Verition Fund Management LLC Invests $379,000 in QuinStreet, Inc. (NASDAQ:QNST)

Verition Fund Management LLC acquired a new position in QuinStreet, Inc. (NASDAQ:QNST) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 19,822 shares of the technology company’s stock, valued at approximately $379,000.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE boosted its stake in shares of QuinStreet by 880.3% in the third quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,250 shares during the period. Quantbot Technologies LP purchased a new stake in shares of QuinStreet in the third quarter worth about $29,000. Quarry LP lifted its position in shares of QuinStreet by 11,330.0% in the second quarter. Quarry LP now owns 2,286 shares of the technology company’s stock worth $38,000 after buying an additional 2,266 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of QuinStreet in the second quarter worth about $175,000. Finally, Kings Path Partners LLC purchased a new stake in shares of QuinStreet in the third quarter worth about $259,000. Institutional investors own 97.83% of the company’s stock.

QuinStreet Price Performance

Shares of QNST stock opened at $21.80 on Friday. QuinStreet, Inc. has a 1 year low of $11.22 and a 1 year high of $26.27. The stock’s 50 day simple moving average is $20.84 and its two-hundred day simple moving average is $18.87. The company has a market cap of $1.23 billion, a PE ratio of -54.50 and a beta of 1.07.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The firm had revenue of $279.22 million for the quarter, compared to the consensus estimate of $222.68 million. During the same period in the prior year, the business posted ($0.19) earnings per share. The company’s revenue for the quarter was up 125.3% on a year-over-year basis. Equities research analysts expect that QuinStreet, Inc. will post 0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on QNST shares. Lake Street Capital boosted their target price on QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Craig Hallum boosted their target price on QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Barrington Research reiterated an “outperform” rating and issued a $29.00 target price on shares of QuinStreet in a research report on Friday, December 6th. Stephens boosted their target price on QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, StockNews.com downgraded QuinStreet from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Insider Transactions at QuinStreet

In related news, Director Stuart Huizinga sold 2,980 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $23.00, for a total value of $68,540.00. Following the transaction, the director now owns 171,923 shares of the company’s stock, valued at $3,954,229. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Glickman sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total value of $678,900.00. Following the completion of the transaction, the director now directly owns 113,140 shares in the company, valued at approximately $2,560,358.20. This trade represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,000 shares of company stock worth $910,374. 5.00% of the stock is currently owned by company insiders.

QuinStreet Profile

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.