QuinStreet (NASDAQ:QNST) Trading Down 4.2% – Here’s What Happened

Shares of QuinStreet, Inc. (NASDAQ:QNST) were down 4.2% during mid-day trading on Thursday . The stock traded as low as $17.65 and last traded at $17.63. Approximately 330,147 shares traded hands during trading, a decline of 60% from the average session volume of 831,793 shares. The stock had previously closed at $18.40.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. B. Riley Financial reissued a “buy” rating on shares of QuinStreet in a report on Friday, August 7th. Weiss Ratings raised QuinStreet from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. Wall Street Zen upgraded QuinStreet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Lake Street Capital raised QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Friday, August 7th. Finally, Zacks Research raised QuinStreet from a “hold” rating to a “strong-buy” rating in a report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, QuinStreet presently has an average rating of “Buy” and an average target price of $23.50.

QuinStreet Trading Down 4.3%

The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 12.49 and a beta of 0.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 1.22. The business’s 50 day simple moving average is $18.18 and its 200 day simple moving average is $14.58.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. The business had revenue of $373.88 million for the quarter, compared to the consensus estimate of $359.95 million. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. Research analysts anticipate that QuinStreet, Inc. will post 1.06 EPS for the current year.

Insider Buying and Selling at QuinStreet

In other QuinStreet news, Director Asmau Ahmed sold 10,000 shares of QuinStreet stock in a transaction dated 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 in the company, valued at $507,073.70. The trade was a 28.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas Valenti sold 751,631 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $20.50, for a total value of $15,408,435.50. Following the completion of the transaction, the chief executive officer directly owned 996,278 shares in the company, valued at $20,423,699. This trade represents a 43.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 839,969 shares of company stock worth $17,155,022 in the last 90 days. 5.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuinStreet

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in QuinStreet during the second quarter valued at approximately $160,805,000. Lazard Asset Management LLC raised its position in shares of QuinStreet by 619.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,441,113 shares of the technology company’s stock valued at $17,308,000 after acquiring an additional 1,240,667 shares in the last quarter. NewEdge Wealth LLC acquired a new stake in shares of QuinStreet during the 2nd quarter valued at approximately $12,157,000. Heartland Advisors Inc. acquired a new stake in shares of QuinStreet during the 2nd quarter valued at approximately $8,790,000. Finally, Bank of New York Mellon Corp bought a new position in QuinStreet during the second quarter worth $4,708,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

QuinStreet Company Profile

QuinStreet, Inc is a performance marketing and online marketplace company that connects consumers with brands and service providers. The company uses digital media, data, and technology to help businesses acquire customers through channels such as search, content, comparison websites, and its network of publishing partners.

QuinStreet operates in several high-value categories, including insurance, home services, financial services, and business-to-business services. Its products and platforms are designed to help consumers research and compare products or services while enabling advertisers to receive qualified leads, calls, and customer opportunities.

Founded in 1999, QuinStreet is headquartered in Foster City, California, and primarily serves the United States market.