Short Interest Don’t Lie: Chegg Incorporated (NYSE:CHGG) Reports Decline in Sellers; Strong Momentum for Longs

November 29, 2016 - By Linda Rogers   ·   0 Comments

Short Interest Don't Lie: Chegg Incorporated (NYSE:CHGG) Reports Decline in Sellers; Strong Momentum for Longs

The stock of Chegg Incorporated (NYSE:CHGG) registered a decrease of 0.21% in short interest. CHGG’s total short interest was 13.47 million shares in November as published by FINRA. Its down 0.21% from 13.50M shares, reported previously. With 262,600 shares average volume, it will take short sellers 51 days to cover their CHGG’s short positions. The short interest to Chegg Incorporated’s float is 25.73%. About 83,975 shares traded hands. Chegg Inc (NYSE:CHGG) has risen 77.52% since April 26, 2016 and is uptrending. It has outperformed by 72.26% the S&P500.

Chegg, Inc. is a student-first connected learning platform. The company has a market cap of $744.77 million. The Firm 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. It currently has negative earnings. It matches domestic and international students with colleges, universities and other academic institutions in the United States.

Insitutional Activity: The institutional sentiment increased to 1.94 in Q2 2016. Its up 0.88, from 1.06 in 2016Q1. The ratio is positive, as 11 funds sold all Chegg Inc shares owned while 25 reduced positions. 9 funds bought stakes while 29 increased positions. They now own 61.01 million shares or 1.48% less from 61.93 million shares in 2016Q1.
Addison Clark Mngmt Limited Liability Co has 1.71% invested in the company for 217,359 shares. Wells Fargo And Mn holds 22,793 shares or 0% of its portfolio. Ladenburg Thalmann Inc, a Florida-based fund reported 1,000 shares. Fmr Ltd Limited Liability Company, a Massachusetts-based fund reported 936,200 shares. Primecap Ca accumulated 11.23M shares or 0.06% of the stock. Panagora Asset Mngmt accumulated 3,005 shares or 0% of the stock. Ny State Common Retirement Fund has 69,800 shares for 0% of their US portfolio. D E Shaw & has 134,032 shares for 0% of their US portfolio. Penbrook Lc owns 206,000 shares or 1.14% of their US portfolio. Citadel Ltd Llc has 0% invested in the company for 38,700 shares. New Jersey Better Educational Savings Trust accumulated 0.17% or 50,000 shares. Tower Lc (Trc) holds 2,201 shares or 0% of its portfolio. Act Ii Limited Partnership has 854,553 shares for 3.39% of their US portfolio. Manufacturers Life Insur The, a Ontario – Canada-based fund reported 56,528 shares. Moreover, Qs Investors Llc has 0% invested in Chegg Inc (NYSE:CHGG) for 70 shares.

Insider Transactions: Since August 2, 2016, the stock had 0 insider purchases, and 3 sales for $912,872 net activity. The insider GEIGER CHARLES sold $293,571.

Chegg Inc (NYSE:CHGG) Ratings Coverage

Out of 9 analysts covering Chegg Inc (NYSE:CHGG), 8 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 89% are positive. Chegg Inc has been the topic of 13 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Craig Hallum given on Thursday, November 19. The rating was initiated by First Analysis on Thursday, September 10 with “Overweight”. The firm earned “Market Perform” rating on Tuesday, February 23 by Raymond James. The firm has “Buy” rating given on Tuesday, November 8 by Lake Street. The firm earned “Overweight” rating on Tuesday, February 23 by Piper Jaffray. The stock has “Buy” rating given by Lake Street on Tuesday, February 23. As per Thursday, September 29, the company rating was maintained by Barrington Research.

CHGG Company Profile

Chegg, Inc., incorporated on July 29, 2005, is a student-first connected learning platform. The Firm 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 Firm matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States. Once in college, it provides a range of services and products to help students. The Firm offers a print textbook library for rent and sale both on its own and through its strategic partnership with Ingram. It also offers eTextbooks for rent and sale. The Firm also provides tutors to students online, through its Chegg Tutors service. It provides access to internships to help students gain skills that are critical to securing their first job. The Firm also provides online writing tools, such as EasyBib, CitationMachine or BibMe.

More news for Chegg Inc (NYSE:CHGG) were recently published by: Fool.com, which released: “Why Chegg Inc. Stock Plummeted Today” on February 23, 2016. Prnewswire.com‘s article titled: “Chegg Reports Q3 2016 Earnings” and published on November 07, 2016 is yet another important article.

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By Linda Rogers


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