Cubist Systematic Strategies LLC Takes $1.21 Million Position in QuinStreet, Inc. (NASDAQ:QNST)

Cubist Systematic Strategies LLC purchased a new stake in QuinStreet, Inc. (NASDAQ:QNST - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 52,560 shares of the technology company's stock, valued at approximately $1,213,000. Cubist Systematic Strategies LLC owned approximately 0.09% of QuinStreet as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its holdings in shares of QuinStreet by 1.4% during the fourth quarter. State of Alaska Department of Revenue now owns 31,976 shares of the technology company's stock worth $737,000 after buying an additional 432 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of QuinStreet by 1.8% during the fourth quarter. SG Americas Securities LLC now owns 26,060 shares of the technology company's stock worth $601,000 after purchasing an additional 459 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of QuinStreet by 1.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 27,200 shares of the technology company's stock worth $628,000 after purchasing an additional 500 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of QuinStreet by 43.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company's stock worth $88,000 after purchasing an additional 1,162 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of QuinStreet by 64.5% during the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company's stock worth $82,000 after purchasing an additional 1,396 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

QuinStreet Trading Down 2.3%

QNST traded down $0.36 on Friday, reaching $15.35. The company had a trading volume of 677,027 shares, compared to its average volume of 504,078. The company has a fifty day moving average of $16.94 and a 200-day moving average of $20.25. The company has a market capitalization of $866.80 million, a P/E ratio of -69.77 and a beta of 0.79. QuinStreet, Inc. has a one year low of $14.39 and a one year high of $26.27.

QuinStreet (NASDAQ:QNST - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.15. QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. The company had revenue of $269.84 million during the quarter, compared to the consensus estimate of $270.36 million. During the same period in the prior year, the company earned $0.06 EPS. QuinStreet's revenue was up 60.1% on a year-over-year basis. Research analysts predict that QuinStreet, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling at QuinStreet

In other QuinStreet news, CFO Gregory Wong sold 8,516 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $22.88, for a total transaction of $194,846.08. Following the completion of the sale, the chief financial officer now directly owns 337,031 shares of the company's stock, valued at approximately $7,711,269.28. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on QNST shares. StockNews.com raised shares of QuinStreet from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Barrington Research reaffirmed an "outperform" rating and issued a $29.00 price target on shares of QuinStreet in a report on Wednesday, April 23rd. Stephens reaffirmed an "overweight" rating and issued a $31.00 price target on shares of QuinStreet in a report on Thursday, May 8th. Lake Street Capital cut their price target on shares of QuinStreet from $27.00 to $19.00 and set a "hold" rating on the stock in a report on Thursday, May 8th. Finally, B. Riley reaffirmed a "buy" rating and issued a $34.00 price target (up from $32.00) on shares of QuinStreet in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, QuinStreet has an average rating of "Moderate Buy" and an average price target of $29.00.

QuinStreet Company Profile

QuinStreet, Inc, an online performance marketing company, provides customer acquisition services for its clients in the United States and internationally. The company offers online marketing services, such as qualified clicks, leads, calls, applications, and customers through its websites or third-party publishers.