Insider Buying: Scholastic Co. (NASDAQ:SCHL) EVP Purchases 1,654 Shares of Stock

Scholastic Co. (NASDAQ:SCHL) EVP Iole Lucchese acquired 1,654 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average cost of $30.49 per share, for a total transaction of $50,430.46. Following the transaction, the executive vice president now owns 74,264 shares of the company’s stock, valued at $2,264,309.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Scholastic Price Performance

NASDAQ SCHL traded up $0.21 during trading on Thursday, hitting $30.93. The company’s stock had a trading volume of 179,386 shares, compared to its average volume of 218,118. The company has a market cap of $884.60 million, a PE ratio of 21.33 and a beta of 1.02. The business’s 50 day simple moving average is $35.25 and its 200-day simple moving average is $36.76. Scholastic Co. has a fifty-two week low of $28.64 and a fifty-two week high of $45.98.

Scholastic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Friday, August 30th. Scholastic’s dividend payout ratio is presently 55.17%.

Institutional Investors Weigh In On Scholastic

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in Scholastic in the fourth quarter worth about $25,000. EntryPoint Capital LLC purchased a new position in shares of Scholastic in the first quarter worth about $129,000. SG Americas Securities LLC raised its stake in shares of Scholastic by 14.3% in the fourth quarter. SG Americas Securities LLC now owns 4,517 shares of the company’s stock worth $170,000 after purchasing an additional 566 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Scholastic in the fourth quarter worth about $172,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Scholastic by 4,475.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,079 shares of the company’s stock worth $191,000 after purchasing an additional 4,968 shares during the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Scholastic from a “buy” rating to a “hold” rating in a research report on Friday, July 19th.

About Scholastic

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 books, eBooks, media, and interactive products through its school book clubs and fair channels, and trade channel.