Mackenzie Financial Corp Buys Shares of 17,988 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 stake in QuinStreet, Inc. (NASDAQ:QNST - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 17,988 shares of the technology company's stock, valued at approximately $321,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in QuinStreet by 11.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,881 shares of the technology company's stock valued at $337,000 after acquiring an additional 1,966 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of QuinStreet in the first quarter valued at approximately $184,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of QuinStreet by 14.7% in 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 buying an additional 25,202 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in shares of QuinStreet in the first quarter valued at approximately $1,458,000. Finally, Signaturefd LLC boosted its stake in shares of QuinStreet by 81,292.9% in the first quarter. Signaturefd LLC now owns 11,395 shares of the technology company's stock valued at $203,000 after buying an additional 11,381 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

QuinStreet Price Performance

Shares of NASDAQ QNST traded up $0.64 during midday trading on Wednesday, hitting $15.26. 208,236 shares of the company's stock were exchanged, compared to its average volume of 600,720. The stock's 50 day moving average price is $15.82 and its 200-day moving average price is $17.46. The firm has a market cap of $861.72 million, a P/E ratio of 169.48 and a beta of 0.71. 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 posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $262.05 million during the quarter, compared to the consensus estimate of $255.84 million. QuinStreet had a net margin of 0.43% and a return on equity of 4.56%. QuinStreet's quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 EPS. On average, analysts expect that QuinStreet, Inc. will post 0.12 EPS for the current fiscal year.

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.