Equitable Trust Co. Sells 20,560 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Key Points

• Equitable Trust Co. reduced its stake in QuinStreet, Inc. by 18.8%, selling 20,560 shares and bringing its total ownership to about 89,000 shares valued at $1,588,000.
• Multiple investment firms have significantly increased their holdings in QuinStreet, with CWM LLC raising its stake by 326.7% during the first quarter.
• Analysts' ratings for QuinStreet remain generally positive, with an average rating of "Moderate Buy" and a consensus price target of $29.00.

Equitable Trust Co. reduced its position in QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,000 shares of the technology company's stock after selling 20,560 shares during the period. Equitable Trust Co. owned about 0.16% of QuinStreet worth $1,588,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH grew its position in QuinStreet by 14.7% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 196,481 shares of the technology company's stock valued at $3,505,000 after purchasing an additional 25,202 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in QuinStreet during the first quarter valued at approximately $1,458,000. Signaturefd LLC grew its position in QuinStreet by 81,292.9% during the first quarter. Signaturefd LLC now owns 11,395 shares of the technology company's stock valued at $203,000 after purchasing an additional 11,381 shares in the last quarter. CWM LLC grew its position in QuinStreet by 326.7% during the first quarter. CWM LLC now owns 6,144 shares of the technology company's stock valued at $110,000 after purchasing an additional 4,704 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in QuinStreet by 2.7% during the first quarter. Principal Financial Group Inc. now owns 281,756 shares of the technology company's stock valued at $5,027,000 after purchasing an additional 7,511 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

QuinStreet Trading Up 1.2%

Shares of NASDAQ:QNST traded up $0.20 during trading on Wednesday, hitting $16.40. 68,377 shares of the company's stock were exchanged, compared to its average volume of 595,971. QuinStreet, Inc. has a 1-year low of $14.39 and a 1-year high of $26.27. The firm has a 50-day moving average price of $15.68 and a two-hundred day moving average price of $17.88. The firm has a market cap of $926.11 million, a P/E ratio of -1,640.26 and a beta of 0.74.

QuinStreet (NASDAQ:QNST - Get Free Report) last announced 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. The business had revenue of $269.84 million for the quarter, compared to the consensus estimate of $270.36 million. QuinStreet had a negative net margin of 0.06% and a positive return on equity of 1.08%. QuinStreet's revenue for the quarter was up 60.1% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS. As a group, research analysts predict that QuinStreet, Inc. will post 0.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of QuinStreet from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Lake Street Capital cut their target price on shares of QuinStreet from $27.00 to $19.00 and set a "hold" rating for the company in a research note on Thursday, May 8th. Stephens restated an "overweight" rating and issued a $31.00 price objective on shares of QuinStreet in a research note on Thursday, May 8th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $29.00 target price on shares of QuinStreet in a report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus 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.