Summit Global Investments Takes $476,000 Position in QuinStreet, Inc. (NASDAQ:QNST)

Summit Global Investments bought a new stake in QuinStreet, Inc. (NASDAQ:QNST - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 26,678 shares of the technology company's stock, valued at approximately $476,000.

Several other hedge funds also recently made changes to their positions in the business. Arcadia Investment Management Corp MI bought a new position in shares of QuinStreet in the 4th quarter valued at about $38,000. KBC Group NV grew its stake in QuinStreet by 64.5% in the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company's stock valued at $82,000 after purchasing an additional 1,396 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of 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 purchasing an additional 1,162 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of QuinStreet during the 4th quarter worth approximately $112,000. Finally, BankPlus Trust Department acquired a new stake in shares of QuinStreet in the 4th quarter valued at approximately $198,000. 97.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

QNST has been the subject of a number of recent analyst reports. Barrington Research reiterated an "outperform" rating and issued a $29.00 price target on shares of QuinStreet in a research note on Wednesday, April 23rd. Lake Street Capital lowered their price target on QuinStreet from $27.00 to $19.00 and set a "hold" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen lowered QuinStreet from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Stephens reiterated an "overweight" rating and set a $31.00 target price on shares of QuinStreet in a research note on Thursday, May 8th. Finally, B. Riley restated a "buy" rating and issued a $34.00 price target (up previously from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.00.

QuinStreet Stock Performance

Shares of NASDAQ QNST traded up $0.06 during trading hours on Thursday, reaching $15.60. 356,363 shares of the stock were exchanged, compared to its average volume of 524,274. The stock's fifty day simple moving average is $16.14 and its 200 day simple moving average is $19.66. The firm has a market capitalization of $880.92 million, a price-to-earnings ratio of -70.91 and a beta of 0.79. QuinStreet, Inc. has a 52 week low of $14.39 and a 52 week high of $26.27.

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

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.