Algert Global LLC Raises Position in QuinStreet Inc (QNST)
Algert Global LLC boosted its stake in QuinStreet Inc (NASDAQ:QNST) by 28.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,575 shares of the technology company’s stock after buying an additional 33,339 shares during the quarter. Algert Global LLC’s holdings in QuinStreet were worth $2,030,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in QuinStreet by 717.4% in the 1st quarter. Royal Bank of Canada now owns 17,714 shares of the technology company’s stock worth $226,000 after purchasing an additional 15,547 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in QuinStreet in the 2nd quarter worth approximately $424,000. KBC Group NV lifted its stake in QuinStreet by 86.0% in the 2nd quarter. KBC Group NV now owns 94,445 shares of the technology company’s stock worth $1,199,000 after purchasing an additional 43,681 shares in the last quarter. Calamos Advisors LLC purchased a new position in QuinStreet in the 3rd quarter worth approximately $314,000. Finally, Bank of New York Mellon Corp lifted its stake in QuinStreet by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 492,783 shares of the technology company’s stock worth $6,258,000 after purchasing an additional 7,711 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the stock. Craig Hallum reissued a “buy” rating on shares of QuinStreet in a research note on Wednesday, October 31st. BidaskClub raised shares of QuinStreet from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Zacks Investment Research raised shares of QuinStreet from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, November 7th. ValuEngine lowered shares of QuinStreet from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. Finally, William Blair assumed coverage on shares of QuinStreet in a research note on Thursday, October 4th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $17.79.
QuinStreet (NASDAQ:QNST) last announced its quarterly earnings results on Tuesday, October 30th. The technology company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The business had revenue of $112.90 million during the quarter, compared to the consensus estimate of $103.59 million. QuinStreet had a net margin of 4.60% and a return on equity of 14.14%. The business’s revenue was up 29.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 EPS. Research analysts forecast that QuinStreet Inc will post 0.54 earnings per share for the current fiscal year.
In other news, Director James R. Simons sold 2,605 shares of the firm’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $15.01, for a total transaction of $39,101.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas Valenti sold 38,320 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $14.34, for a total transaction of $549,508.80. Following the sale, the chief executive officer now owns 287,919 shares of the company’s stock, valued at approximately $4,128,758.46. The disclosure for this sale can be found here. Insiders have sold a total of 229,362 shares of company stock valued at $3,606,074 in the last 90 days. Insiders own 12.50% of the company’s stock.
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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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