Y Intercept Hong Kong Ltd Makes New $80,000 Investment in Chegg, Inc. $CHGG

Y Intercept Hong Kong Ltd purchased a new stake in Chegg, Inc. (NYSE:CHGG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 66,438 shares of the technology company’s stock, valued at approximately $80,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ground Swell Capital LLC bought a new stake in shares of Chegg in the 2nd quarter valued at $27,000. Quantbot Technologies LP acquired a new stake in Chegg in the first quarter worth $28,000. Cerity Partners LLC increased its stake in Chegg by 226.6% in the first quarter. Cerity Partners LLC now owns 45,208 shares of the technology company’s stock valued at $29,000 after purchasing an additional 31,366 shares in the last quarter. CW Advisors LLC bought a new stake in Chegg in the first quarter valued at $32,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Chegg by 101.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,861 shares of the technology company’s stock valued at $37,000 after purchasing an additional 15,549 shares during the period. 95.18% of the stock is currently owned by institutional investors.

Chegg Price Performance

Shares of NYSE CHGG opened at $0.89 on Monday. The company has a 50-day moving average price of $1.40 and a 200-day moving average price of $1.26. The stock has a market capitalization of $96.74 million, a P/E ratio of -0.34 and a beta of 1.93. Chegg, Inc. has a 1 year low of $0.44 and a 1 year high of $2.73.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Zacks Research downgraded Chegg from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chegg in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $1.70.

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.