Scholastic Corp (NASDAQ:SCHL) Sees Large Increase in Short Interest

Scholastic Corp (NASDAQ:SCHL) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,069,200 shares, an increase of 9.3% from the June 30th total of 978,100 shares. Currently, 3.6% of the shares of the company are sold short. Based on an average trading volume of 168,000 shares, the short-interest ratio is currently 6.4 days.

A number of institutional investors and hedge funds have recently made changes to their positions in SCHL. Macquarie Group Ltd. acquired a new stake in Scholastic during the 4th quarter worth about $28,000. Investors Research Corp acquired a new stake in Scholastic during the 1st quarter worth about $48,000. Tower Research Capital LLC TRC grew its position in Scholastic by 764.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,522 shares of the company’s stock worth $51,000 after purchasing an additional 1,346 shares during the period. Pathstone Family Office LLC grew its position in Scholastic by 6,457.4% during the 2nd quarter. Pathstone Family Office LLC now owns 4,000 shares of the company’s stock worth $133,000 after purchasing an additional 3,939 shares during the period. Finally, Jefferies Group LLC acquired a new stake in Scholastic during the 2nd quarter worth about $229,000. 81.37% of the stock is currently owned by institutional investors.

Shares of NASDAQ SCHL traded up $0.01 during mid-day trading on Thursday, hitting $33.02. The stock had a trading volume of 95,410 shares, compared to its average volume of 138,178. The company has a 50 day moving average of $33.42 and a two-hundred day moving average of $37.58. Scholastic has a twelve month low of $31.38 and a twelve month high of $47.94. The firm has a market cap of $1.16 billion, a PE ratio of 30.57 and a beta of 0.84.

Scholastic (NASDAQ:SCHL) last released its earnings results on Thursday, July 25th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.29. Scholastic had a return on equity of 3.49% and a net margin of 0.94%. The firm had revenue of $470.70 million for the quarter, compared to the consensus estimate of $456.80 million. During the same period in the prior year, the firm earned $1.45 EPS. The firm’s revenue was down 5.1% on a year-over-year basis. On average, equities research analysts expect that Scholastic will post 1.29 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Thursday, August 29th. Scholastic’s dividend payout ratio is currently 55.56%.

SCHL has been the topic of several research reports. ValuEngine downgraded Scholastic from a “hold” rating to a “sell” rating in a research report on Friday, June 14th. BidaskClub raised Scholastic from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Zacks Investment Research raised Scholastic from a “strong sell” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Scholastic currently has an average rating of “Hold” and an average price target of $41.50.

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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