QuinStreet, Inc. (NASDAQ:QNST) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 76.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,076 shares of the technology company's stock after selling 743,115 shares during the period. Millennium Management LLC owned approximately 0.41% of QuinStreet worth $5,262,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its holdings in QuinStreet by 1.4% during the 4th quarter. State of Alaska Department of Revenue now owns 31,976 shares of the technology company's stock valued at $737,000 after purchasing an additional 432 shares in the last quarter. SG Americas Securities LLC grew its holdings in QuinStreet by 1.8% during the 4th quarter. SG Americas Securities LLC now owns 26,060 shares of the technology company's stock worth $601,000 after acquiring an additional 459 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in QuinStreet by 1.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,200 shares of the technology company's stock worth $628,000 after acquiring an additional 500 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in QuinStreet by 43.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company's stock worth $88,000 after acquiring an additional 1,162 shares in the last quarter. Finally, KBC Group NV grew its holdings in QuinStreet by 64.5% during the 4th quarter. KBC Group NV now owns 3,562 shares of the technology company's stock worth $82,000 after acquiring an additional 1,396 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

QuinStreet Stock Performance

Shares of NASDAQ QNST traded down $0.11 during midday trading on Monday, hitting $15.16. The company's stock had a trading volume of 778,984 shares, compared to its average volume of 520,809. QuinStreet, Inc. has a 1-year low of $14.39 and a 1-year high of $26.27. The firm's fifty day moving average price is $16.36 and its 200-day moving average price is $19.79. The firm has a market cap of $856.07 million, a P/E ratio of -68.91 and a beta of 0.79.

QuinStreet (NASDAQ:QNST - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.06 by $0.15. QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. The business had revenue of $269.84 million during the quarter, compared to analyst estimates of $270.36 million. During the same period in the previous year, the business posted $0.06 EPS. The company's quarterly revenue was up 60.1% on a year-over-year basis. As a group, research analysts predict that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of QuinStreet from a "buy" rating to a "hold" rating in a report on Friday. Barrington Research reissued an "outperform" rating and set a $29.00 price objective on shares of QuinStreet in a report on Wednesday, April 23rd. Stephens reissued an "overweight" rating and set a $31.00 price objective on shares of QuinStreet in a report on Thursday, May 8th. B. Riley reissued a "buy" rating and set a $34.00 price objective (up from $32.00) on shares of QuinStreet in a report on Friday, February 7th. Finally, Lake Street Capital decreased their price objective on shares of QuinStreet from $27.00 to $19.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $29.00.

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.