New York State Common Retirement Fund Sells 41,189 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Key Points

• The New York State Common Retirement Fund reduced its stake in QuinStreet, Inc. by 74.0%, selling 41,189 shares during the first quarter, leaving it with 14,446 shares valued at $258,000.
• Equities research analysts have mixed sentiments about QuinStreet, with ratings ranging from a "hold" to "buy," and a consensus price target of $29.00.
• QuinStreet reported a positive EPS of $0.21 in its latest quarterly results, exceeding analyst expectations, while its revenue saw a 60.1% increase year-over-year.

New York State Common Retirement Fund decreased its position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 74.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,446 shares of the technology company's stock after selling 41,189 shares during the quarter. New York State Common Retirement Fund's holdings in QuinStreet were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Driehaus Capital Management LLC lifted its stake in shares of QuinStreet by 28.4% during the fourth quarter. Driehaus Capital Management LLC now owns 2,787,695 shares of the technology company's stock valued at $64,312,000 after acquiring an additional 617,216 shares during the period. Invesco Ltd. raised its holdings 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 purchasing an additional 605,500 shares during the last quarter. G2 Investment Partners Management LLC bought a new stake in QuinStreet during the 4th quarter worth about $7,203,000. BNP Paribas Financial Markets lifted its position in QuinStreet by 537.4% during the 4th quarter. BNP Paribas Financial Markets now owns 332,763 shares of the technology company's stock valued at $7,677,000 after purchasing an additional 280,554 shares during the period. Finally, Oberweis Asset Management Inc. bought a new position in shares of QuinStreet in the 4th quarter valued at about $5,191,000. 97.83% of the stock is currently owned by institutional investors.

QuinStreet Stock Up 0.7%

Shares of NASDAQ QNST opened at $16.62 on Friday. QuinStreet, Inc. has a twelve month low of $14.39 and a twelve month high of $26.27. The stock has a market cap of $938.53 million, a price-to-earnings ratio of -1,660.34 and a beta of 0.74. The company's fifty day moving average is $15.64 and its 200-day moving average is $17.95.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.15. The company had revenue of $269.84 million for the quarter, compared to analyst estimates of $270.36 million. QuinStreet had a positive return on equity of 1.08% and a negative net margin of 0.06%. QuinStreet's revenue was up 60.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. On average, research analysts anticipate that QuinStreet, Inc. will post 0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on QNST shares. Stephens reissued an "overweight" rating and set a $31.00 price target on shares of QuinStreet in a research note on Thursday, May 8th. Lake Street Capital lowered their target price 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. Barrington Research reissued an "outperform" rating and issued a $29.00 price target on shares of QuinStreet in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded QuinStreet from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.