Scholastic Co. (NASDAQ:SCHL) Short Interest Update

Scholastic Co. (NASDAQ:SCHL) was the recipient of a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 659,900 shares, a growth of 43.2% from the July 31st total of 460,700 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 185,200 shares, the short-interest ratio is presently 3.6 days.

Scholastic Stock Performance

Shares of SCHL stock traded up $0.30 during mid-day trading on Thursday, hitting $31.90. The company’s stock had a trading volume of 20,262 shares, compared to its average volume of 205,718. The stock has a market cap of $912.34 million, a price-to-earnings ratio of 21.91 and a beta of 1.02. Scholastic has a 52-week low of $28.47 and a 52-week high of $44.26. The business has a 50-day moving average price of $32.75 and a 200 day moving average price of $35.40.

Scholastic (NASDAQ:SCHL) last issued its earnings results on Thursday, July 18th. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.93). The business had revenue of $474.90 million during the quarter, compared to analysts’ expectations of $552.50 million. Scholastic had a return on equity of 3.34% and a net margin of 0.76%. Equities research analysts predict that Scholastic will post 1.52 EPS for the current fiscal year.

Scholastic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.80 annualized dividend and a yield of 2.51%. Scholastic’s payout ratio is 55.17%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Scholastic from a “hold” rating to a “buy” rating in a research note on Tuesday.

Insider Activity

In related news, EVP Iole Lucchese bought 1,654 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average cost of $30.49 per share, with a total value of $50,430.46. Following the transaction, the executive vice president now owns 74,264 shares in the company, valued at approximately $2,264,309.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Scholastic news, CEO Warwick Peter purchased 1,674 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was bought at an average cost of $30.46 per share, with a total value of $50,990.04. Following the transaction, the chief executive officer now directly owns 104,349 shares in the company, valued at approximately $3,178,470.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Iole Lucchese acquired 1,654 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price of $30.49 per share, for a total transaction of $50,430.46. Following the acquisition, the executive vice president now owns 74,264 shares of the company’s stock, valued at approximately $2,264,309.36. The disclosure for this purchase can be found here. Insiders own 18.62% of the company’s stock.

Institutional Investors Weigh In On Scholastic

A number of large investors have recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in Scholastic by 18.1% during the second quarter. Pacer Advisors Inc. now owns 1,120,491 shares of the company’s stock valued at $39,744,000 after purchasing an additional 171,775 shares in the last quarter. Azarias Capital Management L.P. raised its holdings in Scholastic by 32.7% during the second quarter. Azarias Capital Management L.P. now owns 264,565 shares of the company’s stock valued at $9,384,000 after acquiring an additional 65,120 shares during the period. American Century Companies Inc. lifted its position in shares of Scholastic by 13.2% in the second quarter. American Century Companies Inc. now owns 488,259 shares of the company’s stock valued at $17,319,000 after acquiring an additional 56,835 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Scholastic by 45.0% in the second quarter. Millennium Management LLC now owns 182,630 shares of the company’s stock worth $6,478,000 after acquiring an additional 56,647 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Scholastic during the 2nd quarter valued at approximately $1,936,000. 82.57% of the stock is currently owned by institutional investors.

Scholastic Company Profile

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.