PEAK6 LLC bought a new stake in QuinStreet, Inc. (NASDAQ:QNST – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 29,497 shares of the technology company’s stock, valued at approximately $432,000. PEAK6 LLC owned approximately 0.05% of QuinStreet as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of QNST. PNC Financial Services Group Inc. increased its position in shares of QuinStreet by 54.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock worth $36,000 after purchasing an additional 1,066 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of QuinStreet by 17.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock worth $65,000 after purchasing an additional 649 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of QuinStreet in the 2nd quarter worth $66,000. Farther Finance Advisors LLC grew its stake in QuinStreet by 10.2% during the 4th quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company’s stock worth $113,000 after buying an additional 730 shares during the last quarter. Finally, Tripletail Wealth Management LLC grew its stake in QuinStreet by 35.2% during the 4th quarter. Tripletail Wealth Management LLC now owns 9,290 shares of the technology company’s stock worth $133,000 after buying an additional 2,420 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
QNST has been the subject of a number of research analyst reports. Zacks Research upgraded QuinStreet from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 30th. B. Riley Financial restated a “buy” rating on shares of QuinStreet in a research note on Friday, August 7th. Weiss Ratings upgraded shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 9th. Wall Street Zen raised shares of QuinStreet from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Lake Street Capital upgraded shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.00.
Insider Buying and Selling
In related news, Director Asmau Ahmed sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $20.30, for a total value of $203,000.00. Following the sale, the director owned 24,979 shares in the company, valued at $507,073.70. This represents a 28.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gregory Wong sold 11,704 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $20.44, for a total value of $239,229.76. Following the completion of the sale, the chief financial officer owned 481,786 shares in the company, valued at approximately $9,847,705.84. This represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 862,026 shares of company stock valued at $17,423,897 over the last quarter. 5.00% of the stock is currently owned by company insiders.
QuinStreet Price Performance
NASDAQ QNST opened at $20.62 on Monday. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 14.62 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 1.18. The stock’s fifty day moving average price is $16.51 and its 200 day moving average price is $13.63. QuinStreet, Inc. has a 1 year low of $10.28 and a 1 year high of $22.29.
QuinStreet (NASDAQ:QNST – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The company had revenue of $373.88 million during the quarter, compared to analysts’ expectations of $359.95 million. QuinStreet had a return on equity of 12.73% and a net margin of 6.28%. As a group, equities research analysts forecast that QuinStreet, Inc. will post 1.06 earnings per share for the current year.
QuinStreet Company Profile
QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.
Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.
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