Hsbc Holdings PLC Purchases Shares of 41,960 QuinStreet, Inc. (NASDAQ:QNST)

Hsbc Holdings PLC purchased a new position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 41,960 shares of the technology company's stock, valued at approximately $984,000. Hsbc Holdings PLC owned about 0.07% of QuinStreet as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Invesco Ltd. increased 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 in the last quarter. American Century Companies Inc. increased its position in shares of QuinStreet by 9.9% in the 4th quarter. American Century Companies Inc. now owns 2,228,568 shares of the technology company's stock valued at $51,413,000 after acquiring an additional 201,052 shares during the period. Marshall Wace LLP purchased a new position in QuinStreet in the 4th quarter worth $4,174,000. SVB Wealth LLC acquired a new stake in QuinStreet during the 4th quarter worth about $3,508,000. Finally, Ranger Investment Management L.P. grew its stake in QuinStreet by 107.0% during the 4th quarter. Ranger Investment Management L.P. now owns 285,705 shares of the technology company's stock valued at $6,591,000 after purchasing an additional 147,705 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.

Insider Buying and Selling at QuinStreet

In other news, CFO Gregory Wong sold 8,516 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total transaction of $194,846.08. Following the transaction, the chief financial officer now owns 337,031 shares in the company, valued at $7,711,269.28. This trade represents a 2.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Douglas Valenti sold 10,000 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total transaction of $250,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,836,754 shares of the company's stock, valued at approximately $45,955,585.08. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.

QuinStreet Price Performance

QNST opened at $18.96 on Friday. The firm has a fifty day moving average price of $17.38 and a 200 day moving average price of $20.43. QuinStreet, Inc. has a 1 year low of $14.39 and a 1 year high of $26.27. The stock has a market cap of $1.07 billion, a P/E ratio of -86.18 and a beta of 0.79.

QuinStreet (NASDAQ:QNST - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The technology company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. Equities analysts expect that QuinStreet, Inc. will post 0.12 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on QNST shares. Barrington Research restated an "outperform" rating and issued a $29.00 price objective on shares of QuinStreet in a research note on Wednesday, April 23rd. B. Riley restated a "buy" rating and set a $34.00 price objective (up from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. StockNews.com upgraded shares of QuinStreet from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Lake Street Capital boosted their target price on shares of QuinStreet from $25.00 to $27.00 and gave the company a "hold" rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.80.

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.

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