Scholastic Corporation (NASDAQ:SCHL) has been the object of insider selling activity recently. CEO Richard Robinson let go of 3,862 shares at an average price of $43.00 on June 8th. Robinson now owns $186,981,028 of stock as recorded in a recent Form 4 SEC filing. Richard Robinson, CEO sold $2,926,419 worth of shares at a price of $43.04 on Fri the 2nd. The CEO now owns $187,154,964 of the stock as reported to the SEC.
Richard Robinson, CEO disclosed the sale of 53,145 shares of SCHL stock. The shares were sold on May 8th for a price of $43.08. Robinson now owns $187,328,900 of the stock per the Form 4 SEC filing.
Scholastic Corporation (Scholastic), launched on October 22, 1986, is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International. The Business’s Children’s Book Publishing and Distribution segment operates as an integrated business, which includes the publication and distribution of children’s books, e-books, media and interactive products in the United States through its book clubs and book fairs in its school channels and through the trade channel. The Business’s Education segment includes the publication and distribution to schools and libraries of children’s books, classroom magazines, supplemental classroom materials, and print and online reference and non-fiction products for grades pre-K to 12 in the United States. The Business’s International segment includes the publication and distribution of products and services outside the United States by its international operations, and its export and foreign rights businesses..
These firms have also modified their investment in SCHL. As of the end of the quarter Goldman Sachs Group Inc had bought 824 shares growing its holdings by 15.0%. The value of the investment in Scholastic Corporation went from $261,000 to $269,000 a change of 3.1% for the reporting period. As of quarter end Bragg Financial Advisors, Inc had acquired a total of 175 shares growing its stake by 0.2%. The value of the company’s investment in Scholastic Corporation decreased from $3,688,000 to $3,313,000 decreasing 10.2% since the last quarter.
As of the end of the quarter Price T Rowe Associates Inc /md/ had sold a total of 254,912 shares trimming its position 7.7%. The value of the total investment in Scholastic Corporation decreased from $157,870,000 to $130,663,000 a change of $27,207,000 quarter over quarter. State Street Corp grew its stake by buying 21,560 shares an increase of 3.3% in the quarter. State Street Corp claims 676,451 shares with a value of $28,798,000. The value of the position overall is down by 7.4%.
Equity analyst Oppenheimer began coverage with a rating of “Outperform” and a price target of $50.00. On October 12 analysts at Oppenheimer initiated coverage on SCHL with an initial rating of “Outperform”.
On April 27 the company was upgraded from “Hold” to “Buy” by Gabelli. On April 24, 2015 the stock rating was set at “Hold” according to a Gabelli & Co report which was a cut from the previous “Buy” rating.
On April 22 the company was changed to a “Hold” by Gabelli a cut from the previous “Buy” rating.
The company is trading up by 0.76 percent from yesterday’s close. The company announced a dividend for shareholders which will be paid on Thursday the 15th of June 2017. The dividend payment will be $0.150 per share for the quarter which comes to $0.60 on an annualized basis. The dividend yield will be $1.35. The ex-dividend date will be Wednesday the 26th of April 2017.
The stock is trading at $44.86 a tad above $42.77, the 50 day moving average and barely above the 200 day moving average of $44.69. The 50 day moving average went up by +4.90% and the 200 day average moved up $0.17.
Scholastic Corporation’s P/E ratio is 33.81 and market capitalization is 1.56B. Short traders are feeling a little more bullish on shares of the company lately as indicated by the change in short interest. The firm had a fall in short interest between May 15, 2017 and May 31, 2017 of -9.40%. Short interest fell 97,777 over that timeframe. The short-interest ratio increased to 10.5 and the short interest percentage is 0.03% as of May 31.