QuinStreet (NASDAQ:QNST) Shares Down 4.2% – What’s Next?

Shares of QuinStreet, Inc. (NASDAQ:QNST) were down 4.2% during mid-day trading on Thursday . The company traded as low as $17.65 and last traded at $17.63. Approximately 330,147 shares were traded during trading, a decline of 60% from the average session volume of 831,793 shares. The stock had previously closed at $18.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Lake Street Capital upgraded shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Friday, August 7th. Zacks Research upgraded QuinStreet from a “hold” rating to a “strong-buy” rating in a report on Friday, August 28th. B. Riley Financial reissued a “buy” rating on shares of QuinStreet in a research report on Friday, August 7th. Northland Securities set a $23.00 price objective on QuinStreet in a research note on Thursday. Finally, Weiss Ratings upgraded QuinStreet from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. 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 stock. Based on data from MarketBeat.com, QuinStreet presently has a consensus rating of “Buy” and a consensus target price of $23.50.

QuinStreet Stock Down 0.7%

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 company has a market cap of $1.00 billion, a price-to-earnings ratio of 12.45 and a beta of 0.70. The business has a 50-day simple moving average of $18.21 and a two-hundred day simple moving average of $14.64.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $373.88 million for 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%. As a group, equities analysts forecast that QuinStreet, Inc. will post 1.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other QuinStreet news, Director Asmau Ahmed sold 15,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $20.85, for a total value of $312,750.00. Following the sale, the director directly owned 34,979 shares in the company, valued at $729,312.15. This trade represents a 30.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Gregory Wong sold 26,296 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $20.09, for a total transaction of $528,286.64. Following the transaction, the chief financial officer owned 521,883 shares in the company, valued at approximately $10,484,629.47. The trade was a 4.80% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 839,969 shares of company stock valued at $17,155,022 in the last three months. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of QuinStreet in the 2nd quarter worth approximately $160,805,000. Royce & Associates LP raised its holdings in QuinStreet by 2.7% during the 4th quarter. Royce & Associates LP now owns 1,360,352 shares of the technology company’s stock worth $19,548,000 after purchasing an additional 35,145 shares during the last quarter. Lazard Asset Management LLC lifted its position in QuinStreet by 619.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,441,113 shares of the technology company’s stock valued at $17,308,000 after purchasing an additional 1,240,667 shares during the period. Dimensional Fund Advisors LP lifted its position in QuinStreet by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,200,335 shares of the technology company’s stock valued at $14,417,000 after purchasing an additional 23,886 shares during the period. Finally, Jacobs Asset Management LLC boosted its stake in shares of QuinStreet by 21.6% in the 1st quarter. Jacobs Asset Management LLC now owns 1,134,300 shares of the technology company’s stock valued at $13,623,000 after purchasing an additional 201,800 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

About QuinStreet

QuinStreet, Inc is a performance marketing and online marketplace company that connects consumers with brands and service providers. The company uses digital media, data, and technology to help businesses acquire customers through channels such as search, content, comparison websites, and its network of publishing partners.

QuinStreet operates in several high-value categories, including insurance, home services, financial services, and business-to-business services. Its products and platforms are designed to help consumers research and compare products or services while enabling advertisers to receive qualified leads, calls, and customer opportunities.

Founded in 1999, QuinStreet is headquartered in Foster City, California, and primarily serves the United States market.