Ieq Capital LLC Takes Position in Scholastic Corporation $SCHL

Key Points

• Ieq Capital LLC acquired 35,286 Scholastic shares in the second quarter, worth approximately $1.62 million and representing about 0.19% of the company. Institutional investors and hedge funds collectively own 82.57% of SCHL.
• Analyst sentiment remains cautious: Scholastic has an average “Reduce” rating and a $42 target price, with Zacks Research downgrading the stock to “strong sell.”
• Scholastic beat quarterly EPS estimates ($2.19 versus $2.16) but missed revenue expectations, reporting $476.1 million against $517.06 million forecast; shares opened at $40.99, below the average analyst target.

Ieq Capital LLC acquired a new position in Scholastic Corporation (NASDAQ:SCHL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,286 shares of the company's stock, valued at approximately $1,623,000. Ieq Capital LLC owned about 0.19% of Scholastic at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Scholastic during the 2nd quarter worth $120,724,000. Vanguard Group Inc. grew its position in shares of Scholastic by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 1,593,981 shares of the company's stock valued at $47,230,000 after purchasing an additional 59,017 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Scholastic by 879.3% in the third quarter. Alliancebernstein L.P. now owns 1,159,261 shares of the company's stock worth $31,741,000 after purchasing an additional 1,040,880 shares during the period. J. Goldman & Co LP lifted its position in shares of Scholastic by 4.1% during the 4th quarter. J. Goldman & Co LP now owns 797,878 shares of the company's stock worth $23,641,000 after purchasing an additional 31,427 shares during the last quarter. Finally, Bragg Financial Advisors Inc lifted its position in shares of Scholastic by 13.0% during the 4th quarter. Bragg Financial Advisors Inc now owns 668,904 shares of the company's stock worth $19,820,000 after purchasing an additional 76,801 shares during the last quarter. 82.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Scholastic Trading Up 1.7%

Scholastic stock opened at $40.99 on Wednesday. The business has a 50 day moving average price of $43.55 and a two-hundred day moving average price of $40.08. The company has a quick ratio of 0.78, a current ratio of 1.23 and a debt-to-equity ratio of 0.10. The stock 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. Scholastic Corporation has a 12 month low of $22.68 and a 12 month high of $48.07.

Scholastic (NASDAQ:SCHL - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.03. The company had revenue of $476.10 million for the quarter, compared to analyst estimates of $517.06 million. Scholastic had a return on equity of 5.29% and a net margin of 3.58%.During the same quarter last year, the firm earned $0.59 EPS. As a group, equities analysts forecast that Scholastic Corporation will post 1.6 EPS for the current year.

Insider Transactions at Scholastic

In other news, Director Kaya Henderson sold 3,250 shares of the stock in a transaction 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 approximately $286,298.25. This represents a 31.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.77% of the stock is owned by company insiders.

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.

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