EVR Research LP Boosts Position in Scholastic Corporation $SCHL

EVR Research LP increased its holdings in shares of Scholastic Corporation (NASDAQ:SCHL) by 10.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 210,000 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Scholastic makes up approximately 3.4% of EVR Research LP’s portfolio, making the stock its 12th biggest position. EVR Research LP owned approximately 0.83% of Scholastic worth $6,222,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in Scholastic by 458.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,159 shares of the company’s stock worth $66,000 after purchasing an additional 2,593 shares during the last quarter. GAMMA Investing LLC lifted its stake in Scholastic by 29.5% in the fourth quarter. GAMMA Investing LLC now owns 3,289 shares of the company’s stock valued at $97,000 after buying an additional 749 shares during the last quarter. Marquette Asset Management LLC purchased a new stake in Scholastic in the fourth quarter valued at approximately $116,000. BNP Paribas Financial Markets lifted its stake in Scholastic by 127.4% in the third quarter. BNP Paribas Financial Markets now owns 5,197 shares of the company’s stock valued at $142,000 after buying an additional 2,912 shares during the last quarter. Finally, Yousif Capital Management LLC purchased a new stake in Scholastic in the fourth quarter valued at approximately $181,000. Hedge funds and other institutional investors own 82.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Zacks Research cut Scholastic from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. B. Riley Financial boosted their price objective on Scholastic from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, March 20th. Finally, Wall Street Zen cut Scholastic from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $40.00.

Scholastic Trading Up 0.9%

NASDAQ:SCHL opened at $42.75 on Thursday. The firm has a market cap of $929.39 million, a P/E ratio of 17.24 and a beta of 1.02. The stock’s 50 day simple moving average is $40.75 and its 200-day simple moving average is $35.86. Scholastic Corporation has a 12-month low of $18.70 and a 12-month high of $44.54.

Scholastic (NASDAQ:SCHL) last released its earnings results on Thursday, March 19th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.22. The business had revenue of $329.10 million for the quarter, compared to analyst estimates of $331.53 million. Scholastic had a return on equity of 2.47% and a net margin of 3.88%. Research analysts forecast that Scholastic Corporation will post 1.82 EPS for the current fiscal year.

Scholastic declared that its board has initiated a share buyback plan on Friday, March 20th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 23% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Scholastic Company Profile

Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children’s publishing, education technology and distribution services. The company’s core business encompasses three primary segments: Children’s Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children’s books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.