Legal & General Group Plc Purchases New Position in QuinStreet, Inc. $QNST

Legal & General Group Plc acquired a new position in shares of QuinStreet, Inc. (NASDAQ:QNST) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 137,697 shares of the technology company’s stock, valued at approximately $2,017,000. Legal & General Group Plc owned about 0.24% of QuinStreet at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Heartland Advisors Inc. acquired a new stake in QuinStreet in the first quarter worth $6,005,000. Pacer Advisors Inc. lifted its stake in QuinStreet by 39.6% in the fourth quarter. Pacer Advisors Inc. now owns 284,833 shares of the technology company’s stock valued at $4,093,000 after acquiring an additional 80,862 shares during the last quarter. OP Asset Management Ltd acquired a new stake in QuinStreet in the first quarter valued at $1,779,000. Summit Global Investments bought a new position in shares of QuinStreet in the 2nd quarter valued at about $868,000. Finally, Algert Global LLC grew its holdings in shares of QuinStreet by 96.9% during the 2nd quarter. Algert Global LLC now owns 500,476 shares of the technology company’s stock worth $7,332,000 after purchasing an additional 246,356 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Insider Activity at QuinStreet

In related news, Director Asmau Ahmed sold 10,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $20.30, for a total value of $203,000.00. Following the completion of the transaction, the director owned 24,979 shares of the company’s stock, valued at $507,073.70. This represents a 28.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas Valenti sold 751,631 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $20.50, for a total transaction of $15,408,435.50. Following the completion of the sale, the chief executive officer owned 996,278 shares in the company, valued at $20,423,699. This represents a 43.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders have sold 862,026 shares of company stock valued at $17,423,897. 5.00% of the stock is owned by insiders.

QuinStreet Stock Performance

NASDAQ:QNST opened at $18.73 on Monday. QuinStreet, Inc. has a twelve month low of $10.28 and a twelve month high of $22.29. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.22. The stock’s 50-day simple moving average is $17.76 and its 200 day simple moving average is $14.19. The firm has a market capitalization of $1.07 billion, a PE ratio of 13.28 and a beta of 0.70.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Lake Street Capital raised shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Friday, August 7th. B. Riley Financial restated a “buy” rating on shares of QuinStreet in a research report on Friday, August 7th. Wall Street Zen raised shares of QuinStreet from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Weiss Ratings upgraded shares of QuinStreet from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. Finally, Zacks Research raised shares of QuinStreet from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $22.00.

QuinStreet Company 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.