QuinStreet, Inc. (NASDAQ:QNST – Get Free Report)’s share price dropped 7.8% during trading on Monday. The company traded as low as $19.52 and last traded at $19.04. Approximately 134,490 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 866,342 shares. The stock had previously closed at $20.66.
Analyst Upgrades and Downgrades
QNST has been the subject of several recent analyst reports. Zacks Research lowered shares of QuinStreet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Northland Securities set a $23.00 price objective on shares of QuinStreet in a report on Thursday, September 17th. Lake Street Capital upgraded shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Friday, August 7th. B. Riley Financial reissued a “buy” rating on shares of QuinStreet in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of QuinStreet from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.50.
Read Our Latest Analysis on QuinStreet
QuinStreet Stock Performance
The company has a market cap of $1.07 billion, a PE ratio of 11.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.32. The firm’s 50 day moving average is $16.87 and its 200-day moving average is $14.64.
QuinStreet (NASDAQ:QNST – Get Free Report) last released its earnings results on Wednesday, November 4th. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. The business had revenue of $416.65 million for the quarter, compared to analyst estimates of $373.88 million. QuinStreet had a net margin of 6.58% and a return on equity of 15.69%. On average, research analysts anticipate that QuinStreet, Inc. will post 1.06 earnings per share for the current fiscal year.
Insider Activity at QuinStreet
In related news, CFO Gregory Wong sold 11,704 shares of QuinStreet stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $20.44, for a total transaction of $239,229.76. Following the transaction, the chief financial officer owned 481,786 shares in the company, valued at approximately $9,847,705.84. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Asmau Ahmed sold 10,000 shares of the business’s stock in a transaction 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 transaction, the director directly owned 24,979 shares in the company, valued at $507,073.70. This trade represents a 28.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 36,704 shares of company stock valued at $754,980. Insiders own 3.50% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in QuinStreet during the second quarter worth about $160,805,000. Lazard Asset Management LLC boosted its holdings in QuinStreet by 619.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,441,113 shares of the technology company’s stock valued at $17,308,000 after purchasing an additional 1,240,667 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in QuinStreet by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,200,335 shares of the technology company’s stock valued at $14,417,000 after purchasing an additional 23,886 shares during the last quarter. Jacobs Asset Management LLC boosted its holdings in QuinStreet by 21.6% in the 1st quarter. Jacobs Asset Management LLC now owns 1,134,300 shares of the technology company’s stock valued at $13,623,000 after purchasing an additional 201,800 shares during the last quarter. Finally, NewEdge Wealth LLC purchased a new stake in shares of QuinStreet in the 2nd quarter valued at approximately $12,157,000. Institutional investors and hedge funds own 97.83% of the company’s stock.
QuinStreet Company Profile
QuinStreet, Inc. is a digital performance marketing company that connects consumers researching financial and home services with businesses seeking customers. The company uses online marketplaces and marketing programs to help clients reach people who are actively looking for products and services. Its offerings include digital media, proprietary technology, data and analytics, and lead-generation services. QuinStreet serves clients in areas such as insurance, mortgages, credit cards, banking and home services, and its platforms help consumers compare options and request information from providers.
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