Scholastic (NASDAQ:SCHL) Trading Down 3.5% – Here’s What Happened

Scholastic Co. (NASDAQ:SCHL) shares traded down 3.5% on Wednesday . The company traded as low as $18.42 and last traded at $18.38. 60,880 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 228,425 shares. The stock had previously closed at $19.06.

Scholastic Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.24 and a quick ratio of 0.81. The stock’s 50 day simple moving average is $20.08 and its two-hundred day simple moving average is $24.21. The stock has a market cap of $524.93 million, a P/E ratio of -103.80 and a beta of 1.10.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, December 19th. The company reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.48). Scholastic had a negative net margin of 0.27% and a positive return on equity of 1.91%. As a group, research analysts forecast that Scholastic Co. will post 0.84 EPS for the current year.

Institutional Trading of Scholastic

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new stake in shares of Scholastic in the fourth quarter valued at approximately $33,000. Meeder Asset Management Inc. acquired a new stake in shares of Scholastic in the third quarter valued at approximately $46,000. KBC Group NV raised its holdings in shares of Scholastic by 125.4% in the fourth quarter. KBC Group NV now owns 2,443 shares of the company’s stock valued at $52,000 after purchasing an additional 1,359 shares during the last quarter. FMR LLC raised its holdings in shares of Scholastic by 58.8% in the third quarter. FMR LLC now owns 2,346 shares of the company’s stock valued at $75,000 after purchasing an additional 869 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Scholastic in the fourth quarter valued at approximately $96,000. 82.57% of the stock is currently owned by institutional investors and hedge funds.

Scholastic Company Profile

Scholastic Corporation publishes and distributes children’s books worldwide. It operates in three segments: Children’s Book Publishing and Distribution, Education Solutions, and International. The Children’s Book Publishing and Distribution segment engages in publication and distribution of children’s print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.