Ieq Capital LLC Purchases New Position in Scholastic Corporation $SCHL

Ieq Capital LLC purchased a new stake in Scholastic Corporation (NASDAQ:SCHL) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 35,286 shares of the company’s stock, valued at approximately $1,623,000.

Several other hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in shares of Scholastic by 160.5% in the 1st quarter. AQR Capital Management LLC now owns 157,436 shares of the company’s stock valued at $2,972,000 after purchasing an additional 96,998 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Scholastic by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,851 shares of the company’s stock worth $262,000 after purchasing an additional 630 shares in the last quarter. Empowered Funds LLC increased its position in shares of Scholastic by 4.2% during the 1st quarter. Empowered Funds LLC now owns 164,178 shares of the company’s stock worth $3,100,000 after purchasing an additional 6,628 shares in the last quarter. Jane Street Group LLC lifted its holdings in Scholastic by 457.8% during the 1st quarter. Jane Street Group LLC now owns 81,390 shares of the company’s stock valued at $1,537,000 after purchasing an additional 66,798 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Scholastic by 16.8% in the second quarter. Russell Investments Group Ltd. now owns 23,440 shares of the company’s stock valued at $492,000 after buying an additional 3,365 shares in the last quarter. 82.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SCHL shares. Weiss Ratings cut shares of Scholastic from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. B. Riley Financial boosted their target price on Scholastic from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Finally, Zacks Research lowered Scholastic from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $42.00.

Insider Buying and Selling at Scholastic

In related news, Director Kaya Henderson sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $40.25, for a total value of $130,812.50. Following the completion of the transaction, the director owned 7,113 shares in the company, valued at $286,298.25. The trade was a 31.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.77% of the stock is currently owned by corporate insiders.

Scholastic Stock Up 1.7%

Shares of NASDAQ SCHL opened at $40.99 on Wednesday. The firm’s 50-day simple moving average is $43.55 and its 200 day simple moving average is $40.08. The company has a market cap of $773.07 million, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.94 and a beta of 1.01. The company has a quick ratio of 0.78, a current ratio of 1.23 and a debt-to-equity ratio of 0.10. 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 data 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 analysts’ expectations of $517.06 million. During the same quarter last year, the company posted $0.59 EPS. On average, research analysts expect that Scholastic Corporation will post 1.6 earnings per share for the current fiscal year.

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.