QuinStreet Inc (NASDAQ:QNST) Holdings Boosted by Red Cedar Management LP

Red Cedar Management LP raised its position in QuinStreet Inc (NASDAQ:QNST) by 52.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 275,000 shares of the technology company’s stock after buying an additional 95,000 shares during the period. QuinStreet accounts for about 3.8% of Red Cedar Management LP’s investment portfolio, making the stock its 15th biggest position. Red Cedar Management LP’s holdings in QuinStreet were worth $3,682,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in QNST. Victory Capital Management Inc. boosted its position in QuinStreet by 10,010.2% in the first quarter. Victory Capital Management Inc. now owns 1,564,560 shares of the technology company’s stock valued at $20,949,000 after buying an additional 1,549,085 shares in the last quarter. Bank of America Corp DE boosted its position in QuinStreet by 1,443.1% in the fourth quarter. Bank of America Corp DE now owns 1,236,293 shares of the technology company’s stock valued at $20,065,000 after buying an additional 1,156,178 shares in the last quarter. BlackRock Inc. boosted its position in QuinStreet by 13.6% in the fourth quarter. BlackRock Inc. now owns 6,438,631 shares of the technology company’s stock valued at $104,499,000 after buying an additional 770,269 shares in the last quarter. Portolan Capital Management LLC boosted its position in QuinStreet by 268.7% in the fourth quarter. Portolan Capital Management LLC now owns 713,461 shares of the technology company’s stock valued at $11,579,000 after buying an additional 519,953 shares in the last quarter. Finally, Castleark Management LLC acquired a new position in QuinStreet in the fourth quarter valued at about $5,382,000. Hedge funds and other institutional investors own 95.41% of the company’s stock.

In other QuinStreet news, Director Andrew T. Sheehan sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $15.25, for a total value of $1,525,000.00. Following the completion of the sale, the director now owns 36,621 shares of the company’s stock, valued at $558,470.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin Josephs sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $16.04, for a total transaction of $401,000.00. Following the completion of the sale, the director now directly owns 125,404 shares of the company’s stock, valued at approximately $2,011,480.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,000 shares of company stock valued at $2,411,100. 12.50% of the stock is currently owned by insiders.

Shares of QNST traded down $0.33 on Friday, reaching $16.20. 5,144 shares of the company’s stock were exchanged, compared to its average volume of 542,529. The company has a market cap of $806.95 million, a price-to-earnings ratio of 51.47, a price-to-earnings-growth ratio of 1.76 and a beta of 0.67. QuinStreet Inc has a 12 month low of $12.12 and a 12 month high of $20.02.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Thursday, May 9th. The technology company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.11). The business had revenue of $116.23 million for the quarter, compared to the consensus estimate of $119.63 million. QuinStreet had a return on equity of 8.30% and a net margin of 14.50%. As a group, equities analysts anticipate that QuinStreet Inc will post 0.37 earnings per share for the current fiscal year.

A number of equities analysts have commented on the stock. BidaskClub lowered shares of QuinStreet from a “buy” rating to a “hold” rating in a research report on Tuesday. Barrington Research reaffirmed a “buy” rating and issued a $20.00 target price on shares of QuinStreet in a research note on Thursday, May 16th. Zacks Investment Research raised shares of QuinStreet from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, Singular Research reaffirmed a “buy” rating on shares of QuinStreet in a research note on Thursday, March 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $18.63.

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QuinStreet Company Profile

QuinStreet, Inc, an Internet performance marketing company, provides customer acquisition services for its clients in the United States and internationally. It offers online marketing services to its clients in the form of qualified leads, inquiries, clicks, calls, applications, customers, display advertisements, or impressions through its Websites or third-party publishers.

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Institutional Ownership by Quarter for QuinStreet (NASDAQ:QNST)

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