Pinnacle Wealth Management LLC Acquires New Stake in QuinStreet, Inc. $QNST

Key Points

• Pinnacle Wealth Management LLC has acquired a new stake in QuinStreet, Inc., purchasing 29,976 shares valued at approximately $535,000.
• QuinStreet reported $262.05 million in revenue for the last quarter, missing earnings per share estimates but showing a 32.1% increase in revenue year-over-year.
• Analysts maintain a consensus rating of "Moderate Buy" for QuinStreet with an average target price of $27.00, with several firms recently adjusting their price objectives.

Pinnacle Wealth Management LLC acquired a new stake in QuinStreet, Inc. (NASDAQ:QNST - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 29,976 shares of the technology company's stock, valued at approximately $535,000. Pinnacle Wealth Management LLC owned 0.05% of QuinStreet at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of QNST. Wells Fargo & Company MN raised its holdings in shares of QuinStreet by 168.1% in the 4th quarter. Wells Fargo & Company MN now owns 48,156 shares of the technology company's stock valued at $1,111,000 after buying an additional 30,191 shares during the period. Renaissance Technologies LLC acquired a new stake in QuinStreet in the 4th quarter valued at about $1,610,000. Barclays PLC grew its holdings in QuinStreet by 21.0% during the 4th quarter. Barclays PLC now owns 154,189 shares of the technology company's stock worth $3,557,000 after acquiring an additional 26,785 shares in the last quarter. XTX Topco Ltd acquired a new position in QuinStreet during the 4th quarter worth approximately $237,000. Finally, Jump Financial LLC acquired a new position in QuinStreet during the 4th quarter worth approximately $965,000. Hedge funds and other institutional investors own 97.83% of the company's stock.

QuinStreet Price Performance

QNST stock opened at $14.74 on Monday. QuinStreet, Inc. has a 12 month low of $14.27 and a 12 month high of $26.27. The company has a fifty day moving average price of $15.78 and a 200 day moving average price of $17.22. The company has a market cap of $832.37 million, a price-to-earnings ratio of 163.78 and a beta of 0.71.

QuinStreet (NASDAQ:QNST - Get Free Report) last posted its quarterly earnings data 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). QuinStreet had a return on equity of 4.56% and a net margin of 0.43%. The company had revenue of $262.05 million for the quarter, compared to analyst estimates of $255.84 million. During the same period in the previous year, the business posted $0.11 earnings per share. The firm's revenue was up 32.1% compared to the same quarter last year. As a group, analysts anticipate that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on QNST. Barrington Research reiterated an "outperform" rating and set a $29.00 price target on shares of QuinStreet in a report on Friday, August 8th. B. Riley lowered their price objective on QuinStreet from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Lake Street Capital lowered their price objective on QuinStreet from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Friday, August 8th. Stephens reaffirmed an "overweight" rating and set a $31.00 price objective on shares of QuinStreet in a research report on Thursday, May 8th. Finally, Wall Street Zen raised QuinStreet from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, QuinStreet has a consensus rating of "Moderate Buy" and an average target price of $27.00.

About QuinStreet

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.

Want to see what other hedge funds are holding QNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QuinStreet, Inc. (NASDAQ:QNST - Free Report).

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.