Scholastic (NASDAQ:SCHL) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Scholastic (NASDAQ:SCHL – Get Rating) in a research note published on Thursday morning. The brokerage issued a buy rating on the stock.

Separately, TheStreet raised shares of Scholastic from a c rating to a b- rating in a report on Thursday, December 15th.

Scholastic Stock Down 1.3 %

NASDAQ SCHL opened at $42.18 on Thursday. The company has a market capitalization of $1.43 billion, a P/E ratio of 23.30 and a beta of 1.13. Scholastic has a 12-month low of $28.22 and a 12-month high of $48.28. The firm has a 50-day moving average price of $44.02 and a two-hundred day moving average price of $40.36.

Scholastic (NASDAQ:SCHL – Get Rating) last issued its quarterly earnings results on Thursday, December 15th. The company reported $2.12 earnings per share for the quarter. Scholastic had a net margin of 3.90% and a return on equity of 6.50%. The company had revenue of $587.90 million during the quarter.

Hedge Funds Weigh In On Scholastic

A number of institutional investors have recently added to or reduced their stakes in SCHL. Vanguard Group Inc. increased its position in Scholastic by 21.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,934,477 shares of the company’s stock worth $90,265,000 after purchasing an additional 516,720 shares in the last quarter. Norges Bank acquired a new position in Scholastic during the 4th quarter worth approximately $8,189,000. American Century Companies Inc. increased its position in Scholastic by 73.0% during the 4th quarter. American Century Companies Inc. now owns 290,418 shares of the company’s stock worth $11,460,000 after purchasing an additional 122,581 shares in the last quarter. Ancora Advisors LLC acquired a new position in Scholastic during the 4th quarter worth approximately $4,584,000. Finally, Goldman Sachs Group Inc. increased its position in Scholastic by 84.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 213,682 shares of the company’s stock valued at $7,686,000 after acquiring an additional 97,540 shares during the period. 81.48% of the stock is currently owned by institutional investors and hedge funds.

Scholastic Company Profile

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Scholastic Corp. engages in the publication and distribution of children’s books, magazines, and teaching materials. It operates through the following segments: Children’s Book Publishing and Distribution, Education, and International. The Children’s Book Publishing and Distribution segment includes the publication and distribution of children’s books, e-books, media, and interactive products.