Short Interest in QuinStreet, Inc. (NASDAQ:QNST) Declines By 18.8%

QuinStreet, Inc. (NASDAQ:QNST) saw a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 2,132,704 shares, a drop of 18.8% from the January 15th total of 2,625,368 shares. Based on an average daily volume of 617,927 shares, the short-interest ratio is presently 3.5 days. Approximately 4.0% of the shares of the company are short sold. Approximately 4.0% of the shares of the company are short sold. Based on an average daily volume of 617,927 shares, the short-interest ratio is presently 3.5 days.

Institutional Trading of QuinStreet

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of QuinStreet by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 4,257,710 shares of the technology company’s stock worth $61,183,000 after purchasing an additional 133,468 shares in the last quarter. Millennium Management LLC increased its holdings in QuinStreet by 21.3% during the 3rd quarter. Millennium Management LLC now owns 1,682,060 shares of the technology company’s stock worth $26,021,000 after purchasing an additional 295,680 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of QuinStreet by 43.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,633,251 shares of the technology company’s stock worth $23,470,000 after purchasing an additional 496,492 shares during the last quarter. Goldman Sachs Group Inc. raised its position in QuinStreet by 42.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,595,184 shares of the technology company’s stock valued at $22,923,000 after buying an additional 472,407 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of QuinStreet by 2.2% during the second quarter. Geode Capital Management LLC now owns 1,361,252 shares of the technology company’s stock valued at $21,918,000 after purchasing an additional 29,783 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on QNST. Barrington Research reiterated an “outperform” rating and set a $24.00 target price on shares of QuinStreet in a research report on Friday, February 6th. Lake Street Capital set a $15.00 price objective on QuinStreet in a research report on Friday, February 6th. B. Riley Financial boosted their target price on QuinStreet from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings raised QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 9th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, QuinStreet presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

QuinStreet Stock Up 6.5%

Shares of QNST traded up $0.69 during mid-day trading on Monday, hitting $11.25. 1,539,477 shares of the company’s stock were exchanged, compared to its average volume of 1,000,230. QuinStreet has a 52 week low of $10.28 and a 52 week high of $23.24. The firm has a market cap of $641.14 million, a price-to-earnings ratio of 10.32 and a beta of 0.70. The stock’s 50-day simple moving average is $13.96 and its 200-day simple moving average is $14.68.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Thursday, February 5th. The technology company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. QuinStreet had a return on equity of 9.55% and a net margin of 5.64%.The firm had revenue of $287.85 million for the quarter, compared to the consensus estimate of $275.07 million. During the same quarter last year, the business posted $0.20 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. Analysts forecast that QuinStreet will post 0.12 earnings per share for the current fiscal year.

QuinStreet Company Profile

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.