BidaskClub Upgrades Scholastic (NASDAQ:SCHL) to “Sell”

BidaskClub upgraded shares of Scholastic (NASDAQ:SCHL) from a strong sell rating to a sell rating in a research note released on Wednesday morning, BidAskClub reports.

Several other brokerages have also recently weighed in on SCHL. Zacks Investment Research raised HENKEL AG & CO/S from a sell rating to a hold rating in a research note on Thursday, June 6th. ValuEngine cut USD Partners from a hold rating to a sell rating in a research note on Friday, June 14th. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. The stock has a consensus rating of Sell and a consensus price target of $44.50.

SCHL stock opened at $32.74 on Wednesday. Scholastic has a 12-month low of $31.38 and a 12-month high of $47.94. The firm’s 50 day moving average price is $33.05. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 22.90 and a beta of 0.82.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. acquired a new stake in Scholastic in the 4th quarter valued at approximately $28,000. Investors Research Corp acquired a new stake in shares of Scholastic during the first quarter worth $48,000. Assenagon Asset Management S.A. acquired a new stake in shares of Scholastic during the first quarter worth $246,000. WINTON GROUP Ltd acquired a new stake in shares of Scholastic during the second quarter worth $248,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Scholastic by 146.4% during the first quarter. BNP Paribas Arbitrage SA now owns 6,522 shares of the company’s stock worth $259,000 after purchasing an additional 3,875 shares during the period. 80.42% of the stock is currently owned by hedge funds and other institutional investors.

Scholastic Company Profile

Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, 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 school book fair channels, as well as through its trade channel.

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