Tidal Investments LLC Lowers Stock Position in Scholastic Corporation $SCHL

Key Points

• Tidal Investments cut its Scholastic stake by 35.6% in the second quarter, selling 34,375 shares and retaining 62,074 shares worth approximately $2.86 million. Institutional investors collectively own 82.57% of SCHL.
• Analyst sentiment remains cautious: Scholastic has an average rating of “Reduce” and a consensus price target of $42, while ratings range from “Hold” to “Strong Sell.”
• Scholastic reported quarterly EPS of $2.19, slightly above estimates, but revenue of $476.1 million missed expectations of $517.1 million. Insiders have sold nearly $11.7 million of stock over the past 90 days.

Tidal Investments LLC cut its stake in shares of Scholastic Corporation (NASDAQ:SCHL - Free Report) by 35.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,074 shares of the company's stock after selling 34,375 shares during the period. Tidal Investments LLC owned approximately 0.33% of Scholastic worth $2,855,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in Scholastic during the 2nd quarter worth approximately $56,000. Corient Private Wealth LP purchased a new position in Scholastic in the 2nd quarter valued at approximately $480,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Scholastic in the second quarter worth $1,373,000. iSAM Funds UK Ltd acquired a new position in shares of Scholastic in the second quarter worth $235,000. Finally, BTG Pactual Asset Management US LLC purchased a new stake in shares of Scholastic during the second quarter worth $333,000. Hedge funds and other institutional investors own 82.57% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. B. Riley Financial increased their price objective on Scholastic from $40.00 to $42.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Zacks Research cut Scholastic from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded Scholastic from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $42.00.

Insider Buying and Selling at Scholastic

In other Scholastic news, EVP Iole Lucchese sold 289,624 shares of Scholastic stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $39.76, for a total transaction of $11,515,450.24. Following the completion of the sale, the executive vice president directly owned 289,623 shares of the company's stock, valued at $11,515,410.48. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andres A. Alonso sold 2,112 shares of the company's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $40.28, for a total value of $85,071.36. Following the transaction, the director directly owned 21,189 shares of the company's stock, valued at approximately $853,492.92. This represents a 9.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 294,986 shares of company stock worth $11,731,334 over the last ninety days. Corporate insiders own 12.77% of the company's stock.

Scholastic Trading Down 0.7%

Shares of NASDAQ:SCHL opened at $35.05 on Wednesday. Scholastic Corporation has a 52 week low of $22.68 and a 52 week high of $48.07. The company's 50 day moving average is $41.25 and its two-hundred day moving average is $40.44. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The company has a market cap of $661.04 million, a PE ratio of 14.98, a P/E/G ratio of 1.69 and a beta of 1.01.

Scholastic (NASDAQ:SCHL - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.03. The business had revenue of $476.10 million during the quarter, compared to analysts' expectations of $517.06 million. Scholastic had a net margin of 3.58% and a return on equity of 5.29%. During the same period in the previous year, the company earned $0.59 EPS. Equities analysts predict that Scholastic Corporation will post 1.61 earnings per share for the current fiscal year.

Scholastic Profile

Scholastic Corporation is a global children's publishing, education and media company. Founded in 1920 by M. R. Robinson, the company develops and distributes books, classroom materials, digital learning resources and educational media for children, families, teachers and schools.

Its publishing portfolio includes original and licensed children's books, series and educational titles, while its education business provides classroom magazines, supplemental curriculum materials, professional learning resources and digital platforms.

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