Scholastic Corporation $SCHL Shares Sold by Tidal Investments LLC

Tidal Investments LLC trimmed its stake in Scholastic Corporation (NASDAQ:SCHL) by 35.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 62,074 shares of the company’s stock after selling 34,375 shares during the period. Tidal Investments LLC’s holdings in Scholastic were worth $2,855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Scholastic in the second quarter valued at $120,724,000. Brandes Investment Partners LP grew its holdings in shares of Scholastic by 6.6% during the fourth quarter. Brandes Investment Partners LP now owns 279,686 shares of the company’s stock worth $8,287,000 after purchasing an additional 17,407 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Scholastic by 4.2% during the first quarter. Bank of New York Mellon Corp now owns 266,082 shares of the company’s stock worth $10,393,000 after purchasing an additional 10,636 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Scholastic during the second quarter worth about $11,662,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of Scholastic during the fourth quarter worth about $7,070,000. 82.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kaya Henderson sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $40.25, for a total transaction of $130,812.50. Following the transaction, the director owned 7,113 shares of the company’s stock, valued at $286,298.25. This trade represents a 31.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Iole Lucchese sold 289,624 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $39.76, for a total value of $11,515,450.24. Following the completion of the transaction, the executive vice president owned 289,623 shares in the company, valued at $11,515,410.48. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 294,986 shares of company stock valued at $11,731,334 over the last quarter. 12.77% of the stock is currently owned by insiders.

Scholastic Stock Down 0.7%

Shares of NASDAQ:SCHL opened at $35.05 on Wednesday. The stock has a market cap of $661.04 million, a P/E ratio of 14.98, a P/E/G ratio of 1.69 and a beta of 1.01. The firm has a fifty day moving average price of $41.25 and a 200 day moving average price of $40.44. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.23 and a quick ratio of 0.78. Scholastic Corporation has a 1-year low of $22.68 and a 1-year high of $48.07.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.03. Scholastic had a net margin of 3.58% and a return on equity of 5.29%. The company had revenue of $476.10 million for the quarter, compared to analyst estimates of $517.06 million. During the same period in the previous year, the business posted $0.59 earnings per share. Sell-side analysts predict that Scholastic Corporation will post 1.61 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About Scholastic

Scholastic Corporation is a global children’s publishing, education and media company. Founded in 1920 by M. R. Robinson, the company develops and distributes books, classroom materials, digital learning resources and educational media for children, families, teachers and schools.

Its publishing portfolio includes original and licensed children’s books, series and educational titles, while its education business provides classroom magazines, supplemental curriculum materials, professional learning resources and digital platforms.