QuinStreet Inc (NASDAQ:QNST) Short Interest Update

QuinStreet Inc (NASDAQ:QNST) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 5,598,000 shares, an increase of 5.1% from the June 30th total of 5,328,200 shares. Based on an average trading volume of 603,400 shares, the days-to-cover ratio is currently 9.3 days. Approximately 12.8% of the company’s stock are sold short.

A number of research firms have weighed in on QNST. Lake Street Capital began coverage on QuinStreet in a research report on Monday, June 24th. They set a “buy” rating and a $21.00 price target for the company. Northland Securities reaffirmed a “buy” rating and set a $18.00 price target on shares of QuinStreet in a research report on Monday. Stephens set a $19.00 price target on QuinStreet and gave the stock a “buy” rating in a research report on Friday, August 9th. Barrington Research reduced their price target on QuinStreet from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Zacks Investment Research cut QuinStreet from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. QuinStreet presently has an average rating of “Buy” and an average target price of $18.60.

In other QuinStreet news, Director Robin Josephs sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $16.04, for a total transaction of $401,000.00. Following the completion of the transaction, the director now owns 125,404 shares of the company’s stock, valued at approximately $2,011,480.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Douglas Valenti sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $16.09, for a total value of $522,925.00. Following the transaction, the chief executive officer now directly owns 232,500 shares of the company’s stock, valued at approximately $3,740,925. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,000 shares of company stock valued at $1,529,775. Insiders own 12.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp bought a new position in shares of QuinStreet in the fourth quarter valued at approximately $207,000. Geode Capital Management LLC raised its position in shares of QuinStreet by 15.3% in the fourth quarter. Geode Capital Management LLC now owns 453,990 shares of the technology company’s stock valued at $7,367,000 after purchasing an additional 60,155 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in shares of QuinStreet in the fourth quarter valued at approximately $173,000. Legal & General Group Plc raised its position in shares of QuinStreet by 7.7% in the fourth quarter. Legal & General Group Plc now owns 83,953 shares of the technology company’s stock valued at $1,353,000 after purchasing an additional 6,027 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of QuinStreet by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,589,376 shares of the technology company’s stock valued at $25,795,000 after purchasing an additional 72,936 shares during the period. Institutional investors and hedge funds own 95.38% of the company’s stock.

Shares of QuinStreet stock traded up $1.01 on Friday, reaching $11.55. 1,202,224 shares of the company were exchanged, compared to its average volume of 734,277. QuinStreet has a one year low of $10.15 and a one year high of $20.02. The company has a 50-day moving average of $15.26 and a 200 day moving average of $14.83. The company has a market capitalization of $528.58 million, a price-to-earnings ratio of 9.79, a PEG ratio of 0.76 and a beta of 0.61.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). QuinStreet had a net margin of 13.73% and a return on equity of 6.53%. The business had revenue of $121.96 million during the quarter, compared to the consensus estimate of $128.92 million. During the same quarter last year, the company posted $0.13 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. Analysts anticipate that QuinStreet will post 0.56 EPS for the current year.

QuinStreet Company Profile

QuinStreet, Inc, an Internet performance marketing company, provides customer acquisition services for its clients in the United States and internationally. It offers online marketing services to its clients in the form of qualified leads, inquiries, clicks, calls, applications, customers, display advertisements, or impressions through its Websites or third-party publishers.

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