Scholastic Buys Back $11.5M of Stock from Founder's Estate at 3% Discount
SCHL sits 72% above its 52-week low of $22.685.
Summary
Scholastic repurchased 289,624 shares from the estate of M. Richard Robinson Jr. at $39.76 per share, totaling $11.52 million. The price reflects a 3% discount to the market, a modest but favorable term for the company. This follows the company's aggressive buyback activity in fiscal 2026, including a $114.1 million repurchase that reduced shares outstanding by 13.7%. The transaction reduces the estate's stake and signals continued capital return to shareholders. Watch for further buyback execution under the remaining authorization.
At the time of this announcement, SCHL was trading at $39.11 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $741.7M. The 52-week trading range was $22.69 to $48.07. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.