Renaissance Technologies LLC Acquires New Shares in QuinStreet, Inc. (NASDAQ:QNST)

Renaissance Technologies LLC bought a new position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 69,800 shares of the technology company's stock, valued at approximately $1,610,000. Renaissance Technologies LLC owned 0.12% of QuinStreet at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of QNST. Barclays PLC increased its holdings in shares of QuinStreet by 149.7% during the 3rd quarter. Barclays PLC now owns 127,404 shares of the technology company's stock worth $2,436,000 after purchasing an additional 76,389 shares during the period. JPMorgan Chase & Co. grew its position in QuinStreet by 39.7% during the third quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company's stock worth $8,601,000 after buying an additional 127,689 shares in the last quarter. Kings Path Partners LLC increased its stake in QuinStreet by 111.6% during the fourth quarter. Kings Path Partners LLC now owns 28,700 shares of the technology company's stock valued at $662,000 after acquiring an additional 15,138 shares during the period. SG Americas Securities LLC lifted its position in shares of QuinStreet by 1.8% in the 4th quarter. SG Americas Securities LLC now owns 26,060 shares of the technology company's stock worth $601,000 after acquiring an additional 459 shares during the period. Finally, KBC Group NV grew its holdings in shares of QuinStreet by 64.5% during the 4th quarter. KBC Group NV now owns 3,562 shares of the technology company's stock worth $82,000 after purchasing an additional 1,396 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on QNST shares. StockNews.com upgraded QuinStreet from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Lake Street Capital raised their price objective on shares of QuinStreet from $25.00 to $27.00 and gave the stock a "hold" rating in a report on Friday, February 7th. B. Riley reissued 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 reaffirmed an "outperform" rating and set a $29.00 price objective on shares of QuinStreet in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.80.

Insiders Place Their Bets

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

QuinStreet Stock Performance

Shares of NASDAQ QNST traded up $1.13 during mid-day trading on Thursday, hitting $18.65. 554,719 shares of the stock were exchanged, compared to its average volume of 473,263. QuinStreet, Inc. has a twelve month low of $14.39 and a twelve month high of $26.27. The stock's fifty day simple moving average is $17.42 and its two-hundred day simple moving average is $20.43. The company has a market cap of $1.05 billion, a P/E ratio of -84.95 and a beta of 0.91.

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 (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. As a group, equities research analysts predict that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

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.