Arrowstreet Capital Limited Partnership Purchases New Position in QuinStreet Inc (QNST)
Arrowstreet Capital Limited Partnership purchased a new position in shares of QuinStreet Inc (NASDAQ:QNST) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 455,319 shares of the technology company’s stock, valued at approximately $3,816,000.
Several other hedge funds also recently modified their holdings of QNST. Wells Fargo & Company MN increased its stake in shares of 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 during the last quarter. LS Investment Advisors LLC increased its stake in shares of 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 during the last quarter. Voya Investment Management LLC increased its stake in shares of 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 during the last quarter. Bessemer Group Inc. purchased a new stake in shares of QuinStreet during the 4th quarter worth approximately $152,000. Finally, Strs Ohio purchased a new stake in shares of QuinStreet during the 4th quarter worth approximately $180,000. Institutional investors own 63.72% of the company’s stock.
Several equities research analysts have recently issued reports on QNST shares. Zacks Investment Research upgraded shares of QuinStreet from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Friday, February 9th. Stephens restated a “buy” rating and set a $11.50 price target on shares of QuinStreet in a research note on Thursday, February 1st. Finally, Barrington Research started coverage on shares of QuinStreet in a research note on Tuesday, November 28th. They set an “outperform” rating and a $12.50 price target for the company.
Shares of QuinStreet Inc (NASDAQ:QNST) opened at $13.09 on Monday. QuinStreet Inc has a one year low of $3.15 and a one year high of $13.87. The stock has a market cap of $605.20, a P/E ratio of 261.80, a PEG ratio of 2.91 and a beta of 0.89.
QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $87.49 million during the quarter, compared to analyst estimates of $75.18 million. During the same quarter last year, the business posted ($0.04) EPS. QuinStreet’s quarterly revenue was up 33.3% compared to the same quarter last year. analysts forecast that QuinStreet Inc will post 0.18 earnings per share for the current year.
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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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