Scholastic (NASDAQ:SCHL) Shares Down 3.5% – Here’s What Happened

Scholastic Co. (NASDAQ:SCHL)’s share price fell 3.5% during mid-day trading on Wednesday . The stock traded as low as $18.42 and last traded at $18.38. 60,880 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 228,425 shares. The stock had previously closed at $19.06.

Scholastic Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.24 and a quick ratio of 0.81. The firm’s 50 day moving average price is $20.05 and its 200-day moving average price is $24.14. The firm has a market cap of $591.02 million, a price-to-earnings ratio of -119.32 and a beta of 1.10.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.73. Scholastic had a negative net margin of 0.27% and a positive return on equity of 1.91%. The firm had revenue of $335.40 million for the quarter, compared to the consensus estimate of $347.68 million. On average, analysts anticipate that Scholastic Co. will post 0.84 earnings per share for the current year.

Scholastic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.80%. Scholastic’s dividend payout ratio is currently -444.44%.

Institutional Investors Weigh In On Scholastic

Several large investors have recently made changes to their positions in SCHL. J. Goldman & Co LP bought a new stake in shares of Scholastic in the 4th quarter worth about $18,892,000. JPMorgan Chase & Co. grew its holdings in shares of Scholastic by 248.8% in the 4th quarter. JPMorgan Chase & Co. now owns 293,754 shares of the company’s stock worth $6,266,000 after purchasing an additional 209,524 shares during the last quarter. Azarias Capital Management L.P. grew its holdings in shares of Scholastic by 71.8% in the 4th quarter. Azarias Capital Management L.P. now owns 467,783 shares of the company’s stock worth $9,978,000 after purchasing an additional 195,507 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Scholastic by 81.7% in the 4th quarter. Invesco Ltd. now owns 317,975 shares of the company’s stock worth $6,782,000 after purchasing an additional 142,954 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in Scholastic by 24.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 434,357 shares of the company’s stock worth $9,265,000 after buying an additional 85,882 shares in the last quarter. 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.