CI Investments Inc. bought a new position in shares of Scholastic Corp (NASDAQ:SCHL) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 36,800 shares of the company’s stock, valued at approximately $1,718,000. CI Investments Inc. owned approximately 0.10% of Scholastic as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. increased its position in shares of Scholastic by 216.7% during the third quarter. Meeder Asset Management Inc. now owns 2,277 shares of the company’s stock worth $106,000 after purchasing an additional 1,558 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Scholastic by 16,250.0% during the second quarter. Rehmann Capital Advisory Group now owns 3,924 shares of the company’s stock worth $174,000 after buying an additional 3,900 shares during the last quarter. Highland Capital Management LP purchased a new position in shares of Scholastic during the second quarter worth about $222,000. Allianz Asset Management GmbH purchased a new position in shares of Scholastic during the first quarter worth about $210,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Scholastic during the second quarter worth about $257,000. Institutional investors and hedge funds own 81.26% of the company’s stock.
In other Scholastic news, CEO Richard Robinson sold 2,000 shares of Scholastic stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $45.76, for a total value of $91,520.00. Following the sale, the chief executive officer now owns 4,377,480 shares of the company’s stock, valued at approximately $200,313,484.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan J. Boyko sold 12,953 shares of Scholastic stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $45.07, for a total value of $583,791.71. Following the completion of the sale, the insider now directly owns 55,545 shares in the company, valued at approximately $2,503,413.15. The disclosure for this sale can be found here. Insiders sold a total of 24,294 shares of company stock worth $1,095,821 in the last ninety days. 22.30% of the stock is owned by corporate insiders.
NASDAQ SCHL opened at $44.80 on Friday. Scholastic Corp has a 52-week low of $33.85 and a 52-week high of $47.94. The stock has a market cap of $1.58 billion, a P/E ratio of 31.33 and a beta of 0.74.
Scholastic (NASDAQ:SCHL) last released its quarterly earnings results on Thursday, September 27th. The company reported ($1.74) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.93) by $0.19. Scholastic had a positive return on equity of 3.82% and a negative net margin of 0.16%. The firm had revenue of $218.40 million for the quarter, compared to analyst estimates of $198.70 million. During the same quarter last year, the company posted $1.31 earnings per share. The business’s revenue was up 15.4% on a year-over-year basis. As a group, analysts expect that Scholastic Corp will post 1.5 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Wednesday, October 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Tuesday, October 30th. Scholastic’s dividend payout ratio is presently 41.96%.
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Scholastic Company Profile
Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment publishes and distributes children's books, e-books, media, and interactive products through its school book club and school book fair channels, as well as through its trade channel.
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