Renaissance Technologies LLC increased its position in shares of QuinStreet, Inc. (NASDAQ:QNST) by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 982,100 shares of the technology company’s stock after acquiring an additional 50,300 shares during the period. Renaissance Technologies LLC’s holdings in QuinStreet were worth $18,247,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in QuinStreet during the 2nd quarter worth about $40,000. FORA Capital LLC purchased a new stake in QuinStreet during the 1st quarter worth about $68,000. Quantbot Technologies LP purchased a new stake in QuinStreet during the 1st quarter worth about $91,000. PDT Partners LLC purchased a new stake in QuinStreet during the 1st quarter worth about $205,000. Finally, Jane Street Group LLC purchased a new stake in QuinStreet during the 1st quarter worth about $215,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded QuinStreet from a “hold” rating to a “sell” rating in a report on Saturday, October 23rd.
QuinStreet (NASDAQ:QNST) last released its quarterly earnings data on Wednesday, August 4th. The technology company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.13. QuinStreet had a return on equity of 8.43% and a net margin of 4.14%. The business had revenue of $151.20 million for the quarter, compared to the consensus estimate of $142.36 million. During the same quarter in the prior year, the business posted $0.14 EPS. The business’s revenue for the quarter was up 29.3% on a year-over-year basis. Analysts forecast that QuinStreet, Inc. will post 0.37 EPS for the current year.
In other news, Director Robin Josephs sold 20,000 shares of the stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $18.69, for a total value of $373,800.00. Following the transaction, the director now owns 55,402 shares in the company, valued at approximately $1,035,463.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas Valenti sold 30,573 shares of the firm’s stock in a transaction that occurred on Wednesday, October 6th. The stock was sold at an average price of $17.37, for a total value of $531,053.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,672 shares of company stock worth $2,404,574. Company insiders own 9.00% of the company’s stock.
QuinStreet, Inc engages in the provision of media management services. It operates through the United States and International geographical segments. Its platform offers performance marketing products based from number of clicks, inquiries, calls, applications, and full customer acquisitions. The company was founded by Douglas Valenti on April 16, 1999 and is headquartered in Foster City, CA.
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