Scholastic Corporation (SCHL) Short Interest Down 29.8% in September
Scholastic Corporation (NASDAQ:SCHL) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 802,692 shares, a drop of 29.8% from the August 31st total of 1,143,078 shares. Based on an average daily volume of 144,273 shares, the short-interest ratio is currently 5.6 days. Currently, 2.7% of the shares of the company are short sold.
Several hedge funds have recently made changes to their positions in SCHL. Sei Investments Co. lifted its stake in shares of Scholastic Corporation by 69.6% during the 1st quarter. Sei Investments Co. now owns 2,454 shares of the company’s stock valued at $105,000 after buying an additional 1,007 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Scholastic Corporation during the 1st quarter valued at approximately $110,000. Federated Investors Inc. PA purchased a new stake in shares of Scholastic Corporation during the 2nd quarter valued at approximately $111,000. Public Employees Retirement System of Ohio lifted its stake in shares of Scholastic Corporation by 5.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,818 shares of the company’s stock valued at $166,000 after buying an additional 193 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Scholastic Corporation by 11.5% during the 2nd quarter. Bessemer Group Inc. now owns 4,495 shares of the company’s stock valued at $196,000 after buying an additional 462 shares in the last quarter. Institutional investors own 79.21% of the company’s stock.
Scholastic Corporation (NASDAQ SCHL) traded up 1.76% on Friday, reaching $37.64. 257,318 shares of the company’s stock traded hands. The company’s 50 day moving average is $38.06 and its 200-day moving average is $41.34. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 47.71 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 released its earnings results on Thursday, September 21st. The company reported ($1.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.34) by ($0.33). The company had revenue of $189.20 million during the quarter, compared to analysts’ expectations of $208.00 million. Scholastic Corporation had a net margin of 1.71% and a return on equity of 3.57%. The firm’s revenue was down 33.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.15) earnings per share. Equities analysts expect that Scholastic Corporation will post $1.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, October 30th. Scholastic Corporation’s payout ratio is currently 77.92%.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Scholastic Corporation from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, July 21st. BidaskClub cut shares of Scholastic Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $44.00 price target on shares of Scholastic Corporation in a report on Wednesday, August 16th.
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Scholastic Corporation 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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