Ieq Capital LLC Invests $1.66 Million in QuinStreet, Inc. $QNST

Ieq Capital LLC acquired a new stake in shares of QuinStreet, Inc. (NASDAQ:QNST) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 113,226 shares of the technology company’s stock, valued at approximately $1,659,000.

A number of other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in QuinStreet by 54.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock worth $36,000 after buying an additional 1,066 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of QuinStreet by 17.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock worth $65,000 after acquiring an additional 649 shares during the last quarter. Allworth Financial LP bought a new stake in shares of QuinStreet in the 2nd quarter worth approximately $66,000. Farther Finance Advisors LLC boosted its stake in shares of QuinStreet by 10.2% in the 4th quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company’s stock valued at $113,000 after purchasing an additional 730 shares in the last quarter. Finally, FJ Capital Management LLC purchased a new stake in shares of QuinStreet in the 3rd quarter valued at $135,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other QuinStreet news, CFO Gregory Wong sold 11,704 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $20.44, for a total transaction of $239,229.76. Following the completion of the transaction, the chief financial officer owned 481,786 shares of the company’s stock, valued at $9,847,705.84. This represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Asmau Ahmed sold 10,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $20.30, for a total value of $203,000.00. Following the completion of the sale, the director owned 24,979 shares of the company’s stock, valued at approximately $507,073.70. This trade represents a 28.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 862,026 shares of company stock valued at $17,423,897 over the last ninety days. 5.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on QNST shares. Zacks Research upgraded shares of QuinStreet from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 30th. Wall Street Zen raised QuinStreet from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Lake Street Capital raised QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Friday, August 7th. B. Riley Financial reiterated a “buy” rating on shares of QuinStreet in a report on Friday, August 7th. Finally, Weiss Ratings upgraded QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.00.

QuinStreet Trading Down 1.9%

NASDAQ:QNST opened at $20.10 on Wednesday. The firm has a market capitalization of $1.15 billion, a P/E ratio of 14.26 and a beta of 0.66. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average of $16.82 and a 200 day moving average of $13.75. QuinStreet, Inc. has a 52 week low of $10.28 and a 52 week high of $22.29.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. The business had revenue of $373.88 million for the quarter, compared to analyst estimates of $359.95 million. On average, research analysts predict that QuinStreet, Inc. will post 1.06 earnings per share for the current year.

About QuinStreet

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.