Short Interest in QuinStreet, Inc. (NASDAQ:QNST) Decreases By 56.5%

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report) was the target of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 1,240,000 shares, a decrease of 56.5% from the April 30th total of 2,850,000 shares. Based on an average daily volume of 700,000 shares, the days-to-cover ratio is presently 1.8 days. Currently, 2.3% of the company's shares are sold short.

Institutional Trading of QuinStreet

Hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of QuinStreet in the 1st quarter valued at approximately $25,000. Arcadia Investment Management Corp MI acquired a new position in shares of QuinStreet during the fourth quarter worth $38,000. KBC Group NV increased its holdings in QuinStreet by 64.5% in the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company's stock valued at $82,000 after buying an additional 1,396 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in QuinStreet by 43.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company's stock valued at $88,000 after buying an additional 1,162 shares during the last quarter. Finally, CWM LLC raised its stake in QuinStreet by 326.7% in the first quarter. CWM LLC now owns 6,144 shares of the technology company's stock valued at $110,000 after buying an additional 4,704 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.

QuinStreet Trading Up 2.6%

NASDAQ:QNST traded up $0.40 during midday trading on Tuesday, reaching $15.56. The company had a trading volume of 870,793 shares, compared to its average volume of 522,709. QuinStreet has a 12-month low of $14.39 and a 12-month high of $26.27. The firm has a market capitalization of $878.66 million, a price-to-earnings ratio of -70.73 and a beta of 0.79. The stock's fifty day simple moving average is $16.23 and its 200-day simple moving average is $19.72.

QuinStreet (NASDAQ:QNST - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.15. QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. The company had revenue of $269.84 million for the quarter, compared to analyst estimates of $270.36 million. During the same quarter last year, the company earned $0.06 EPS. QuinStreet's revenue for the quarter was up 60.1% compared to the same quarter last year. As a group, sell-side analysts expect that QuinStreet will post 0.12 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on QNST shares. B. Riley reaffirmed a "buy" rating and issued a $34.00 target price (up previously from $32.00) on shares of QuinStreet in a research report on Friday, February 7th. Lake Street Capital decreased their price objective on shares of QuinStreet from $27.00 to $19.00 and set a "hold" rating on the stock in a report on Thursday, May 8th. Barrington Research reaffirmed an "outperform" rating and issued a $29.00 price objective on shares of QuinStreet in a research note on Wednesday, April 23rd. Stephens reiterated an "overweight" rating and set a $31.00 price target on shares of QuinStreet in a research note on Thursday, May 8th. Finally, Wall Street Zen cut shares of QuinStreet from a "buy" rating to a "hold" rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, QuinStreet has an average rating of "Moderate Buy" and a consensus price target of $29.00.

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.