Assenagon Asset Management S.A. Grows Stake in QuinStreet, Inc. $QNST

Key Points

• Assenagon Asset Management increased its stake in QuinStreet by 43.7% to 1,633,251 shares, representing about a 2.88% ownership worth roughly $23.47 million.
• QuinStreet beat Q4 estimates with $0.24 EPS (vs. $0.21) and $287.85M revenue (vs. $275.07M); analysts have a "Moderate Buy" consensus with a $22.60 average target while the stock trades near $12.30 (P/E 11.28).

Assenagon Asset Management S.A. boosted its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 43.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,633,251 shares of the technology company's stock after purchasing an additional 496,492 shares during the quarter. Assenagon Asset Management S.A. owned about 2.88% of QuinStreet worth $23,470,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tripletail Wealth Management LLC bought a new stake in shares of QuinStreet during the third quarter valued at approximately $105,000. FJ Capital Management LLC bought a new position in shares of QuinStreet during the third quarter worth $135,000. Cerity Partners LLC purchased a new position in QuinStreet during the second quarter valued at $170,000. Amundi purchased a new position in QuinStreet during the third quarter valued at $166,000. Finally, Lazard Asset Management LLC increased its holdings in QuinStreet by 225.4% in the 2nd quarter. Lazard Asset Management LLC now owns 12,008 shares of the technology company's stock valued at $193,000 after acquiring an additional 8,318 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings upgraded shares of QuinStreet from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, February 9th. Northland Securities assumed coverage on QuinStreet in a report on Tuesday, March 17th. They issued an "outperform" rating and a $17.00 target price on the stock. Lake Street Capital set a $15.00 target price on QuinStreet in a research report on Friday, February 6th. Barrington Research reissued an "outperform" rating and set a $24.00 price target on shares of QuinStreet in a research note on Friday, February 6th. Finally, B. Riley Financial raised their price target on QuinStreet from $25.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.60.

QuinStreet Stock Up 3.2%

Shares of NASDAQ:QNST opened at $12.30 on Thursday. The firm has a fifty day simple moving average of $12.34 and a two-hundred day simple moving average of $13.94. QuinStreet, Inc. has a 52 week low of $10.28 and a 52 week high of $19.49. The stock has a market capitalization of $700.98 million, a P/E ratio of 11.28 and a beta of 0.70.

QuinStreet (NASDAQ:QNST - Get Free Report) last announced its earnings results on Thursday, February 5th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. The firm had revenue of $287.85 million for the quarter, compared to analysts' expectations of $275.07 million. QuinStreet had a net margin of 5.64% and a return on equity of 9.55%. The business's revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 EPS. On average, analysts expect that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

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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