Scholastic (NASDAQ:SCHL) Trading 3.9% Higher – Here’s Why

Scholastic Co. (NASDAQ:SCHL)’s stock price rose 3.9% during mid-day trading on Thursday . The company traded as high as $19.80 and last traded at $19.78. Approximately 25,538 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 240,468 shares. The stock had previously closed at $19.03.

Scholastic Price Performance

The company has a quick ratio of 0.81, a current ratio of 1.24 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $20.20 and a 200 day moving average of $24.60. The stock has a market capitalization of $560.98 million, a PE ratio of -110.47 and a beta of 1.10.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings results on Thursday, December 19th. The company reported $1.82 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.48). Scholastic had a positive return on equity of 1.91% and a negative net margin of 0.27%. Sell-side analysts predict that Scholastic Co. will post 0.84 EPS for the current year.

Institutional Investors Weigh In On Scholastic

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its position in Scholastic by 54.6% during the third quarter. Victory Capital Management Inc. now owns 11,049 shares of the company’s stock worth $354,000 after buying an additional 3,900 shares during the period. Royce & Associates LP increased its position in Scholastic by 83.9% in the 3rd quarter. Royce & Associates LP now owns 42,194 shares of the company’s stock valued at $1,351,000 after acquiring an additional 19,255 shares during the period. Empowered Funds LLC lifted its position in Scholastic by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 149,908 shares of the company’s stock worth $4,799,000 after acquiring an additional 7,638 shares during the period. Natixis Advisors LLC grew its stake in shares of Scholastic by 3.1% in the 3rd quarter. Natixis Advisors LLC now owns 16,403 shares of the company’s stock valued at $525,000 after purchasing an additional 489 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Scholastic in the third quarter valued at approximately $46,000. Hedge funds and other institutional investors own 82.57% of the company’s stock.

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.