Scholastic (NASDAQ:SCHL) Share Price Crosses Above 50-Day Moving Average – Should You Sell?

Scholastic Corporation (NASDAQ:SCHL) shares crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $37.11 and traded as high as $37.49. Scholastic shares last traded at $37.20, with a volume of 188,701 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SCHL shares. Weiss Ratings cut shares of Scholastic from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Monday, September 28th. Zacks Research raised shares of Scholastic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 22nd. B. Riley Financial lowered their target price on shares of Scholastic from $42.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, September 28th. Finally, Wall Street Zen upgraded Scholastic from a “sell” rating to a “hold” rating in a report on Sunday, October 18th. Three analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.00.

Scholastic Stock Performance

The stock has a market cap of $701.59 million, a PE ratio of 26.57, a P/E/G ratio of 2.10 and a beta of 1.08. The company has a current ratio of 1.25, a quick ratio of 0.71 and a debt-to-equity ratio of 0.27. The business’s 50-day moving average price is $37.11 and its 200-day moving average price is $39.03.

Scholastic (NASDAQ:SCHL) last posted its earnings results on Thursday, September 24th. The company reported ($3.63) earnings per share for the quarter, missing the consensus estimate of ($3.42) by ($0.21). Scholastic had a net margin of 3.60% and a return on equity of 5.00%. The company had revenue of $216.80 million during the quarter, compared to analyst estimates of $224.69 million. As a group, equities research analysts expect that Scholastic Corporation will post 1.41 earnings per share for the current fiscal year.

Scholastic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, October 30th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 30th. Scholastic’s payout ratio is currently 71.43%.

Insider Activity at Scholastic

In related news, EVP Iole Lucchese sold 289,624 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $39.76, for a total value of $11,515,450.24. Following the sale, the executive vice president directly owned 289,623 shares of the company’s stock, valued at approximately $11,515,410.48. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andres A. Alonso sold 2,112 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $40.28, for a total value of $85,071.36. Following the completion of the transaction, the director owned 21,189 shares in the company, valued at $853,492.92. The trade was a 9.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 12.77% of the stock is owned by insiders.

Institutional Trading of Scholastic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in shares of Scholastic by 2.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 13,685 shares of the company’s stock valued at $481,000 after acquiring an additional 362 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Scholastic by 3.2% in the 1st quarter. Quantinno Capital Management LP now owns 23,186 shares of the company’s stock worth $906,000 after buying an additional 729 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Scholastic in the second quarter valued at approximately $43,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Scholastic by 3.7% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 30,947 shares of the company’s stock worth $1,088,000 after buying an additional 1,100 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Scholastic by 51.1% during the third quarter. Signaturefd LLC now owns 3,590 shares of the company’s stock worth $126,000 after acquiring an additional 1,214 shares during the period. 82.57% of the stock is owned by hedge funds and other institutional investors.

Scholastic Company Profile

Scholastic Corporation (NASDAQ:SCHL) is a global children’s publishing, education and media company. It develops and distributes books, digital content, classroom magazines, educational technology and other learning materials for children, educators and families.

The company publishes fiction and nonfiction for children and young adults through trade imprints and recognizable series and brands, including Harry Potter, Clifford the Big Red Dog, Goosebumps, Captain Underpants and The Hunger Games.