Chegg Inc (NYSE:CHGG) shares are trading higher by 5.78% at $21.60 after the company announced it increased its buyback program by $1 billion.
Chegg says, in addition to this increased $1 billion securities repurchase authorization, the company has approximately $65 million remaining from its previously announced $1 billion securities repurchase program. Chegg currently expects to fund the repurchase program from its existing cash balance and future cash flows from operations.
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Chegg is an American educational services company that specializes in textbook rentals, course assistance, and online tutoring.
According to data from Benzinga Pro, Chegg has a 52-week high of $90.50 and a 52-week low of $15.66.
