grows By 26.6%
Scholastic Corp (NASDAQ:SCHL) was the recipient of a large growth in short interest in the month of December. As of December 29th, there was short interest totalling 1,564,969 shares, a growth of 26.6% from the December 15th total of 1,236,404 shares. Approximately 5.3% of the shares of the stock are short sold. Based on an average trading volume of 152,724 shares, the short-interest ratio is currently 10.2 days.
Shares of Scholastic (SCHL) opened at $39.12 on Friday. Scholastic has a 12-month low of $33.51 and a 12-month high of $46.98. The company has a market capitalization of $1,358.15, a PE ratio of 86.93 and a beta of 0.78.
Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, December 14th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.17. Scholastic had a return on equity of 3.41% and a net margin of 1.07%. The company had revenue of $598.30 million for the quarter, compared to analysts’ expectations of $601.40 million. During the same period in the previous year, the firm posted $1.92 EPS. Scholastic’s revenue was down 4.0% compared to the same quarter last year. research analysts forecast that Scholastic will post 1.27 EPS for the current year.
SCHL has been the topic of a number of analyst reports. BidaskClub upgraded Scholastic from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Zacks Investment Research cut Scholastic from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. TheStreet upgraded Scholastic from a “c” rating to a “b-” rating in a research report on Thursday, December 14th. Finally, Stifel Nicolaus raised their target price on Scholastic from $38.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, December 13th.
In other news, CEO Richard Robinson sold 3,500 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $40.33, for a total transaction of $141,155.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alan J. Boyko sold 7,327 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $42.00, for a total value 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 have sold a total of 26,600 shares of company stock worth $1,095,638 over the last 90 days. Insiders own 22.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Federated Investors Inc. PA acquired a new stake in Scholastic in the 2nd quarter worth about $111,000. Quantbot Technologies LP acquired a new stake in Scholastic in the 3rd quarter worth about $141,000. Public Employees Retirement System of Ohio boosted its holdings in Scholastic by 5.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,818 shares of the company’s stock worth $166,000 after buying an additional 193 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Scholastic in the 2nd quarter worth about $211,000. Finally, Bessemer Group Inc. boosted its holdings in Scholastic by 33.4% in the 3rd quarter. Bessemer Group Inc. now owns 5,995 shares of the company’s stock worth $223,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 79.63% of the company’s stock.
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Scholastic Company Profile
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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