Cubist Systematic Strategies LLC acquired a new position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 52,560 shares of the technology company's stock, valued at approximately $1,213,000. Cubist Systematic Strategies LLC owned 0.09% of QuinStreet at the end of the most recent quarter.
A number of other large investors have also modified their holdings of QNST. Arcadia Investment Management Corp MI purchased a new stake in shares of QuinStreet during the fourth quarter worth $38,000. KBC Group NV increased its holdings in QuinStreet by 64.5% in the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company's stock valued at $82,000 after buying an additional 1,396 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in QuinStreet by 43.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company's stock valued at $88,000 after buying an additional 1,162 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in QuinStreet in the fourth quarter valued at $112,000. Finally, BankPlus Trust Department purchased a new position in QuinStreet in the fourth quarter valued at $198,000. Hedge funds and other institutional investors own 97.83% of the company's stock.
QuinStreet Stock Performance
Shares of QNST stock traded up $0.05 during mid-day trading on Monday, hitting $15.40. 929,274 shares of the stock were exchanged, compared to its average volume of 506,724. The stock's fifty day simple moving average is $16.90 and its two-hundred day simple moving average is $20.21. The stock has a market capitalization of $869.62 million, a price-to-earnings ratio of -70.00 and a beta of 0.79. QuinStreet, Inc. has a 12-month low of $14.39 and a 12-month high of $26.27.
QuinStreet (NASDAQ:QNST - Get Free Report) last announced its earnings results on Wednesday, May 7th. The technology company reported $0.21 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $269.84 million during the quarter, compared to the consensus estimate of $270.36 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The business's quarterly revenue was up 60.1% compared to the same quarter last year. On average, research analysts expect that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
QNST has been the topic of several recent analyst reports. Stephens reissued an "overweight" rating and issued a $31.00 target price on shares of QuinStreet in a report on Thursday, May 8th. B. Riley reaffirmed a "buy" rating and set a $34.00 price objective (up previously from $32.00) on shares of QuinStreet in a report on Friday, February 7th. Lake Street Capital dropped their price objective on QuinStreet from $27.00 to $19.00 and set a "hold" rating on the stock in a report on Thursday, May 8th. Barrington Research reaffirmed an "outperform" rating and set a $29.00 price objective on shares of QuinStreet in a report on Wednesday, April 23rd. Finally, StockNews.com raised QuinStreet from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, QuinStreet currently has an average rating of "Moderate Buy" and an average target price of $29.00.
Check Out Our Latest Stock Analysis on QNST
Insider Transactions at QuinStreet
In other news, CFO Gregory Wong sold 8,516 shares of the 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 owns 337,031 shares in the company, valued at approximately $7,711,269.28. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.00% of the company's stock.
QuinStreet Company Profile
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Free Report)
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.
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