JPMorgan Chase & Co. Sells 9,379 Shares of Scholastic Corporation (SCHL)

JPMorgan Chase & Co. decreased its position in shares of Scholastic Corporation (NASDAQ:SCHL) by 9.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,126 shares of the company’s stock after selling 9,379 shares during the period. JPMorgan Chase & Co.’s holdings in Scholastic Corporation were worth $3,624,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in shares of Scholastic Corporation by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 2,970 shares of the company’s stock worth $126,000 after buying an additional 70 shares during the period. 1st Global Advisors Inc. raised its stake in shares of Scholastic Corporation by 1.5% in the first quarter. 1st Global Advisors Inc. now owns 5,419 shares of the company’s stock worth $231,000 after buying an additional 80 shares during the period. First Trust Advisors LP raised its stake in shares of Scholastic Corporation by 0.4% in the first quarter. First Trust Advisors LP now owns 43,333 shares of the company’s stock worth $1,845,000 after buying an additional 158 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Scholastic Corporation by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the company’s stock worth $468,000 after buying an additional 200 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Scholastic Corporation by 3.2% in the first quarter. Bank of Montreal Can now owns 6,571 shares of the company’s stock worth $279,000 after buying an additional 201 shares during the period. Institutional investors own 79.46% of the company’s stock.

Shares of Scholastic Corporation (NASDAQ:SCHL) opened at 42.79 on Monday. The firm’s 50-day moving average is $43.33 and its 200 day moving average is $44.69. Scholastic Corporation has a 1-year low of $35.20 and a 1-year high of $49.38. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 32.25 and a beta of 0.75.

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A number of analysts recently issued reports on the stock. BidaskClub lowered shares of Scholastic Corporation from a “hold” rating to a “sell” rating in a research note on Saturday. Stifel Nicolaus dropped their price target on shares of Scholastic Corporation from $45.00 to $44.00 and set a “hold” rating for the company in a research note on Tuesday, March 28th. Finally, Zacks Investment Research lowered shares of Scholastic Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, March 29th.

In related news, CEO Richard Robinson sold 98,681 shares of the company’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $43.56, for a total value of $4,298,544.36. Following the completion of the transaction, the chief executive officer now directly owns 4,363,261 shares in the company, valued at $190,063,649.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andres A. Alonso sold 964 shares of the company’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $43.48, for a total value of $41,914.72. Following the completion of the transaction, the director now owns 1,089 shares of the company’s stock, valued at $47,349.72. The disclosure for this sale can be found here. Insiders sold 269,838 shares of company stock valued at $11,668,638 over the last three months. 24.16% of the stock is owned by company insiders.

About Scholastic Corporation

Scholastic Corporation 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.

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Institutional Ownership by Quarter for Scholastic Corporation (NASDAQ:SCHL)

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