Hsbc Holdings PLC Takes $1.24 Million Position in Scholastic Corporation $SCHL

Hsbc Holdings PLC acquired a new stake in Scholastic Corporation (NASDAQ:SCHL) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 26,534 shares of the company’s stock, valued at approximately $1,236,000.

Other hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in Scholastic during the second quarter worth about $43,000. Tower Research Capital LLC TRC increased its holdings in shares of Scholastic by 458.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,159 shares of the company’s stock worth $66,000 after acquiring an additional 2,593 shares in the last quarter. State of Wyoming acquired a new stake in shares of Scholastic during the second quarter worth about $115,000. BNP Paribas Financial Markets raised its position in shares of Scholastic by 127.4% during the third quarter. BNP Paribas Financial Markets now owns 5,197 shares of the company’s stock worth $142,000 after purchasing an additional 2,912 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of Scholastic during the 4th quarter valued at about $211,000. Institutional investors and hedge funds own 82.57% of the company’s stock.

Scholastic Stock Performance

Shares of Scholastic stock opened at $38.40 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.23 and a quick ratio of 0.78. The firm has a market cap of $724.22 million, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. The stock’s 50-day moving average is $43.26 and its 200-day moving average is $40.21. Scholastic Corporation has a one year low of $22.68 and a one year high of $48.07.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.03. Scholastic had a return on equity of 5.29% and a net margin of 3.58%.The business had revenue of $476.10 million during the quarter, compared to the consensus estimate of $517.06 million. During the same period last year, the company earned $0.59 earnings per share. Equities analysts predict that Scholastic Corporation will post 1.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kaya Henderson sold 3,250 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $40.25, for a total value of $130,812.50. Following the sale, the director owned 7,113 shares of the company’s stock, valued at $286,298.25. The trade was a 31.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Iole Lucchese sold 289,624 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $39.76, for a total transaction of $11,515,450.24. Following the transaction, the executive vice president owned 289,623 shares of the company’s stock, valued at $11,515,410.48. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 294,986 shares of company stock valued at $11,731,334 in the last quarter. 12.77% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SCHL. Weiss Ratings lowered Scholastic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Zacks Research downgraded shares of Scholastic from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Finally, B. Riley Financial lifted their price target on shares of Scholastic from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $42.00.

About Scholastic

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.