Chegg (NYSE:CHGG) Receives Maintains Rating from 888

888 restated their maintains rating on shares of Chegg (NYSE:CHGG – Get Rating) in a report released on Wednesday morning, Benzinga reports.

Other equities analysts also recently issued reports about the stock. KeyCorp raised shares of Chegg from a sector weight rating to an overweight rating and set a $29.00 price target on the stock in a research note on Thursday, January 19th. StockNews.com lowered shares of Chegg from a buy rating to a hold rating in a research report on Wednesday, March 22nd. 500.com reiterated a downgrade rating on shares of Chegg in a research note on Tuesday. Needham & Company LLC cut shares of Chegg from a buy rating to a hold rating in a research report on Wednesday, January 18th. Finally, Barrington Research lowered shares of Chegg from an outperform rating to a market perform rating in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $18.77.

Chegg Stock Performance

CHGG opened at $10.14 on Wednesday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 2.97 and a beta of 1.15. Chegg has a 1-year low of $8.72 and a 1-year high of $30.05. The business has a 50 day moving average price of $16.14 and a two-hundred day moving average price of $21.19. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.56 and a quick ratio of 8.24.

Chegg (NYSE:CHGG – Get Rating) last posted its quarterly earnings results on Monday, February 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. Chegg had a return on equity of 4.82% and a net margin of 34.97%. The company had revenue of $205.19 million for the quarter, compared to analysts’ expectations of $202.10 million. During the same quarter in the prior year, the company earned $0.19 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. Research analysts predict that Chegg will post 0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Esther Lem sold 5,700 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $16.86, for a total value of $96,102.00. Following the sale, the chief marketing officer now directly owns 171,300 shares of the company’s stock, valued at approximately $2,888,118. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Chegg news, COO Nathan J. Schultz sold 4,041 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $15.64, for a total transaction of $63,201.24. Following the transaction, the chief operating officer now owns 224,637 shares in the company, valued at approximately $3,513,322.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Esther Lem sold 5,700 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $16.86, for a total transaction of $96,102.00. Following the transaction, the chief marketing officer now owns 171,300 shares in the company, valued at approximately $2,888,118. The disclosure for this sale can be found here. Insiders own 2.25% of the company’s stock.

Institutional Trading of Chegg

Large investors have recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new stake in shares of Chegg during the 4th quarter worth approximately $630,000. SG Americas Securities LLC raised its stake in shares of Chegg by 83.3% during the fourth quarter. SG Americas Securities LLC now owns 129,269 shares of the technology company’s stock valued at $3,267,000 after acquiring an additional 58,730 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Chegg by 41.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 35,733 shares of the technology company’s stock worth $903,000 after buying an additional 10,527 shares during the period. Legato Capital Management LLC acquired a new stake in shares of Chegg during the fourth quarter worth $573,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Chegg during the third quarter worth $775,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

About Chegg

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Chegg, Inc operates a learning platform for students. It intends to empower students to take control of their education and help the students study, college admissions exams, accomplish their goals, get grades, and test scores. The firm offers required and non-required scholastic materials including textbooks in any format, access to online homework help and textbook solutions, course organization and scheduling, college and university matching tools and scholarship connections.