EVR Research LP Acquires 70,270 Shares of Scholastic Corporation $SCHL

EVR Research LP increased its holdings in shares of Scholastic Corporation (NASDAQ:SCHL) by 58.7% in the third quarter, Holdings Channel reports. The firm owned 190,000 shares of the company’s stock after buying an additional 70,270 shares during the period. Scholastic comprises 3.1% of EVR Research LP’s investment portfolio, making the stock its 9th largest holding. EVR Research LP’s holdings in Scholastic were worth $5,202,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its stake in shares of Scholastic by 79.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 102,140 shares of the company’s stock valued at $2,797,000 after acquiring an additional 45,177 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Scholastic by 127.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,197 shares of the company’s stock worth $142,000 after purchasing an additional 2,912 shares during the period. Mackenzie Financial Corp acquired a new stake in Scholastic in the 3rd quarter valued at approximately $237,000. FourThought Financial Partners LLC purchased a new stake in Scholastic in the third quarter valued at approximately $357,000. Finally, Russell Investments Group Ltd. raised its position in Scholastic by 16.2% in the third quarter. Russell Investments Group Ltd. now owns 27,231 shares of the company’s stock valued at $746,000 after purchasing an additional 3,791 shares during the period. Institutional investors and hedge funds own 82.57% of the company’s stock.

Analyst Upgrades and Downgrades

SCHL has been the subject of several research analyst reports. Zacks Research lowered Scholastic from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Weiss Ratings raised Scholastic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 30th. Finally, B. Riley Financial restated a “neutral” rating and set a $37.00 target price on shares of Scholastic in a report on Monday. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Scholastic currently has an average rating of “Hold” and a consensus target price of $37.00.

Scholastic Stock Down 1.6%

Shares of NASDAQ SCHL opened at $33.52 on Friday. The stock has a market cap of $852.75 million, a P/E ratio of -167.60 and a beta of 1.17. The business’s fifty day simple moving average is $33.94 and its 200-day simple moving average is $30.07. Scholastic Corporation has a 12-month low of $15.77 and a 12-month high of $36.24. The company has a current ratio of 1.67, a quick ratio of 1.24 and a debt-to-equity ratio of 0.30.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, December 18th. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.10. The company had revenue of $551.10 million for the quarter, compared to the consensus estimate of $556.72 million. Scholastic had a positive return on equity of 2.66% and a negative net margin of 0.21%.During the same quarter in the prior year, the business earned $1.82 EPS. As a group, equities analysts predict that Scholastic Corporation will post 0.84 EPS for the current fiscal year.

Scholastic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, January 30th. Scholastic’s payout ratio is -400.00%.

About Scholastic

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.