Public Employees Retirement System of Ohio Makes New Investment in Scholastic Corporation $SCHL

Public Employees Retirement System of Ohio acquired a new position in shares of Scholastic Corporation (NASDAQ:SCHL) in the 2nd quarter, HoldingsChannel reports. The fund acquired 22,817 shares of the company’s stock, valued at approximately $1,050,000.

Several other hedge funds also recently modified their holdings of SCHL. AQR Capital Management LLC increased its position in Scholastic by 160.5% in the 1st quarter. AQR Capital Management LLC now owns 157,436 shares of the company’s stock valued at $2,972,000 after buying an additional 96,998 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Scholastic by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,851 shares of the company’s stock worth $262,000 after acquiring an additional 630 shares in the last quarter. Empowered Funds LLC grew its stake in Scholastic by 4.2% in the first quarter. Empowered Funds LLC now owns 164,178 shares of the company’s stock valued at $3,100,000 after acquiring an additional 6,628 shares during the period. Jane Street Group LLC increased its holdings in shares of Scholastic by 457.8% during the first quarter. Jane Street Group LLC now owns 81,390 shares of the company’s stock valued at $1,537,000 after acquiring an additional 66,798 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Scholastic by 16.8% during the second quarter. Russell Investments Group Ltd. now owns 23,440 shares of the company’s stock valued at $492,000 after acquiring an additional 3,365 shares in the last quarter. Institutional investors own 82.57% of the company’s stock.

Insider Buying and Selling at Scholastic

In related news, Director Andres A. Alonso sold 2,112 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $40.28, for a total transaction of $85,071.36. Following the sale, the director directly owned 21,189 shares in the company, valued at approximately $853,492.92. The trade was a 9.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kaya Henderson sold 3,250 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $40.25, for a total transaction of $130,812.50. Following the completion of the transaction, the director directly owned 7,113 shares in the company, valued at approximately $286,298.25. The trade was a 31.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 294,986 shares of company stock valued at $11,731,334 in the last 90 days. 12.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on SCHL shares. Zacks Research downgraded shares of Scholastic from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. B. Riley Financial boosted their target price on shares of Scholastic from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings lowered shares of Scholastic from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Scholastic has an average rating of “Reduce” and an average target price of $42.00.

Scholastic Trading Up 1.8%

Shares of Scholastic stock opened at $36.30 on Wednesday. The firm has a market cap of $684.62 million, a PE ratio of 15.51, a P/E/G ratio of 1.71 and a beta of 1.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.23 and a quick ratio of 0.78. Scholastic Corporation has a 1 year low of $22.68 and a 1 year high of $48.07. The stock has a fifty day moving average price of $42.36 and a 200-day moving average price of $40.35.

Scholastic (NASDAQ:SCHL) last issued its earnings results on Thursday, July 23rd. The company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.03. The firm had revenue of $476.10 million for the quarter, compared to analyst estimates of $517.06 million. Scholastic had a return on equity of 5.29% and a net margin of 3.58%.During the same period in the previous year, the company posted $0.59 earnings per share. Equities research analysts anticipate that Scholastic Corporation will post 1.6 EPS for the current year.

Scholastic 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.