Ionic Capital Management LLC Invests $444,000 in Scholastic Corporation $SCHL

Ionic Capital Management LLC purchased a new position in shares of Scholastic Corporation (NASDAQ:SCHL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,000 shares of the company’s stock, valued at approximately $444,000. Ionic Capital Management LLC owned approximately 0.06% of Scholastic at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SCHL. Tower Research Capital LLC TRC boosted its stake in shares of Scholastic by 458.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,159 shares of the company’s stock worth $66,000 after acquiring an additional 2,593 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Scholastic by 29.5% during the 4th quarter. GAMMA Investing LLC now owns 3,289 shares of the company’s stock worth $97,000 after acquiring an additional 749 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in shares of Scholastic during the 4th quarter worth approximately $116,000. BNP Paribas Financial Markets boosted its stake in shares of Scholastic by 127.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,197 shares of the company’s stock worth $142,000 after acquiring an additional 2,912 shares in the last quarter. Finally, Yousif Capital Management LLC purchased a new stake in shares of Scholastic during the 4th quarter worth approximately $181,000. Hedge funds and other institutional investors own 82.57% of the company’s stock.

Scholastic Stock Performance

Shares of SCHL opened at $42.75 on Thursday. The stock has a fifty day moving average of $40.75 and a two-hundred day moving average of $35.86. The company has a market capitalization of $929.39 million, a PE ratio of 17.24 and a beta of 1.02. Scholastic Corporation has a fifty-two week low of $18.70 and a fifty-two week high of $44.54.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.22. The company had revenue of $329.10 million during the quarter, compared to the consensus estimate of $331.53 million. Scholastic had a return on equity of 2.47% and a net margin of 3.88%. As a group, equities research analysts forecast that Scholastic Corporation will post 1.82 earnings per share for the current fiscal year.

Scholastic declared that its Board of Directors has authorized a stock buyback plan on Friday, March 20th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 23% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

SCHL has been the topic of several research analyst reports. Zacks Research lowered Scholastic from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Wall Street Zen downgraded Scholastic from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, B. Riley Financial lifted their price objective on Scholastic from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, March 20th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.00.

Scholastic Profile

Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children’s publishing, education technology and distribution services. The company’s core business encompasses three primary segments: Children’s Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children’s books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.