Globeflex Capital L P Acquires Shares of 50,987 QuinStreet, Inc. $QNST

Globeflex Capital L P bought a new position in QuinStreet, Inc. (NASDAQ:QNST) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 50,987 shares of the technology company’s stock, valued at approximately $612,000.

A number of other institutional investors have also recently modified their holdings of QNST. Balyasny Asset Management L.P. increased its holdings in shares of QuinStreet by 1,000.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 900,264 shares of the technology company’s stock valued at $12,937,000 after acquiring an additional 1,000,264 shares in the last quarter. Heartland Advisors Inc. purchased a new position in shares of QuinStreet in the 1st quarter worth about $6,005,000. Assenagon Asset Management S.A. boosted its stake in QuinStreet by 43.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,633,251 shares of the technology company’s stock worth $23,470,000 after purchasing an additional 496,492 shares in the last quarter. Millennium Management LLC boosted its stake in QuinStreet by 213.3% in the 1st quarter. Millennium Management LLC now owns 714,482 shares of the technology company’s stock worth $12,746,000 after purchasing an additional 486,406 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in QuinStreet by 42.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,595,184 shares of the technology company’s stock valued at $22,923,000 after purchasing an additional 472,407 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. B. Riley Financial upgraded shares of QuinStreet to a “strong-buy” rating in a research note on Thursday, April 2nd. Zacks Research downgraded shares of QuinStreet from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 9th. Finally, Wall Street Zen lowered shares of QuinStreet from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.50.

QuinStreet Trading Down 3.8%

QuinStreet stock opened at $15.63 on Thursday. QuinStreet, Inc. has a one year low of $10.28 and a one year high of $18.02. The business’s fifty day moving average is $13.80 and its 200 day moving average is $13.06. The stock has a market capitalization of $897.79 million, a PE ratio of 13.71 and a beta of 0.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.18 and a quick ratio of 1.18.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Thursday, May 7th. The technology company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. The business had revenue of $346.14 million during the quarter, compared to analyst estimates of $336.22 million. QuinStreet had a return on equity of 9.97% and a net margin of 5.53%.QuinStreet’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, sell-side analysts predict that QuinStreet, Inc. will post 0.53 EPS for the current year.

Insider Activity at QuinStreet

In other news, CFO Gregory Wong sold 10,338 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $15.00, for a total transaction of $155,070.00. Following the completion of the transaction, the chief financial officer directly owned 390,344 shares of the company’s stock, valued at $5,855,160. The trade was a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is owned by corporate insiders.

QuinStreet Profile

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.