Equitable Trust Co. Reduces Stock Holdings in 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 stake in QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,000 shares of the technology company's stock after selling 20,560 shares during the period. Equitable Trust Co. owned approximately 0.16% of QuinStreet worth $1,588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CWM LLC increased its stake in QuinStreet by 326.7% during the first quarter. CWM LLC now owns 6,144 shares of the technology company's stock worth $110,000 after purchasing an additional 4,704 shares during the period. Pictet Asset Management Holding SA purchased a new stake in QuinStreet during the fourth quarter worth about $203,000. Signaturefd LLC increased its stake in QuinStreet by 81,292.9% during the first quarter. Signaturefd LLC now owns 11,395 shares of the technology company's stock worth $203,000 after purchasing an additional 11,381 shares during the period. Aquatic Capital Management LLC purchased a new stake in QuinStreet during the fourth quarter worth about $213,000. Finally, XTX Topco Ltd purchased a new stake in QuinStreet during the fourth quarter worth about $237,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

QuinStreet Stock Down 2.7%

QNST traded down $0.46 on Tuesday, reaching $16.20. The company's stock had a trading volume of 182,791 shares, compared to its average volume of 598,420. The stock has a 50 day moving average of $15.67 and a two-hundred day moving average of $17.89. The company has a market capitalization of $914.53 million, a price-to-earnings ratio of -1,616.88 and a beta of 0.74. QuinStreet, Inc. has a fifty-two week low of $14.39 and a fifty-two week high of $26.27.

QuinStreet (NASDAQ:QNST - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.15. The business had revenue of $269.84 million during the quarter, compared to the consensus estimate of $270.36 million. QuinStreet had a positive return on equity of 1.08% and a negative net margin of 0.06%. The company's revenue was up 60.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. As a group, analysts anticipate that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Lake Street Capital lowered their price objective on QuinStreet from $27.00 to $19.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. Wall Street Zen raised QuinStreet from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Stephens reissued an "overweight" rating and set a $31.00 price objective on shares of QuinStreet in a research report on Thursday, May 8th. Finally, Barrington Research reissued an "outperform" rating and set a $29.00 price objective on shares of QuinStreet in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.