59,265 Shares in QuinStreet, Inc. $QNST Acquired by Summit Global Investments

Key Points

• Summit Global Investments acquired 59,265 QuinStreet shares worth approximately $868,000, giving it a 0.10% stake. Institutional investors collectively own 97.83% of the company.
• QuinStreet exceeded quarterly expectations, reporting $0.50 in EPS versus the $0.44 consensus estimate and revenue of $373.88 million, ahead of the $359.95 million forecast.
• Analyst sentiment is broadly positive, with four Buy ratings and two Holds producing a “Moderate Buy” consensus and a $22 average price target. Meanwhile, insiders sold about 825,322 shares worth $16.7 million over the past 90 days.

Summit Global Investments purchased a new stake in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 59,265 shares of the technology company's stock, valued at approximately $868,000. Summit Global Investments owned approximately 0.10% of QuinStreet at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of QNST. PNC Financial Services Group Inc. grew its holdings 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 during the last quarter. GAMMA Investing LLC raised its holdings in shares of QuinStreet by 17.0% in the second quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company's stock valued at $65,000 after buying an additional 649 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of QuinStreet by 10.2% in the fourth quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company's stock valued at $113,000 after buying an additional 730 shares during the last quarter. Tripletail Wealth Management LLC lifted its position 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 in the last quarter. Finally, FJ Capital Management LLC acquired a new position in QuinStreet during the 3rd quarter worth about $135,000. Institutional investors own 97.83% of the company's stock.

QuinStreet Stock Performance

Shares of NASDAQ:QNST opened at $20.50 on Friday. The stock has a market capitalization of $1.18 billion, a P/E ratio of 14.54 and a beta of 0.66. QuinStreet, Inc. has a 1-year low of $10.28 and a 1-year high of $22.29. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $15.67 and a two-hundred day moving average price of $13.39.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.06. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. The company had revenue of $373.88 million for the quarter, compared to the consensus estimate of $359.95 million. Equities analysts predict that QuinStreet, Inc. will post 0.94 earnings per share for the current year.

Insider Activity at QuinStreet

In other QuinStreet news, CEO Douglas Valenti sold 751,631 shares of QuinStreet stock in a transaction on Friday, August 7th. The shares were sold at an average price of $20.50, for a total transaction of $15,408,435.50. Following the completion of the sale, the chief executive officer owned 996,278 shares of the company's stock, valued at approximately $20,423,699. The trade was a 43.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Asmau Ahmed sold 10,000 shares of the company's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $20.43, for a total transaction of $204,300.00. Following the sale, the director owned 49,979 shares of the company's stock, valued at $1,021,070.97. The trade was a 16.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 825,322 shares of company stock worth $16,668,917 over the last ninety days. Company insiders own 5.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on QNST shares. B. Riley Financial restated a "buy" rating on shares of QuinStreet in a research report on Friday, August 7th. Wall Street Zen upgraded shares of QuinStreet from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Zacks Research raised shares of QuinStreet from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 30th. Lake Street Capital raised shares of QuinStreet from a "hold" rating to a "buy" rating and set a $21.00 price target for the company in a report on Friday, August 7th. Finally, Weiss Ratings raised shares of QuinStreet from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

QuinStreet 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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