NewEdge Wealth LLC Reduces Position in QuinStreet, Inc. (NASDAQ:QNST)

NewEdge Wealth LLC trimmed its stake in QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,606,139 shares of the technology company's stock after selling 148,202 shares during the quarter. QuinStreet makes up 0.9% of NewEdge Wealth LLC's portfolio, making the stock its 25th biggest holding. NewEdge Wealth LLC owned approximately 4.77% of QuinStreet worth $33,411,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in QNST. JPMorgan Chase & Co. increased its position in QuinStreet by 9.4% during the 1st quarter. JPMorgan Chase & Co. now owns 644,508 shares of the technology company's stock worth $7,476,000 after purchasing an additional 55,500 shares in the last quarter. Citigroup Inc. grew its holdings in shares of QuinStreet by 11.6% during the first quarter. Citigroup Inc. now owns 43,211 shares of the technology company's stock worth $501,000 after buying an additional 4,502 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of QuinStreet by 54.9% in the first quarter. MetLife Investment Management LLC now owns 28,152 shares of the technology company's stock valued at $327,000 after buying an additional 9,979 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of QuinStreet by 6.5% during the first quarter. Rhumbline Advisers now owns 128,656 shares of the technology company's stock valued at $1,492,000 after buying an additional 7,846 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in QuinStreet by 14.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 43,268 shares of the technology company's stock worth $502,000 after acquiring an additional 5,551 shares during the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on QNST shares. Stephens boosted their price target on QuinStreet from $17.00 to $18.00 and gave the company an "overweight" rating in a report on Friday, March 15th. Barrington Research restated an "outperform" rating and issued a $16.00 price target on shares of QuinStreet in a report on Thursday, February 8th. Finally, StockNews.com upgraded shares of QuinStreet to a "sell" rating in a report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, QuinStreet currently has a consensus rating of "Hold" and a consensus target price of $15.75.

QuinStreet Trading Down 1.2 %

NASDAQ:QNST traded down $0.21 on Friday, hitting $17.23. 233,827 shares of the stock were exchanged, compared to its average volume of 386,160. The stock has a fifty day moving average of $15.74 and a 200-day moving average of $12.92. The stock has a market cap of $945.75 million, a PE ratio of -12.11 and a beta of 1.14. QuinStreet, Inc. has a fifty-two week low of $6.79 and a fifty-two week high of $17.76.

QuinStreet (NASDAQ:QNST - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.05). QuinStreet had a negative net margin of 14.28% and a negative return on equity of 32.98%. The business had revenue of $122.68 million for the quarter, compared to analyst estimates of $116.46 million. As a group, analysts predict that QuinStreet, Inc. will post -0.41 earnings per share for the current year.

Insider Activity at QuinStreet

In other news, CFO Gregory Wong sold 8,407 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $15.03, for a total transaction of $126,357.21. Following the transaction, the chief financial officer now owns 295,204 shares of the company's stock, valued at $4,436,916.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.30% of the stock is currently owned by corporate insiders.

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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