Scholastic (NASDAQ:SCHL) EVP Iole Lucchese Sells 289,624 Shares of Stock

Scholastic Corporation (NASDAQ:SCHL) EVP Iole Lucchese sold 289,624 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $39.76, for a total transaction of $11,515,450.24. Following the transaction, the executive vice president owned 289,623 shares in the company, valued at $11,515,410.48. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Scholastic Stock Down 2.1%

Shares of NASDAQ SCHL opened at $39.11 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.23 and a debt-to-equity ratio of 0.10. The firm has a market cap of $737.61 million, a PE ratio of 16.71, a P/E/G ratio of 1.92 and a beta of 1.01. The company’s fifty day simple moving average is $43.42 and its 200 day simple moving average is $40.16. Scholastic Corporation has a 12-month low of $22.68 and a 12-month high of $48.07.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.03. Scholastic had a net margin of 3.58% and a return on equity of 5.29%. The firm had revenue of $476.10 million during the quarter, compared to the consensus estimate of $517.06 million. During the same period in the previous year, the firm posted $0.59 earnings per share. As a group, sell-side analysts forecast that Scholastic Corporation will post 1.6 earnings per share for the current fiscal year.

Institutional Trading of Scholastic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCHL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Scholastic by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,851 shares of the company’s stock valued at $262,000 after buying an additional 630 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Scholastic by 3.2% in the 1st quarter. Quantinno Capital Management LP now owns 23,186 shares of the company’s stock worth $906,000 after acquiring an additional 729 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Scholastic by 4.1% in the 4th quarter. Deutsche Bank AG now owns 20,829 shares of the company’s stock worth $617,000 after acquiring an additional 824 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Scholastic in the second quarter valued at about $43,000. Finally, Public Sector Pension Investment Board raised its holdings in shares of Scholastic by 1.9% in the second quarter. Public Sector Pension Investment Board now owns 80,195 shares of the company’s stock valued at $1,682,000 after purchasing an additional 1,509 shares during the last quarter. 82.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Weiss Ratings downgraded Scholastic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Zacks Research downgraded Scholastic from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Finally, B. Riley Financial upped their target price on Scholastic from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $42.00.

Scholastic Company 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.