First Eagle Investment Management LLC Grows Stock Position in QuinStreet, Inc. (NASDAQ:QNST)

First Eagle Investment Management LLC raised its stake in shares of QuinStreet, Inc. (NASDAQ:QNST) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 681,023 shares of the technology company’s stock after acquiring an additional 38,500 shares during the period. First Eagle Investment Management LLC’s holdings in QuinStreet were worth $15,711,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of QNST. US Bancorp DE raised its stake in shares of QuinStreet by 880.3% during the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock valued at $27,000 after buying an additional 1,250 shares during the last quarter. Quest Partners LLC purchased a new position in shares of QuinStreet during the 3rd quarter valued at about $291,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of QuinStreet during the 3rd quarter valued at about $477,000. Intech Investment Management LLC raised its stake in shares of QuinStreet by 184.9% during the 3rd quarter. Intech Investment Management LLC now owns 46,183 shares of the technology company’s stock valued at $883,000 after buying an additional 29,973 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of QuinStreet by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company’s stock valued at $9,480,000 after acquiring an additional 40,236 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

QNST has been the topic of a number of analyst reports. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. B. Riley restated a “buy” rating and set a $34.00 target price (up from $32.00) on shares of QuinStreet in a research report on Friday, February 7th. Barrington Research restated an “outperform” rating and set a $29.00 target price on shares of QuinStreet in a research report on Friday, February 7th. Finally, Lake Street Capital raised their target price on QuinStreet from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Friday, February 7th. Two equities 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, QuinStreet presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.80.

QuinStreet Trading Down 0.9 %

QNST stock opened at $17.19 on Friday. QuinStreet, Inc. has a 12-month low of $15.20 and a 12-month high of $26.27. The stock has a market cap of $970.70 million, a price-to-earnings ratio of -78.14 and a beta of 1.13. The business’s 50-day moving average is $21.63 and its 200 day moving average is $20.98.

QuinStreet (NASDAQ:QNST) last posted 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 return on equity of 4.13% and a negative net margin of 1.31%. As a group, equities analysts forecast that QuinStreet, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Douglas Valenti sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total transaction 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. The trade was a 0.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gregory Wong sold 8,516 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total value of $194,846.08. Following the transaction, the chief financial officer now owns 337,031 shares in the company, valued at approximately $7,711,269.28. This represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by 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.