Scholastic (NASDAQ:SCHL) EVP Sells 289,624 Shares

Key Points

• Scholastic EVP Iole Lucchese sold 289,624 shares at an average price of $39.76, generating approximately $11.52 million and reducing the executive’s holdings by 50%.
• Scholastic shares fell 2.1% to $39.11 during Thursday trading. The company recently exceeded quarterly EPS expectations, reporting $2.19 versus the $2.16 consensus, but revenue of $476.1 million trailed estimates.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $42; institutional investors own 82.57% of the company.

Scholastic Corporation (NASDAQ:SCHL - Get Free Report) EVP Iole Lucchese sold 289,624 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $39.76, for a total value of $11,515,450.24. Following the transaction, the executive vice president owned 289,623 shares of the company's stock, valued at approximately $11,515,410.48. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Scholastic Trading Down 2.1%

Scholastic stock traded down $0.84 during mid-day trading on Thursday, reaching $39.11. 216,268 shares of the company traded hands, compared to its average volume of 445,203. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.23 and a quick ratio of 0.78. Scholastic Corporation has a 52-week low of $22.68 and a 52-week high of $48.07. The firm has a market capitalization of $737.61 million, a price-to-earnings ratio of 16.71, a P/E/G ratio of 1.97 and a beta of 1.01. The firm's 50 day moving average price is $43.49 and its 200 day moving average price is $40.12.

Scholastic (NASDAQ:SCHL - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $2.19 EPS for the quarter, topping the consensus estimate of $2.16 by $0.03. Scholastic had a net margin of 3.58% and a return on equity of 5.29%. The firm had revenue of $476.10 million during the quarter, compared to analysts' expectations of $517.06 million. During the same period last year, the company posted $0.59 EPS. On average, analysts anticipate that Scholastic Corporation will post 1.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SCHL. AQR Capital Management LLC increased its holdings in shares of Scholastic by 160.5% during the first quarter. AQR Capital Management LLC now owns 157,436 shares of the company's stock valued at $2,972,000 after acquiring an additional 96,998 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Scholastic by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,851 shares of the company's stock worth $262,000 after buying an additional 630 shares during the last quarter. Empowered Funds LLC raised its holdings in Scholastic by 4.2% in the first quarter. Empowered Funds LLC now owns 164,178 shares of the company's stock worth $3,100,000 after buying an additional 6,628 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Scholastic by 457.8% in the first quarter. Jane Street Group LLC now owns 81,390 shares of the company's stock worth $1,537,000 after buying an additional 66,798 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Scholastic by 16.8% in the second quarter. Russell Investments Group Ltd. now owns 23,440 shares of the company's stock worth $492,000 after buying an additional 3,365 shares in the last quarter. Hedge funds and other institutional investors own 82.57% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SCHL. Weiss Ratings cut Scholastic from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 28th. Zacks Research downgraded shares of Scholastic from a "hold" rating to a "strong sell" rating in a research report on Monday, July 27th. Finally, B. Riley Financial increased their price target on shares of Scholastic from $40.00 to $42.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $42.00.

Scholastic Company 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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