EVR Research LP grew its stake in Scholastic Corporation (NASDAQ:SCHL – Free Report) by 10.5% during the fourth quarter, HoldingsChannel reports. The firm owned 210,000 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Scholastic comprises approximately 3.4% of EVR Research LP’s portfolio, making the stock its 12th biggest holding. EVR Research LP’s holdings in Scholastic were worth $6,222,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Scholastic by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 1,593,981 shares of the company’s stock valued at $47,230,000 after purchasing an additional 59,017 shares during the period. Alliancebernstein L.P. grew its holdings in Scholastic by 879.3% during the third quarter. Alliancebernstein L.P. now owns 1,159,261 shares of the company’s stock worth $31,741,000 after acquiring an additional 1,040,880 shares during the period. J. Goldman & Co LP grew its holdings in Scholastic by 4.1% during the fourth quarter. J. Goldman & Co LP now owns 797,878 shares of the company’s stock worth $23,641,000 after acquiring an additional 31,427 shares during the period. American Century Companies Inc. grew its holdings in Scholastic by 6.4% during the third quarter. American Century Companies Inc. now owns 739,366 shares of the company’s stock worth $20,244,000 after acquiring an additional 44,558 shares during the period. Finally, Bragg Financial Advisors Inc grew its holdings in Scholastic by 13.0% during the fourth quarter. Bragg Financial Advisors Inc now owns 668,904 shares of the company’s stock worth $19,820,000 after acquiring an additional 76,801 shares during the period. Institutional investors and hedge funds own 82.57% of the company’s stock.
Scholastic Price Performance
Shares of SCHL stock opened at $42.75 on Thursday. The business’s fifty day moving average price is $40.75 and its 200 day moving average price is $35.86. Scholastic Corporation has a 1-year low of $18.70 and a 1-year high of $44.54. The firm has a market capitalization of $929.39 million, a PE ratio of 17.24 and a beta of 1.02.
Scholastic announced that its board has authorized a stock buyback plan on Friday, March 20th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 23% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Zacks Research lowered Scholastic from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. B. Riley Financial upped their price objective on Scholastic from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, March 20th. Finally, Wall Street Zen lowered Scholastic from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.00.
Get Our Latest Report on Scholastic
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.
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