Private Capital Management LLC Sells 167,479 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Private Capital Management LLC trimmed its position in shares of QuinStreet, Inc. (NASDAQ:QNST) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,093,749 shares of the technology company’s stock after selling 167,479 shares during the quarter. QuinStreet accounts for 15.6% of Private Capital Management LLC’s portfolio, making the stock its 2nd largest position. Private Capital Management LLC owned approximately 7.28% of QuinStreet worth $78,313,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in QNST. FMR LLC grew its stake in QuinStreet by 5.2% in the third quarter. FMR LLC now owns 2,233,345 shares of the technology company’s stock valued at $42,724,000 after acquiring an additional 109,892 shares during the period. State Street Corp grew its position in shares of QuinStreet by 2.1% in the 3rd quarter. State Street Corp now owns 1,989,976 shares of the technology company’s stock valued at $38,068,000 after purchasing an additional 41,538 shares during the period. Geode Capital Management LLC increased its stake in QuinStreet by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company’s stock worth $24,315,000 after purchasing an additional 36,963 shares in the last quarter. Portolan Capital Management LLC raised its holdings in QuinStreet by 9.6% during the 3rd quarter. Portolan Capital Management LLC now owns 801,693 shares of the technology company’s stock worth $15,336,000 after buying an additional 70,408 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in QuinStreet by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company’s stock valued at $9,480,000 after buying an additional 40,236 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Insider Buying and Selling

In other news, CFO Gregory Wong sold 8,516 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $22.88, for a total transaction of $194,846.08. Following the transaction, the chief financial officer now directly owns 337,031 shares in the company, valued at $7,711,269.28. The trade was a 2.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas Valenti sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $25.02, for a total transaction of $250,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,836,754 shares in the company, valued at approximately $45,955,585.08. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.

QuinStreet Stock Performance

NASDAQ:QNST opened at $19.30 on Friday. QuinStreet, Inc. has a 52-week low of $14.14 and a 52-week high of $26.27. The company has a market cap of $1.09 billion, a P/E ratio of -87.73 and a beta of 1.06. The stock’s 50-day simple moving average is $22.63 and its 200 day simple moving average is $20.92.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Thursday, February 6th. The technology company reported ($0.03) earnings per share 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 predict that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

QNST has been the subject of several research reports. Lake Street Capital increased their price objective on shares of QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. Stephens lifted their price target on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Craig Hallum upped their price objective 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 reissued an “outperform” rating and issued a $29.00 target price on shares of QuinStreet in a research report on Friday, February 7th. Finally, B. Riley reaffirmed a “buy” rating and set a $34.00 price target (up previously from $32.00) on shares of QuinStreet in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, QuinStreet has a consensus rating of “Moderate Buy” and an average target price of $29.80.

QuinStreet Company 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.