Scholastic (NASDAQ:SCHL) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Scholastic Corporation (NASDAQ:SCHL - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.27 and traded as high as $21.68. Scholastic shares last traded at $21.39, with a volume of 134,037 shares changing hands.

Scholastic Stock Performance

The firm has a fifty day moving average of $19.03 and a 200 day moving average of $19.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.23 and a quick ratio of 0.79. The stock has a market cap of $601.06 million, a price-to-earnings ratio of 35.65 and a beta of 1.08.

Hedge Funds Weigh In On Scholastic

Large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in Scholastic in the 4th quarter worth about $33,000. GAMMA Investing LLC lifted its holdings in shares of Scholastic by 182.4% during the first quarter. GAMMA Investing LLC now owns 1,776 shares of the company's stock worth $34,000 after buying an additional 1,147 shares during the last quarter. CWM LLC increased its position in shares of Scholastic by 508.7% during the first quarter. CWM LLC now owns 4,194 shares of the company's stock valued at $79,000 after purchasing an additional 3,505 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Scholastic during the fourth quarter valued at approximately $96,000. Finally, Sterling Capital Management LLC grew its position in Scholastic by 7.5% in the fourth quarter. Sterling Capital Management LLC now owns 9,444 shares of the company's stock valued at $201,000 after acquiring an additional 662 shares during the period. 82.57% of the stock is currently owned by institutional investors.

About Scholastic

Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education Solutions, and International. The Children's Book Publishing and Distribution segment engages in publication and distribution of children's print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.

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