Scholastic (NASDAQ:SCHL) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Scholastic Corporation (NASDAQ:SCHL) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $38.18 and traded as high as $47.75. Scholastic shares last traded at $46.69, with a volume of 221,420 shares changing hands.

Analyst Ratings Changes

SCHL has been the topic of several recent research reports. B. Riley Financial raised their target price on shares of Scholastic from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Scholastic in a research note on Thursday, June 18th. Zacks Research downgraded Scholastic from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Finally, Wall Street Zen lowered Scholastic from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Scholastic has a consensus rating of “Hold” and an average price target of $42.00.

Scholastic Trading Up 0.8%

The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.49 and a beta of 0.99. The company’s 50-day moving average is $43.00 and its 200-day moving average is $38.30.

Scholastic declared that its Board of Directors has initiated a stock buyback plan on Friday, March 20th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 23% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Scholastic

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its position in Scholastic by 458.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,159 shares of the company’s stock valued at $66,000 after acquiring an additional 2,593 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Scholastic by 29.5% in the fourth quarter. GAMMA Investing LLC now owns 3,289 shares of the company’s stock worth $97,000 after acquiring an additional 749 shares during the last quarter. Marquette Asset Management LLC acquired a new stake in shares of Scholastic in the 4th quarter valued at approximately $116,000. BNP Paribas Financial Markets grew its holdings in shares of Scholastic by 127.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,197 shares of the company’s stock valued at $142,000 after purchasing an additional 2,912 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Scholastic by 5,351.0% during the 1st quarter. Fifth Third Bancorp now owns 5,451 shares of the company’s stock valued at $213,000 after purchasing an additional 5,351 shares during the last quarter. 82.57% of the stock is currently owned by institutional investors.

About Scholastic

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.