Chegg, Inc: Par Investment Partners Lp Makes Purchase

February 15, 2018 - By Peter Erickson

 Chegg, Inc: Par Investment Partners Lp Makes Purchase

Investors sentiment decreased to 1.89 in Q3 2017. Its down 0.82, from 2.71 in 2017Q2. It is negative, as 26 investors sold Chegg, Inc. shares while 27 reduced holdings. 34 funds opened positions while 66 raised stakes. 102.60 million shares or 21.13% more from 84.70 million shares in 2017Q2 were reported.

Arrowstreet Partnership accumulated 438,599 shares or 0.02% of the stock. State Common Retirement Fund reported 0.01% in Chegg, Inc. (NYSE:CHGG). Neuberger Berman Gp Ltd Liability Co invested in 46,000 shares. Global X Mngmt Lc invested in 3,150 shares or 0% of the stock. 55,257 are held by Putnam Ltd Llc. Comml Bank Of Mellon Corporation holds 0% or 345,596 shares. Fred Alger invested in 2.66M shares. Advisory has invested 0.06% in Chegg, Inc. (NYSE:CHGG). Price T Rowe Md reported 0.02% stake. Natixis holds 0% or 11,883 shares in its portfolio. Credit Suisse Ag has 0% invested in Chegg, Inc. (NYSE:CHGG) for 104,951 shares. Macquarie Gp Limited accumulated 149,300 shares or 0% of the stock. Amalgamated State Bank, New York-based fund reported 12,091 shares. Td Asset Management has invested 0% in Chegg, Inc. (NYSE:CHGG). Oppenheimer Asset Mgmt reported 10,868 shares.

Since August 15, 2017, it had 0 insider buys, and 14 insider sales for $9.93 million activity. $502,980 worth of Chegg, Inc. (NYSE:CHGG) was sold by Lem Esther on Tuesday, January 2. $764,000 worth of Chegg, Inc. (NYSE:CHGG) shares were sold by GEIGER CHARLES. Another trade for 13,256 shares valued at $199,635 was made by BORDERS DAVE JR. on Sunday, October 1. The insider ROSENSWEIG DANIEL sold $3.19 million. Osier Michael A. sold $832,650 worth of stock or 48,750 shares.

The New Par Investment Partners Lp Holding in Chegg, Inc

Par Investment Partners Lp reported SC 13G/A form with the SEC for Chegg, Inc. Access it here: 000119312518045344. As reported by Par Investment Partners Lp, the filler owns 5.8% or 6,241,298 shares of the Consumer Discretionary–company.

Chegg, Inc stake is new for [reportingPerson]. Date of activity: December 31, 2017. This shows Par Investment Partners Lp’s positive view for Chegg, Inc.

Chegg, Inc Institutional Sentiment

Filings show 94 investors own Chegg, Inc. The ownership in Q3 2015 is high, at Infinity of the outstanding shares. This is increased by 11564684. 69243050 were owned by these investors. 16 funds opened new Chegg, Inc stakes, 25 increased positions. There were 21 that closed positions and 39 reduced them.

4 investors had the stock in their top 10. Some are: Timpani Capital Management Llc, Ashford Capital Management Inc, Millennium Tvp Management Co. Llc, Act Ii Management Lp, Sylebra Hk Co Ltd, Emerald Advisers Inc Pa, Emerald Mutual Fund Advisers Trust, S Squared Technology Llc, P.A.W. Capital Corp..

Dennis Leibowitz Act Ii Management Lp is an investor bullish on Chegg, Inc, owning 796499 shares as of Q3 2015 for 3.19% of its portfolio. Foundation Capital Llc owns 1500208 shares or 1.32% of its portfolio. NY Millennium Tvp Management Company have 11.01% of its portfolio for 1663790 shares. Further, Sylebra Hk Company Ltd reported stake worth 12.08% of its portfolio. The NY Insight Holdings Group Llc owns 7451067 shares. Chegg, Inc is 34.08% of its portfolio.

Business Profile

Chegg, Inc. is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States. It also offers eTextbooks library for rent and sale. The Company also has live tutors on its connected learning platform available to students online, anytime, anywhere through its Chegg Tutors service. It provides access to internships to help students gain skills that are critical to securing their first job. It offers two product lines: Required Materials and Chegg Services. The Required Materials product line includes the rental and sale of print textbooks and eTextbooks, as well as the commission it receives from Ingram.

SEC Form 13G.

The stock decreased 0.32% or $0.06 during the last trading session, reaching $18.93. About 901,365 shares traded. Chegg, Inc. (NYSE:CHGG) has risen 163.16% since February 15, 2017 and is uptrending. It has outperformed by 146.46% the S&P500.

Chegg, Inc. operates student-first connected learning platform that help students transition from high school to college to career. The company has market cap of $2.08 billion. The company's services and products help students to study for college admission exams, find the right college to accomplish their goals, get better grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. It currently has negative earnings. It offers print textbook and eTextbook library for rent and sale; and provides eTextbooks, supplemental materials, Chegg Study service, tutoring service, writing tools, textbook buyback, test preparation service, internships, and college admissions and scholarship services, as well as enrollment marketing and brand advertising services.

Chegg, Inc. (NYSE:CHGG) Ratings Coverage

Among 13 analysts covering Chegg Inc (NYSE:CHGG), 12 have Buy rating, 0 Sell and 1 Hold. Therefore 92% are positive. Chegg Inc has $22.0 highest and $6 lowest target. $15.32’s average target is -19.07% below currents $18.93 stock price. Chegg Inc had 37 analyst reports since August 5, 2015 according to SRatingsIntel. BMO Capital Markets maintained the shares of CHGG in report on Wednesday, January 17 with “Buy” rating. The company was maintained on Tuesday, February 23 by Lake Street. Jefferies maintained Chegg, Inc. (NYSE:CHGG) on Wednesday, July 26 with “Buy” rating. The rating was downgraded by Lake Street to “Hold” on Wednesday, July 26. The stock has “Buy” rating by Barrington on Tuesday, October 31. The rating was maintained by Jefferies with “Buy” on Wednesday, September 6. The stock of Chegg, Inc. (NYSE:CHGG) has “Outperform” rating given on Tuesday, February 14 by Barrington Research. The rating was maintained by Jefferies on Wednesday, June 21 with “Buy”. The stock has “Buy” rating by Jefferies on Tuesday, October 31. Lake Street maintained it with “Buy” rating and $12 target in Tuesday, May 2 report.

More notable recent Chegg, Inc. (NYSE:CHGG) news were published by: Seekingalpha.com which released: “Chegg: An All-Digital Experience” on February 14, 2018, also Finance.Yahoo.com with their article: “Is Chegg (CHGG) Poised for a Beat This Earnings Season?” published on February 09, 2018, Nasdaq.com published: “Earnings Reaction History: Chegg, Inc., 75.0% Follow-Through Indicator, 12.7 …” on February 12, 2018. More interesting news about Chegg, Inc. (NYSE:CHGG) were released by: Investorplace.com and their article: “3 Stocks to Watch on Tuesday: Chegg Inc (CHGG), Dun & Bradstreet Corp (DNB …” published on February 13, 2018 as well as Fool.com‘s news article titled: “Why Shares of Chegg Inc. Are Surging Today” with publication date: February 13, 2018.

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