QuinStreet (NASDAQ:QNST) Director Asmau Ahmed Sells 5,000 Shares

Key Points

• Director Asmau Ahmed sold 5,000 QuinStreet shares at an average price of $20.79, generating $103,950 and reducing her direct ownership by 7.69% to 59,979 shares. She also sold an additional 10,000 shares the following day for $204,300.
• QuinStreet exceeded quarterly expectations, reporting $0.50 in EPS versus the $0.44 consensus and revenue of $373.88 million versus the $359.95 million estimate.
• The stock traded near $20.74, while analysts maintained a “Moderate Buy” consensus with an average price target of $22.00; institutional investors own 97.83% of the company.

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report) Director Asmau Ahmed sold 5,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $20.79, for a total value of $103,950.00. Following the sale, the director directly owned 59,979 shares in the company, valued at approximately $1,246,963.41. This trade represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Asmau Ahmed also recently made the following trade(s):

• On Wednesday, August 12th, Asmau Ahmed sold 10,000 shares of QuinStreet stock. The shares were sold at an average price of $20.43, for a total value of $204,300.00.

QuinStreet Price Performance

QNST traded down $0.05 on Thursday, hitting $20.74. 795,008 shares of the stock were exchanged, compared to its average volume of 836,112. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 14.71 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 1.18. QuinStreet, Inc. has a 12 month low of $10.28 and a 12 month high of $22.29. The business has a 50-day moving average of $15.32 and a two-hundred day moving average of $13.29.

QuinStreet (NASDAQ:QNST - Get Free Report) last issued its earnings results on Thursday, August 6th. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. The company had revenue of $373.88 million during the quarter, compared to analysts' expectations of $359.95 million. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. Sell-side analysts forecast that QuinStreet, Inc. will post 0.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on QNST. Zacks Research raised QuinStreet from a "strong sell" rating to a "hold" rating in a report on Thursday, July 30th. Wall Street Zen raised QuinStreet from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Lake Street Capital upgraded QuinStreet from a "hold" rating to a "buy" rating and set a $21.00 price objective for the company in a research report on Friday, August 7th. B. Riley Financial reaffirmed a "buy" rating on shares of QuinStreet in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded QuinStreet from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.00.

Institutional Trading of QuinStreet

A number of hedge funds have recently added to or reduced their stakes in QNST. BlackRock Inc. bought a new stake in shares of QuinStreet during the second quarter worth $160,805,000. Lazard Asset Management LLC lifted its stake in shares of QuinStreet by 619.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,441,113 shares of the technology company's stock valued at $17,308,000 after acquiring an additional 1,240,667 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of QuinStreet by 1,000.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 900,264 shares of the technology company's stock valued at $12,937,000 after acquiring an additional 1,000,264 shares in the last quarter. NewEdge Wealth LLC acquired a new stake in shares of QuinStreet during the 2nd quarter valued at $12,157,000. Finally, Heartland Advisors Inc. bought a new stake in QuinStreet during the 2nd quarter worth $8,790,000. Institutional investors and hedge funds own 97.83% of the company's stock.

About QuinStreet

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source