Quinn Opportunity Partners LLC Has $2.91 Million Stake in Chegg, Inc. $CHGG

Quinn Opportunity Partners LLC trimmed its holdings in shares of Chegg, Inc. (NYSE:CHGG) by 30.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,406,542 shares of the technology company’s stock after selling 1,076,224 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in Chegg were worth $2,912,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CHGG. Ground Swell Capital LLC acquired a new position in Chegg during the second quarter valued at approximately $27,000. Quantbot Technologies LP bought a new position in shares of Chegg during the first quarter worth about $28,000. Cerity Partners LLC boosted its position in Chegg by 226.6% during the 1st quarter. Cerity Partners LLC now owns 45,208 shares of the technology company’s stock worth $29,000 after acquiring an additional 31,366 shares during the last quarter. CW Advisors LLC acquired a new stake in shares of Chegg in the first quarter valued at approximately $32,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Chegg by 101.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,861 shares of the technology company’s stock worth $37,000 after purchasing an additional 15,549 shares in the last quarter. 95.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHGG has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Chegg in a report on Wednesday, October 8th. Zacks Research downgraded Chegg from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Five investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $1.70.

Chegg Trading Up 27.5%

Shares of CHGG opened at $1.14 on Wednesday. The stock has a 50 day moving average of $1.38 and a 200 day moving average of $1.27. The company has a market capitalization of $122.95 million, a price-to-earnings ratio of -1.58 and a beta of 1.93. Chegg, Inc. has a 12 month low of $0.44 and a 12 month high of $2.73.

About Chegg

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.