BidaskClub Downgrades Scholastic (SCHL) to Strong Sell

Scholastic (NASDAQ:SCHL) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Saturday.

SCHL has been the topic of a number of other reports. Zacks Investment Research lowered Scholastic from a “hold” rating to a “sell” rating in a research note on Friday, December 15th. TheStreet raised Scholastic from a “c” rating to a “b-” rating in a research note on Thursday, December 14th. Finally, Stifel Nicolaus lifted their price target on Scholastic from $38.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, December 13th.

Shares of Scholastic (NASDAQ SCHL) opened at $39.40 on Friday. The firm has a market capitalization of $1,374.90, a PE ratio of 87.56 and a beta of 0.78. Scholastic has a 12 month low of $33.51 and a 12 month high of $46.95.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, December 14th. The company reported $1.92 EPS for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.17. Scholastic had a return on equity of 3.41% and a net margin of 1.07%. The firm had revenue of $598.30 million for the quarter, compared to analyst estimates of $601.40 million. During the same period last year, the firm posted $1.92 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. equities research analysts predict that Scholastic will post 1.27 EPS for the current fiscal year.

In other news, insider Alan J. Boyko sold 2,673 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $42.05, for a total transaction of $112,399.65. Following the completion of the transaction, the insider now directly owns 39,548 shares in the company, valued at $1,662,993.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Judith Newman sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $39.36, for a total value of $98,400.00. Following the transaction, the executive vice president now owns 17,269 shares of the company’s stock, valued at $679,707.84. The disclosure for this sale can be found here. Insiders have sold 29,100 shares of company stock worth $1,194,038 over the last three months. Insiders own 22.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Neuberger Berman Group LLC raised its position in shares of Scholastic by 28.3% during the third quarter. Neuberger Berman Group LLC now owns 489,971 shares of the company’s stock worth $18,227,000 after acquiring an additional 108,156 shares during the last quarter. Magnetar Financial LLC raised its position in shares of Scholastic by 240.3% during the third quarter. Magnetar Financial LLC now owns 34,689 shares of the company’s stock worth $1,290,000 after acquiring an additional 24,496 shares during the last quarter. Zuckerman Investment Group LLC raised its position in shares of Scholastic by 6.9% during the third quarter. Zuckerman Investment Group LLC now owns 631,913 shares of the company’s stock worth $23,507,000 after acquiring an additional 41,037 shares during the last quarter. Royce & Associates LP raised its position in shares of Scholastic by 3.0% during the third quarter. Royce & Associates LP now owns 2,218,324 shares of the company’s stock worth $82,522,000 after acquiring an additional 64,324 shares during the last quarter. Finally, OxFORD Asset Management LLP bought a new position in shares of Scholastic during the third quarter worth about $3,841,000. Institutional investors own 79.66% of the company’s stock.

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About Scholastic

Scholastic Corporation is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International.

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