G2 Investment Partners Management LLC purchased a new stake in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 312,216 shares of the technology company's stock, valued at approximately $7,203,000. QuinStreet comprises about 1.9% of G2 Investment Partners Management LLC's holdings, making the stock its 22nd biggest position. G2 Investment Partners Management LLC owned about 0.55% of QuinStreet at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of QNST. Arcadia Investment Management Corp MI purchased a new position in shares of QuinStreet in the fourth quarter worth $38,000. KBC Group NV increased its position in shares of QuinStreet by 64.5% in the 4th quarter. KBC Group NV now owns 3,562 shares of the technology company's stock valued at $82,000 after acquiring an additional 1,396 shares during the period. PNC Financial Services Group Inc. increased its position in shares of QuinStreet by 43.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company's stock valued at $88,000 after acquiring an additional 1,162 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in QuinStreet in the 4th quarter worth $112,000. Finally, BankPlus Trust Department acquired a new stake in QuinStreet during the 4th quarter worth about $198,000. 97.83% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
QNST has been the topic of a number of recent research reports. Stephens reiterated an "overweight" rating and issued a $31.00 target price on shares of QuinStreet in a research report on Thursday, May 8th. 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. B. Riley reissued a "buy" rating and set a $34.00 target price (up previously from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Barrington Research reissued an "outperform" rating and issued a $29.00 price objective on shares of QuinStreet in a research note on Wednesday, April 23rd. Finally, StockNews.com upgraded QuinStreet from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $29.00.
View Our Latest Research Report on QuinStreet
QuinStreet Trading Down 2.9%
QuinStreet stock traded down $0.47 during midday trading on Wednesday, hitting $15.91. 290,968 shares of the stock were exchanged, compared to its average volume of 500,884. The stock's 50-day simple moving average is $17.06 and its 200 day simple moving average is $20.33. QuinStreet, Inc. has a fifty-two week low of $14.39 and a fifty-two week high of $26.27. The stock has a market capitalization of $898.42 million, a price-to-earnings ratio of -72.32 and a beta of 0.79.
QuinStreet (NASDAQ:QNST - Get Free Report) last posted its quarterly earnings data 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 net margin of 1.31% and a negative return on equity of 4.13%. The firm had revenue of $269.84 million during the quarter, compared to analysts' expectations of $270.36 million. During the same quarter last year, the company posted $0.06 EPS. The firm's quarterly revenue was up 60.1% on a year-over-year basis. Equities analysts anticipate that QuinStreet, Inc. will post 0.12 EPS for the current fiscal year.
Insider Transactions at QuinStreet
In other QuinStreet news, CFO Gregory Wong sold 8,516 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $22.88, for a total transaction of $194,846.08. Following the sale, the chief financial officer now directly owns 337,031 shares in the company, valued at $7,711,269.28. This represents a 2.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.00% of the company's stock.
About QuinStreet
(
Free Report)
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.
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