Mackenzie Financial Corp Makes New Investment in QuinStreet, Inc. (NASDAQ:QNST)

Key Points

• Mackenzie Financial Corp has acquired a new stake in QuinStreet, Inc., purchasing 17,988 shares valued at approximately $321,000 during the first quarter.
• QuinStreet's stock has experienced a 6.2% decline, with current trading at $15.19, showing a market cap of $857.78 million and a PE ratio of 168.78.
• Analysts have mixed ratings for QuinStreet, with price targets ranging from $18.00 to $31.00, and the stock currently holds an average rating of "Moderate Buy."

Mackenzie Financial Corp bought a new position in QuinStreet, Inc. (NASDAQ:QNST - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,988 shares of the technology company's stock, valued at approximately $321,000.

Several other large investors have also made changes to their positions in QNST. Driehaus Capital Management LLC lifted its position in QuinStreet by 28.4% during the 4th quarter. Driehaus Capital Management LLC now owns 2,787,695 shares of the technology company's stock worth $64,312,000 after buying an additional 617,216 shares in the last quarter. Geode Capital Management LLC lifted its position in QuinStreet by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 1,297,160 shares of the technology company's stock worth $29,933,000 after buying an additional 26,394 shares in the last quarter. Invesco Ltd. lifted its position in QuinStreet by 177.8% during the 4th quarter. Invesco Ltd. now owns 946,108 shares of the technology company's stock worth $21,827,000 after buying an additional 605,500 shares in the last quarter. Portolan Capital Management LLC lifted its position in QuinStreet by 14.4% during the 4th quarter. Portolan Capital Management LLC now owns 917,215 shares of the technology company's stock worth $21,160,000 after buying an additional 115,522 shares in the last quarter. Finally, Next Century Growth Investors LLC lifted its position in QuinStreet by 7.8% during the 4th quarter. Next Century Growth Investors LLC now owns 819,630 shares of the technology company's stock worth $18,909,000 after buying an additional 59,572 shares in the last quarter. Institutional investors own 97.83% of the company's stock.

QuinStreet Trading Up 0.8%

Shares of NASDAQ:QNST traded up $0.12 during mid-day trading on Tuesday, reaching $14.63. The stock had a trading volume of 648,115 shares, compared to its average volume of 600,521. The firm has a market cap of $826.27 million, a PE ratio of 162.58 and a beta of 0.71. The firm has a 50 day simple moving average of $15.84 and a two-hundred day simple moving average of $17.48. QuinStreet, Inc. has a twelve month low of $14.27 and a twelve month high of $26.27.

QuinStreet (NASDAQ:QNST - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). The firm had revenue of $262.05 million during the quarter, compared to analyst estimates of $255.84 million. QuinStreet had a net margin of 0.43% and a return on equity of 4.56%. The business's revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. On average, equities analysts anticipate that QuinStreet, Inc. will post 0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on QNST shares. Lake Street Capital reduced their target price on shares of QuinStreet from $19.00 to $18.00 and set a "hold" rating on the stock in a research note on Friday. Stephens restated an "overweight" rating and issued a $31.00 price objective on shares of QuinStreet in a report on Thursday, May 8th. B. Riley cut their price objective on shares of QuinStreet from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Friday. Wall Street Zen upgraded shares of QuinStreet from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, Barrington Research restated an "outperform" rating and issued a $29.00 price objective on shares of QuinStreet in a report on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $27.00.

QuinStreet 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.