Intrinsic Edge Capital Management LLC Invests $3.69 Million in QuinStreet, Inc. (NASDAQ:QNST)

Intrinsic Edge Capital Management LLC acquired a new stake in shares of QuinStreet, Inc. (NASDAQ:QNST) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 160,000 shares of the technology company’s stock, valued at approximately $3,691,000.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of QuinStreet by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 4,002,030 shares of the technology company’s stock valued at $92,327,000 after purchasing an additional 26,169 shares during the period. American Century Companies Inc. lifted its stake in shares of QuinStreet by 9.9% in the 4th quarter. American Century Companies Inc. now owns 2,228,568 shares of the technology company’s stock worth $51,413,000 after purchasing an additional 201,052 shares during the period. Geode Capital Management LLC boosted its holdings in shares of QuinStreet by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 1,297,160 shares of the technology company’s stock worth $29,933,000 after buying an additional 26,394 shares during the last quarter. Invesco Ltd. grew its position in QuinStreet by 177.8% during the fourth quarter. Invesco Ltd. now owns 946,108 shares of the technology company’s stock valued at $21,827,000 after buying an additional 605,500 shares during the period. Finally, Portolan Capital Management LLC increased its holdings in QuinStreet by 14.4% during the fourth quarter. Portolan Capital Management LLC now owns 917,215 shares of the technology company’s stock valued at $21,160,000 after buying an additional 115,522 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Insider Activity at QuinStreet

In other QuinStreet news, CEO Douglas Valenti sold 10,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $25.02, for a total transaction of $250,200.00. Following the completion of the transaction, the chief executive officer now owns 1,836,754 shares of the company’s stock, valued at $45,955,585.08. This represents a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gregory Wong sold 8,516 shares of QuinStreet stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total value of $194,846.08. Following the completion of the sale, the chief financial officer now directly owns 337,031 shares in the company, valued at $7,711,269.28. This trade represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

QNST has been the subject of a number of recent research reports. Lake Street Capital boosted their price objective on shares of QuinStreet from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Friday, February 7th. Barrington Research reissued an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a report on Wednesday. B. Riley reaffirmed a “buy” rating and issued a $34.00 price objective (up previously from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Finally, StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $29.80.

QuinStreet Stock Up 1.7 %

NASDAQ:QNST opened at $17.57 on Friday. The business’s 50-day simple moving average is $17.64 and its two-hundred day simple moving average is $20.46. QuinStreet, Inc. has a 52 week low of $14.39 and a 52 week high of $26.27. The stock has a market cap of $992.16 million, a PE ratio of -79.86 and a beta of 0.91.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Thursday, February 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. Sell-side analysts anticipate that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

About QuinStreet

QuinStreet, Inc, an online performance marketing company, provides customer acquisition services for its clients in the United States and internationally. The company offers online marketing services, such as qualified clicks, leads, calls, applications, and customers through its websites or third-party publishers.