Royce & Associates LP Has $23.33 Million Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Key Points

• Royce & Associates LP has reduced its stake in QuinStreet, Inc. by 9.6%, now holding approximately 1.31 million shares valued at $23.33 million.
• Several institutional investors have shifted their positions in QuinStreet, with CWM LLC increasing its shares by 326.7% during the first quarter.
• QuinStreet reported earnings of $0.21 per share for the last quarter, exceeding analyst expectations, with a revenue increase of 60.1% year over year.

Royce & Associates LP trimmed its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 9.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,307,805 shares of the technology company's stock after selling 138,560 shares during the period. Royce & Associates LP owned about 2.32% of QuinStreet worth $23,331,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in QNST. Driehaus Capital Management LLC boosted its stake in QuinStreet by 28.4% in the 4th quarter. Driehaus Capital Management LLC now owns 2,787,695 shares of the technology company's stock worth $64,312,000 after purchasing an additional 617,216 shares during the period. Invesco Ltd. raised its stake in QuinStreet by 177.8% during the 4th quarter. Invesco Ltd. now owns 946,108 shares of the technology company's stock valued at $21,827,000 after purchasing an additional 605,500 shares during the period. G2 Investment Partners Management LLC acquired a new stake in shares of QuinStreet in the fourth quarter worth $7,203,000. BNP Paribas Financial Markets grew its holdings in shares of QuinStreet by 537.4% during the fourth quarter. BNP Paribas Financial Markets now owns 332,763 shares of the technology company's stock valued at $7,677,000 after buying an additional 280,554 shares in the last quarter. Finally, Oberweis Asset Management Inc. purchased a new position in shares of QuinStreet during the fourth quarter valued at $5,191,000. 97.83% of the stock is currently owned by institutional investors.

QuinStreet Stock Up 0.2%

Shares of NASDAQ:QNST traded up $0.04 during trading on Monday, reaching $16.66. 80,683 shares of the company traded hands, compared to its average volume of 599,128. The firm has a fifty day simple moving average of $15.64 and a 200 day simple moving average of $17.92. The firm has a market cap of $940.66 million, a P/E ratio of -1,669.83 and a beta of 0.74. QuinStreet, Inc. has a 1-year low of $14.39 and a 1-year high of $26.27.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on QNST shares. Wall Street Zen upgraded QuinStreet from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Barrington Research reiterated an "outperform" rating and set a $29.00 price target on shares of QuinStreet in a report on Wednesday, April 23rd. Stephens reiterated an "overweight" rating and set a $31.00 price target on shares of QuinStreet in a report on Thursday, May 8th. Finally, Lake Street Capital decreased their target price on shares of QuinStreet from $27.00 to $19.00 and set a "hold" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, QuinStreet presently has an average rating of "Moderate Buy" and a consensus target price of $29.00.

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.