Royce & Associates LP trimmed its position in shares of QuinStreet Inc (NASDAQ:QNST) by 27.9% during the 4th quarter, HoldingsChannel reports. The firm owned 2,119,664 shares of the technology company’s stock after selling 821,100 shares during the quarter. Royce & Associates LP’s holdings in QuinStreet were worth $17,763,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of QNST. Wells Fargo & Company MN grew its position in QuinStreet by 48.8% during the 2nd quarter. Wells Fargo & Company MN now owns 27,130 shares of the technology company’s stock worth $113,000 after purchasing an additional 8,900 shares in the last quarter. LS Investment Advisors LLC grew its position in QuinStreet by 1,230.5% during the 4th quarter. LS Investment Advisors LLC now owns 14,556 shares of the technology company’s stock worth $122,000 after purchasing an additional 13,462 shares in the last quarter. Voya Investment Management LLC grew its position in QuinStreet by 21.7% during the 2nd quarter. Voya Investment Management LLC now owns 29,642 shares of the technology company’s stock worth $124,000 after purchasing an additional 5,278 shares in the last quarter. Bessemer Group Inc. purchased a new position in QuinStreet during the 4th quarter worth approximately $152,000. Finally, Strs Ohio purchased a new position in QuinStreet during the 4th quarter worth approximately $180,000. Hedge funds and other institutional investors own 63.72% of the company’s stock.
QuinStreet Inc (NASDAQ QNST) opened at $13.38 on Thursday. QuinStreet Inc has a fifty-two week low of $3.15 and a fifty-two week high of $13.85. The company has a market cap of $589.02, a price-to-earnings ratio of 84.93, a PEG ratio of 2.83 and a beta of 1.36.
QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. QuinStreet had a net margin of 0.78% and a return on equity of 5.77%. The business had revenue of $87.49 million for the quarter, compared to analysts’ expectations of $75.18 million. During the same period in the previous year, the company posted ($0.04) EPS. QuinStreet’s revenue was up 33.3% on a year-over-year basis. sell-side analysts forecast that QuinStreet Inc will post 0.18 EPS for the current year.
In other news, Director John G. Mcdonald sold 14,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $10.37, for a total transaction of $145,180.00. Following the transaction, the director now directly owns 67,671 shares in the company, valued at approximately $701,748.27. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James R. Simons sold 229,717 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $12.53, for a total transaction of $2,878,354.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 755,367 shares of company stock worth $7,719,119. 24.10% of the stock is currently owned by corporate insiders.
Several research firms have recently commented on QNST. Barrington Research began coverage on shares of QuinStreet in a report on Tuesday, November 28th. They set an “outperform” rating and a $12.50 price target on the stock. Stephens restated a “buy” rating and set a $11.50 price target on shares of QuinStreet in a report on Thursday, February 1st. Finally, Zacks Investment Research upgraded shares of QuinStreet from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Friday, February 9th.
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QuinStreet Company Profile
QuinStreet, Inc is an online performance marketing company. The Company provides vertically oriented customer acquisition programs for its clients. The Company operating segments include Direct Marketing Services (DMS) business. Its DMS business derives its net revenue from fees earned through the delivery of qualified leads, clicks, calls or customers, and display advertisements, or impressions.
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