Scholastic (SCHL) Stock Rating Lowered by BidaskClub
Scholastic (NASDAQ:SCHL) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.
A number of other research firms have also recently commented on SCHL. Stifel Nicolaus raised their target price on Scholastic from $43.00 to $44.00 and gave the company a “hold” rating in a research report on Friday, September 28th. Zacks Investment Research cut Scholastic from a “hold” rating to a “sell” rating in a research report on Saturday, September 15th. TheStreet cut Scholastic from a “b-” rating to a “c” rating in a research report on Monday, September 17th. UBS Group reiterated a “sell” rating on shares of Scholastic in a report on Tuesday, August 21st. Finally, ValuEngine upgraded Scholastic from a “hold” rating to a “buy” rating in a report on Saturday, September 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Scholastic currently has an average rating of “Hold” and a consensus price target of $49.00.
NASDAQ:SCHL opened at $43.63 on Friday. Scholastic has a 52 week low of $33.85 and a 52 week high of $47.94. The stock has a market cap of $1.54 billion, a PE ratio of 30.51 and a beta of 0.74.
In related news, insider Alan J. Boyko sold 12,953 shares of Scholastic stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $45.07, for a total value of $583,791.71. Following the sale, the insider now directly owns 55,545 shares in the company, valued at approximately $2,503,413.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Davies sold 6,634 shares of Scholastic stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $46.13, for a total value of $306,026.42. Following the completion of the sale, the director now owns 1,253 shares in the company, valued at $57,800.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,294 shares of company stock worth $1,095,821. 22.30% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Marshall Wace North America L.P. acquired a new stake in Scholastic in the 3rd quarter worth about $594,000. Vanguard Group Inc. boosted its holdings in Scholastic by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,495,369 shares of the company’s stock worth $116,509,000 after buying an additional 74,211 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Scholastic by 13.8% during the 3rd quarter. Legal & General Group Plc now owns 67,574 shares of the company’s stock worth $3,158,000 after purchasing an additional 8,189 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of Scholastic by 2.5% during the 3rd quarter. Teachers Advisors LLC now owns 57,631 shares of the company’s stock worth $2,691,000 after purchasing an additional 1,399 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Scholastic by 1.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 608,402 shares of the company’s stock worth $28,406,000 after purchasing an additional 8,628 shares during the last quarter. Institutional investors own 80.71% of the company’s stock.
Scholastic Company Profile
Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment publishes and distributes children's books, e-books, media, and interactive products through its school book club and school book fair channels, as well as through its trade channel.
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