QuinStreet (NASDAQ:QNST) Reaches New 52-Week High at $19.58

QuinStreet, Inc. (NASDAQ:QNST) hit a new 52-week high on Wednesday . The company traded as high as $19.58 and last traded at $19.39, with a volume of 43000 shares traded. The stock had previously closed at $19.43.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on QNST shares. StockNews.com raised shares of QuinStreet to a “sell” rating in a report on Saturday, April 13th. Barrington Research upped their target price on QuinStreet from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, April 23rd. Stephens raised their price objective on QuinStreet from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, B. Riley assumed coverage on QuinStreet in a research report on Friday, April 19th. They set a “buy” rating and a $21.50 target price on the stock. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, QuinStreet currently has an average rating of “Moderate Buy” and a consensus target price of $19.83.

QuinStreet Stock Performance

The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -13.49 and a beta of 1.11. The business has a 50-day simple moving average of $16.78 and a two-hundred day simple moving average of $14.00.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). QuinStreet had a negative return on equity of 32.98% and a negative net margin of 14.28%. The firm had revenue of $122.68 million during the quarter, compared to analyst estimates of $116.46 million. Research analysts predict that QuinStreet, Inc. will post -0.43 EPS for the current fiscal year.

Insider Activity at QuinStreet

In other news, CFO Gregory Wong sold 8,407 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $15.03, for a total transaction of $126,357.21. Following the completion of the transaction, the chief financial officer now owns 295,204 shares in the company, valued at approximately $4,436,916.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp increased its stake in shares of QuinStreet by 1.9% during the 1st quarter. Texas Permanent School Fund Corp now owns 45,638 shares of the technology company’s stock worth $806,000 after purchasing an additional 847 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in QuinStreet by 2.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 31,109 shares of the technology company’s stock valued at $399,000 after acquiring an additional 860 shares during the last quarter. SG Americas Securities LLC grew its holdings in QuinStreet by 6.4% during the 4th quarter. SG Americas Securities LLC now owns 15,066 shares of the technology company’s stock worth $193,000 after acquiring an additional 906 shares during the period. Naples Money Management LLC bought a new stake in QuinStreet during the 4th quarter worth approximately $38,000. Finally, Swiss National Bank lifted its holdings in shares of QuinStreet by 2.7% in the third quarter. Swiss National Bank now owns 113,000 shares of the technology company’s stock valued at $1,014,000 after purchasing an additional 3,000 shares in the last quarter. 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.