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

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

Other institutional investors have also modified their holdings of the company. Driehaus Capital Management LLC grew its position in QuinStreet by 28.4% during 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 last quarter. Invesco Ltd. boosted its stake in shares of QuinStreet by 177.8% during the fourth quarter. Invesco Ltd. now owns 946,108 shares of the technology company's stock worth $21,827,000 after buying an additional 605,500 shares during the period. G2 Investment Partners Management LLC acquired a new stake in shares of QuinStreet during the fourth quarter worth about $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 worth $7,677,000 after buying an additional 280,554 shares during the last quarter. Finally, Oberweis Asset Management Inc. acquired a new position in QuinStreet in the 4th quarter valued at about $5,191,000. 97.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

QuinStreet Price Performance

QuinStreet stock traded up $0.40 during trading hours on Tuesday, hitting $15.56. The stock had a trading volume of 870,793 shares, compared to its average volume of 522,207. QuinStreet, Inc. has a 1-year low of $14.39 and a 1-year high of $26.27. The stock has a market capitalization of $878.66 million, a price-to-earnings ratio of -70.73 and a beta of 0.79. The stock's fifty day moving average is $16.29 and its two-hundred day moving average is $19.75.

QuinStreet (NASDAQ:QNST - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.21 earnings per share (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 company had revenue of $269.84 million for the quarter, compared to the consensus estimate of $270.36 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The company's revenue for the quarter was up 60.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that QuinStreet, Inc. will post 0.12 EPS for the current 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.