QuinStreet (NASDAQ:QNST) Trading Down 6% – Here’s Why

QuinStreet, Inc. (NASDAQ:QNST)’s share price traded down 6% during mid-day trading on Friday . The stock traded as low as $23.17 and last traded at $23.23. 108,178 shares traded hands during trading, a decline of 74% from the average session volume of 416,047 shares. The stock had previously closed at $24.70.

Analyst Ratings Changes

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

QuinStreet Stock Down 3.4 %

The company’s fifty day moving average price is $21.60 and its two-hundred day moving average price is $19.27. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -59.63 and a beta of 1.07.

QuinStreet (NASDAQ:QNST) last released its earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $222.68 million. During the same quarter in the prior year, the company earned ($0.19) EPS. The company’s revenue was up 125.3% on a year-over-year basis. On average, equities research analysts predict that QuinStreet, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Stuart Huizinga sold 7,020 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $23.21, for a total transaction of $162,934.20. Following the completion of the transaction, the director now owns 174,903 shares in the company, valued at approximately $4,059,498.63. This represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Glickman sold 30,000 shares of QuinStreet stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total transaction of $678,900.00. Following the completion of the sale, the director now owns 113,140 shares in the company, valued at $2,560,358.20. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,000 shares of company stock worth $910,374. 5.00% of the stock is owned by corporate insiders.

Institutional Trading of QuinStreet

Several institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. increased its position in shares of QuinStreet by 27.5% during the 2nd quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company’s stock worth $33,763,000 after purchasing an additional 438,947 shares during the last quarter. Divisadero Street Capital Management LP acquired a new position in QuinStreet during the second quarter worth $6,499,000. Driehaus Capital Management LLC raised its position in QuinStreet by 17.6% during the second quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company’s stock worth $25,050,000 after acquiring an additional 225,720 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in QuinStreet by 39.7% in the third quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company’s stock valued at $8,601,000 after acquiring an additional 127,689 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of QuinStreet by 248.7% in the 2nd quarter. Squarepoint Ops LLC now owns 174,367 shares of the technology company’s stock valued at $2,893,000 after acquiring an additional 124,367 shares during the period. Institutional investors 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.