Rhumbline Advisers Buys 12,732 Shares of QuinStreet Inc (NASDAQ:QNST)

Rhumbline Advisers lifted its stake in shares of QuinStreet Inc (NASDAQ:QNST) by 10.5% in the third quarter, Holdings Channel.com reports. The fund owned 134,382 shares of the technology company’s stock after acquiring an additional 12,732 shares during the quarter. Rhumbline Advisers’ holdings in QuinStreet were worth $1,692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its holdings in QuinStreet by 4.5% in the second quarter. BlackRock Inc. now owns 6,740,054 shares of the technology company’s stock worth $106,829,000 after purchasing an additional 290,290 shares in the last quarter. Artemis Investment Management LLP increased its holdings in QuinStreet by 36.7% in the second quarter. Artemis Investment Management LLP now owns 737,665 shares of the technology company’s stock worth $11,366,000 after purchasing an additional 198,004 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in QuinStreet by 29.0% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 845,000 shares of the technology company’s stock worth $13,393,000 after purchasing an additional 190,000 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in QuinStreet by 164.6% in the third quarter. State of Alaska Department of Revenue now owns 35,236 shares of the technology company’s stock worth $443,000 after purchasing an additional 21,921 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in QuinStreet by 18.9% in the second quarter. Allianz Asset Management GmbH now owns 405,486 shares of the technology company’s stock worth $6,426,000 after purchasing an additional 64,335 shares in the last quarter. Institutional investors own 99.30% of the company’s stock.

Shares of QuinStreet stock opened at $15.20 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.71 and a current ratio of 1.73. QuinStreet Inc has a 52 week low of $10.15 and a 52 week high of $20.02. The stock has a 50 day moving average price of $12.99 and a two-hundred day moving average price of $14.12. The stock has a market capitalization of $787.85 million, a PE ratio of 96.13, a price-to-earnings-growth ratio of 1.71 and a beta of 0.73.

In other QuinStreet news, Director Robin Josephs sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $15.53, for a total value of $1,164,750.00. Following the completion of the sale, the director now owns 125,404 shares of the company’s stock, valued at $1,947,524.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas Valenti sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $12.59, for a total value of $409,175.00. Following the completion of the sale, the chief executive officer now directly owns 362,501 shares of the company’s stock, valued at approximately $4,563,887.59. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.

QNST has been the subject of a number of research analyst reports. Barrington Research lowered their target price on QuinStreet from $20.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. BidaskClub upgraded QuinStreet from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. Stephens set a $19.00 target price on QuinStreet and gave the stock a “buy” rating in a report on Friday, August 9th. ValuEngine downgraded QuinStreet from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Northland Securities reiterated a “buy” rating and issued a $18.00 target price on shares of QuinStreet in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $18.50.

About QuinStreet

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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Institutional Ownership by Quarter for QuinStreet (NASDAQ:QNST)

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