QuinStreet (NASDAQ:QNST) Trading Up 5.7% – Here’s What Happened

QuinStreet, Inc. (NASDAQ:QNST)’s share price was up 5.7% during mid-day trading on Tuesday . The company traded as high as $22.73 and last traded at $22.71. Approximately 81,328 shares traded hands during trading, a decline of 80% from the average daily volume of 413,612 shares. The stock had previously closed at $21.48.

Analyst Ratings Changes

Several equities analysts have recently weighed in on QNST shares. Craig Hallum raised their price target on shares of QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Lake Street Capital raised their target price on shares of QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Stephens upped their price target on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com downgraded QuinStreet from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Finally, B. Riley upped their target price on QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.00.

QuinStreet Trading Up 9.2 %

The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -58.63 and a beta of 1.07. The stock’s fifty day moving average price is $21.32 and its 200-day moving average price is $19.14.

QuinStreet (NASDAQ:QNST) last posted its earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share (EPS) 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 company had revenue of $279.22 million during the quarter, compared to analysts’ expectations of $222.68 million. During the same quarter last year, the firm earned ($0.19) earnings per share. The firm’s quarterly revenue was up 125.3% compared to the same quarter last year. Analysts predict that QuinStreet, Inc. will post 0.15 earnings per share for the current year.

Insider Buying and Selling at QuinStreet

In other news, Director Matthew Glickman sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 owns 113,140 shares of the company’s stock, valued at approximately $2,560,358.20. This trade represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stuart Huizinga sold 7,020 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $23.21, for a total transaction of $162,934.20. Following the sale, the director now directly owns 174,903 shares in the company, valued at approximately $4,059,498.63. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock valued at $910,374 over the last 90 days. 5.00% of the stock is owned by insiders.

Hedge Funds Weigh In On QuinStreet

Several institutional investors have recently modified their holdings of the business. US Bancorp DE increased its position in shares of QuinStreet by 880.3% during 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 acquired a new position in QuinStreet during the 3rd quarter worth $29,000. Quarry LP increased its holdings in QuinStreet by 11,330.0% during the 2nd quarter. Quarry LP now owns 2,286 shares of the technology company’s stock worth $38,000 after purchasing an additional 2,266 shares during the period. Victory Capital Management Inc. acquired a new stake in QuinStreet in the 2nd quarter valued at about $175,000. Finally, Hsbc Holdings PLC boosted its stake in shares of QuinStreet by 26.1% in the 2nd quarter. Hsbc Holdings PLC now owns 14,000 shares of the technology company’s stock valued at $225,000 after buying an additional 2,895 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

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.