Insider Selling: Scholastic Corp (SCHL) CEO Sells 33,000 Shares of Stock

Scholastic Corp (NASDAQ:SCHL) CEO Richard Robinson sold 33,000 shares of the firm’s stock in a transaction on Monday, April 16th. The stock was sold at an average price of $40.31, for a total transaction of $1,330,230.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Richard Robinson also recently made the following trade(s):

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  • On Thursday, April 12th, Richard Robinson sold 83,860 shares of Scholastic stock. The stock was sold at an average price of $39.61, for a total transaction of $3,321,694.60.
  • On Monday, April 9th, Richard Robinson sold 37,077 shares of Scholastic stock. The stock was sold at an average price of $38.63, for a total transaction of $1,432,284.51.
  • On Thursday, April 5th, Richard Robinson sold 41,745 shares of Scholastic stock. The stock was sold at an average price of $38.48, for a total transaction of $1,606,347.60.
  • On Tuesday, April 3rd, Richard Robinson sold 8,769 shares of Scholastic stock. The stock was sold at an average price of $38.46, for a total transaction of $337,255.74.
  • On Thursday, March 29th, Richard Robinson sold 1,200 shares of Scholastic stock. The stock was sold at an average price of $39.23, for a total transaction of $47,076.00.

SCHL stock traded up $0.66 during midday trading on Tuesday, hitting $41.42. The company’s stock had a trading volume of 124,663 shares, compared to its average volume of 133,354. Scholastic Corp has a twelve month low of $33.51 and a twelve month high of $46.59. The firm has a market capitalization of $1,390.06, a P/E ratio of 31.76 and a beta of 0.76.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings results on Wednesday, March 21st. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.05. Scholastic had a negative net margin of 1.00% and a positive return on equity of 3.58%. The firm had revenue of $344.70 million for the quarter, compared to analyst estimates of $350.10 million. During the same period in the previous year, the business earned ($0.36) EPS. The company’s revenue was up 2.5% compared to the same quarter last year. equities analysts expect that Scholastic Corp will post 1.45 earnings per share for the current fiscal year.

Scholastic announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 21st that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Monday, April 30th will be paid a $0.15 dividend. The ex-dividend date is Friday, April 27th. This represents a $0.60 annualized dividend and a yield of 1.45%. Scholastic’s payout ratio is currently 32.79%.

A number of brokerages recently commented on SCHL. Zacks Investment Research lowered shares of Scholastic from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 5th. BidaskClub upgraded shares of Scholastic from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. Gabelli reiterated a “buy” rating on shares of Scholastic in a research note on Friday, March 23rd. Finally, TheStreet lowered shares of Scholastic from a “b-” rating to a “c” rating in a research note on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $41.00.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in Scholastic by 2.3% in the 4th quarter. BlackRock Inc. now owns 3,585,366 shares of the company’s stock valued at $143,809,000 after buying an additional 80,853 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Scholastic by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,806,160 shares of the company’s stock valued at $104,389,000 after buying an additional 19,627 shares during the last quarter. Alliancebernstein L.P. increased its stake in Scholastic by 1.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,983,802 shares of the company’s stock valued at $79,570,000 after buying an additional 37,031 shares during the last quarter. Zuckerman Investment Group LLC increased its stake in Scholastic by 2.8% in the 4th quarter. Zuckerman Investment Group LLC now owns 649,309 shares of the company’s stock valued at $26,044,000 after buying an additional 17,396 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Scholastic by 28.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 489,971 shares of the company’s stock worth $18,227,000 after purchasing an additional 108,156 shares during the last quarter. Hedge funds and other institutional investors own 83.86% of the company’s stock.

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About Scholastic

Scholastic Corporation, together with its subsidiaries, publishes and distributes children's books worldwide. It operates through three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment engages in the publication and distribution of children's books, e-books, media, and interactive products through its school book clubs and book fairs, and trade channel.

Insider Buying and Selling by Quarter for Scholastic (NASDAQ:SCHL)

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