QuinStreet, Inc. (QNST) Stake Boosted by Spark Investment Management LLC
Spark Investment Management LLC raised its stake in QuinStreet, Inc. (NASDAQ:QNST) by 493.8% during the second quarter, Holdings Channel reports. The firm owned 86,700 shares of the technology company’s stock after buying an additional 72,100 shares during the period. Spark Investment Management LLC’s holdings in QuinStreet were worth $361,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State of Tennessee Treasury Department boosted its position in QuinStreet by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 31,119 shares of the technology company’s stock valued at $121,000 after buying an additional 4,696 shares during the period. Comerica Bank raised its stake in shares of QuinStreet by 3.2% in the first quarter. Comerica Bank now owns 39,257 shares of the technology company’s stock valued at $174,000 after buying an additional 1,205 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of QuinStreet during the fourth quarter valued at $178,000. Great West Life Assurance Co. Can raised its stake in shares of QuinStreet by 29.4% in the second quarter. Great West Life Assurance Co. Can now owns 52,855 shares of the technology company’s stock valued at $220,000 after buying an additional 12,000 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of QuinStreet by 12.5% in the fourth quarter. Teachers Advisors LLC now owns 57,717 shares of the technology company’s stock valued at $217,000 after buying an additional 6,411 shares in the last quarter. Institutional investors and hedge funds own 63.13% of the company’s stock.
Shares of QuinStreet, Inc. (QNST) opened at 4.03 on Tuesday. QuinStreet, Inc. has a one year low of $2.61 and a one year high of $4.63. The company has a 50-day moving average price of $3.94 and a 200 day moving average price of $3.79. The company’s market capitalization is $183.23 million.
QuinStreet (NASDAQ:QNST) last released its earnings results on Tuesday, August 8th. The technology company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.01. QuinStreet had a negative net margin of 4.07% and a negative return on equity of 2.36%. The company had revenue of $81.50 million during the quarter, compared to the consensus estimate of $80.91 million. During the same quarter in the previous year, the business posted $0.02 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts forecast that QuinStreet, Inc. will post $0.21 EPS for the current fiscal year.
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Separately, TheStreet raised QuinStreet from a “d+” rating to a “c” rating in a report on Wednesday, June 28th.
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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