SG Americas Securities LLC Makes New Investment in Chegg, Inc. (NYSE:CHGG)

SG Americas Securities LLC acquired a new position in Chegg, Inc. (NYSE:CHGG) during the second quarter, according to its most recent filing with the SEC. The firm acquired 31,242 shares of the technology company’s stock, valued at approximately $99,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Chegg during the first quarter valued at approximately $30,000. Headlands Technologies LLC bought a new stake in shares of Chegg during the 4th quarter valued at $48,000. Quest Partners LLC purchased a new stake in shares of Chegg in the 4th quarter worth about $114,000. Entropy Technologies LP purchased a new stake in shares of Chegg in the 1st quarter worth about $90,000. Finally, Par Capital Management Inc. bought a new position in shares of Chegg in the 4th quarter worth about $204,000. Hedge funds and other institutional investors own 95.18% of the company’s stock.

Chegg Trading Up 2.9 %

Shares of NYSE CHGG opened at $2.29 on Tuesday. Chegg, Inc. has a fifty-two week low of $1.95 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $233.57 million, a price-to-earnings ratio of -12.03, a PEG ratio of 0.56 and a beta of 1.35. The business’s 50 day moving average price is $2.81 and its 200-day moving average price is $5.17.

Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, August 5th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. The company had revenue of $163.10 million during the quarter, compared to analysts’ expectations of $160.02 million. Chegg had a net margin of 2.07% and a return on equity of 0.87%. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 EPS. On average, sell-side analysts expect that Chegg, Inc. will post 0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CHGG. Northland Securities decreased their target price on shares of Chegg from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Tuesday, August 6th. The Goldman Sachs Group upgraded Chegg from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $3.75 in a research note on Tuesday, August 6th. Needham & Company LLC reissued a “hold” rating on shares of Chegg in a research note on Tuesday, August 6th. Morgan Stanley dropped their price target on shares of Chegg from $3.25 to $3.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Finally, Craig Hallum cut their target price on Chegg from $7.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, Chegg presently has a consensus rating of “Hold” and a consensus target price of $5.47.

Chegg Company Profile

Chegg, Inc operates a direct-to-student learning platform that helps learners build essential life and job skills to accelerate their path from learning programs in the United States and internationally. Its subscription services include Chegg Study, which offers personalized step-by-step learning support from AI, computational engines, and subject matter experts, as well as Tinger Gold and DashPash Student services; Chegg Writing that provides students with a suite of tools, such as plagiarism detection scans, grammar and writing fluency checking, expert personalized writing feedback, and premium citation generation; Chegg Math, a step-by-step math problem solver and calculator that helps students to solve problems; Chegg Study Pack, a bundle of various subscription product offerings, including Chegg Study, Chegg Writing, and Chegg Math services; and Busuu, an online language learning platform that offers comprehensive support through self-paced lessons, live classes with expert tutors, and a community of members to practice alongside.