Algert Global LLC Buys 246,356 Shares of QuinStreet, Inc. $QNST

Key Points

• Algert Global nearly doubled its QuinStreet stake in the second quarter, purchasing 246,356 additional shares to own 500,476 shares valued at approximately $7.3 million. Institutional investors collectively hold 97.83% of the company.
• QuinStreet exceeded quarterly expectations, reporting $0.50 EPS versus the $0.44 consensus and revenue of $373.88 million compared with estimates of $359.95 million. Shares opened at $19.68, near the analysts’ consensus price target of $22.00.
• Analyst sentiment improved to a “Moderate Buy”, with four Buy ratings and two Holds. However, insiders sold 862,026 shares worth about $17.4 million over the past 90 days, including a large CEO sale conducted under a Rule 10b5-1 plan to cover tax obligations.

Algert Global LLC lifted its position in QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 96.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,476 shares of the technology company's stock after purchasing an additional 246,356 shares during the quarter. Algert Global LLC owned 0.87% of QuinStreet worth $7,332,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake 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 valued at $36,000 after buying an additional 1,066 shares during the period. GAMMA Investing LLC boosted its stake in QuinStreet by 17.0% during the second quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company's stock worth $65,000 after acquiring an additional 649 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of QuinStreet in the 2nd quarter worth approximately $66,000. Farther Finance Advisors LLC increased its holdings in shares of QuinStreet by 10.2% during the fourth quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company's stock valued at $113,000 after acquiring an additional 730 shares in the last quarter. Finally, FJ Capital Management LLC bought a new stake in QuinStreet during the 3rd quarter valued at about $135,000. Hedge funds and other institutional investors own 97.83% of the company's stock.

QuinStreet Stock Performance

Shares of NASDAQ QNST opened at $19.68 on Thursday. QuinStreet, Inc. has a 12-month low of $10.28 and a 12-month high of $22.29. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 13.96 and a beta of 0.66. 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 firm has a 50 day moving average of $16.95 and a 200 day moving average of $13.81.

QuinStreet (NASDAQ:QNST - Get Free Report) last announced its quarterly earnings data 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 return on equity of 12.73% and a net margin of 6.28%.The company had revenue of $373.88 million during the quarter, compared to the consensus estimate of $359.95 million. On average, research analysts anticipate that QuinStreet, Inc. will post 1.06 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at QuinStreet

In related news, Director Asmau Ahmed sold 15,000 shares of the firm's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $20.85, for a total value of $312,750.00. Following the completion of the transaction, the director directly owned 34,979 shares of the company's stock, valued at approximately $729,312.15. This trade represents a 30.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas Valenti sold 751,631 shares of QuinStreet stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $20.50, for a total value of $15,408,435.50. Following the completion of the transaction, the chief executive officer owned 996,278 shares of the company's stock, valued at approximately $20,423,699. This trade represents a 43.00% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold 862,026 shares of company stock valued at $17,423,897 in the last 90 days. Insiders own 5.00% of the company's stock.

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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