Short Interest in QuinStreet, Inc. (NASDAQ:QNST) Rises By 27.4%

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 1,580,000 shares, an increase of 27.4% from the May 15th total of 1,240,000 shares. Approximately 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 697,500 shares, the short-interest ratio is currently 2.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in QNST. Summit Securities Group LLC acquired a new position in QuinStreet in the 1st quarter worth approximately $25,000. Arcadia Investment Management Corp MI purchased a new position in shares of QuinStreet during the fourth quarter valued at $38,000. PNC Financial Services Group Inc. grew its holdings in shares of QuinStreet by 43.9% during 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 in the last quarter. CWM LLC raised its position in QuinStreet by 326.7% during 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 during the period. Finally, Steward Partners Investment Advisory LLC purchased a new stake in QuinStreet in the 4th quarter worth about $112,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

QuinStreet Stock Performance

QuinStreet stock opened at $15.19 on Wednesday. QuinStreet has a 1 year low of $14.39 and a 1 year high of $26.27. The firm's 50 day moving average price is $16.06 and its two-hundred day moving average price is $19.26. The firm has a market cap of $857.78 million, a price-to-earnings ratio of -1,517.48 and a beta of 0.73.

QuinStreet (NASDAQ:QNST - Get Free Report) last announced its earnings results on Wednesday, May 7th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.15. QuinStreet had a positive return on equity of 1.08% and a negative net margin of 0.06%. The company had revenue of $269.84 million for the quarter, compared to analyst estimates of $270.36 million. During the same period in the previous year, the firm earned $0.06 earnings per share. QuinStreet's revenue for the quarter was up 60.1% compared to the same quarter last year. As a group, equities analysts predict that QuinStreet will post 0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on QNST shares. Stephens reaffirmed an "overweight" rating and issued a $31.00 price target on shares of QuinStreet in a research note on Thursday, May 8th. Barrington Research reaffirmed an "outperform" rating and set a $29.00 price target on shares of QuinStreet in a research note on Wednesday, April 23rd. Wall Street Zen cut QuinStreet from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Lake Street Capital cut their price objective on QuinStreet from $27.00 to $19.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.