Scholastic (NASDAQ:SCHL – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
Separately, TheStreet lowered shares of Scholastic from a “b” rating to a “c+” rating in a research report on Thursday, March 23rd.
Scholastic Trading Up 11.5 %
SCHL stock traded up $4.57 during mid-day trading on Friday, reaching $44.35. 762,663 shares of the stock traded hands, compared to its average volume of 175,917. The stock’s fifty day moving average is $40.43 and its 200-day moving average is $40.59. The company has a market cap of $1.47 billion, a P/E ratio of 26.40 and a beta of 1.05. Scholastic has a 52-week low of $28.22 and a 52-week high of $48.28.
Hedge Funds Weigh In On Scholastic
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCHL. Envestnet Asset Management Inc. grew its holdings in Scholastic by 43.2% during the first quarter. Envestnet Asset Management Inc. now owns 7,639 shares of the company’s stock valued at $308,000 after purchasing an additional 2,306 shares during the last quarter. Raymond James & Associates grew its holdings in Scholastic by 21.0% during the first quarter. Raymond James & Associates now owns 10,092 shares of the company’s stock valued at $407,000 after purchasing an additional 1,753 shares during the last quarter. American Century Companies Inc. grew its holdings in Scholastic by 383.1% during the first quarter. American Century Companies Inc. now owns 41,763 shares of the company’s stock valued at $1,682,000 after purchasing an additional 33,119 shares during the last quarter. Citigroup Inc. grew its holdings in Scholastic by 5.7% during the first quarter. Citigroup Inc. now owns 29,521 shares of the company’s stock valued at $1,189,000 after purchasing an additional 1,593 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in Scholastic by 2.6% during the first quarter. Bank of Montreal Can now owns 14,576 shares of the company’s stock valued at $610,000 after purchasing an additional 363 shares during the last quarter. Institutional investors own 80.97% of the company’s stock.
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 publishes and distributes children’s books, e-books, media, and interactive products through its school book club and fair channels, as well as trade channels.