Scholastic Corp (SCHL) Sees Significant Growth in Short Interest

Scholastic Corp (NASDAQ:SCHL) was the target of a large increase in short interest in December. As of December 29th, there was short interest totalling 1,564,969 shares, an increase of 26.6% from the December 15th total of 1,236,404 shares. Based on an average daily trading volume, of 152,724 shares, the short-interest ratio is currently 10.2 days. Currently, 5.3% of the shares of the stock are sold short.

Shares of Scholastic (SCHL) opened at $39.02 on Wednesday. The firm has a market capitalization of $1,365.13, a PE ratio of 86.71 and a beta of 0.78. Scholastic has a twelve month low of $33.51 and a twelve month high of $46.95.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings data on Thursday, December 14th. The company reported $1.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.17. The firm had revenue of $598.30 million during the quarter, compared to analysts’ expectations of $601.40 million. Scholastic had a return on equity of 3.41% and a net margin of 1.07%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.92 EPS. equities analysts anticipate that Scholastic will post 1.27 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, January 30th. This represents a $0.60 annualized dividend and a yield of 1.54%. Scholastic’s dividend payout ratio is currently 133.33%.

In related news, insider Alan J. Boyko sold 2,673 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $42.05, for a total transaction of $112,399.65. Following the transaction, the insider now owns 39,548 shares in the company, valued at approximately $1,662,993.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alan J. Boyko sold 13,100 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $40.79, for a total transaction of $534,349.00. Following the transaction, the insider now owns 44,146 shares in the company, valued at approximately $1,800,715.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,600 shares of company stock worth $1,095,638. 22.30% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Lazard Asset Management LLC raised its holdings in Scholastic by 9.0% during the 2nd quarter. Lazard Asset Management LLC now owns 258,119 shares of the company’s stock worth $11,251,000 after purchasing an additional 21,385 shares during the last quarter. BlackRock Inc. increased its stake in shares of Scholastic by 1.1% in the 2nd quarter. BlackRock Inc. now owns 3,380,237 shares of the company’s stock valued at $147,344,000 after acquiring an additional 35,595 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Scholastic by 10.7% in the 2nd quarter. Teachers Advisors LLC now owns 52,794 shares of the company’s stock valued at $2,301,000 after acquiring an additional 5,093 shares during the last quarter. Boston Partners increased its stake in shares of Scholastic by 2.6% in the 3rd quarter. Boston Partners now owns 413,547 shares of the company’s stock valued at $15,384,000 after acquiring an additional 10,302 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Scholastic by 6.7% in the 2nd quarter. Northern Trust Corp now owns 1,196,201 shares of the company’s stock valued at $52,143,000 after acquiring an additional 75,333 shares during the last quarter. 79.76% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on SCHL. Zacks Investment Research downgraded shares of Scholastic from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. BidaskClub raised Scholastic from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. TheStreet raised Scholastic from a “c” rating to a “b-” rating in a report on Thursday, December 14th. Finally, Stifel Nicolaus boosted their price objective on Scholastic from $38.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, December 13th.

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Scholastic 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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