QuinStreet, Inc. (NASDAQ:QNST) Shares Purchased by Portolan Capital Management LLC

Portolan Capital Management LLC increased its stake in shares of QuinStreet, Inc. (NASDAQ:QNST) by 9.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 801,693 shares of the technology company’s stock after purchasing an additional 70,408 shares during the quarter. QuinStreet accounts for approximately 1.1% of Portolan Capital Management LLC’s holdings, making the stock its 25th biggest position. Portolan Capital Management LLC owned approximately 1.42% of QuinStreet worth $15,336,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of QNST. US Bancorp DE lifted its holdings in shares of QuinStreet by 880.3% during the third quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,250 shares during the period. Quantbot Technologies LP acquired a new stake in shares of QuinStreet during the third quarter worth $29,000. Quarry LP lifted its holdings in shares of QuinStreet by 11,330.0% during the second quarter. Quarry LP now owns 2,286 shares of the technology company’s stock worth $38,000 after purchasing an additional 2,266 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of QuinStreet during the second quarter worth $175,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of QuinStreet by 26.1% during the second quarter. Hsbc Holdings PLC now owns 14,000 shares of the technology company’s stock worth $225,000 after purchasing an additional 2,895 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on QNST shares. B. Riley increased their price objective on QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Barrington Research increased their price objective on QuinStreet from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a research report on Monday. Craig Hallum increased their price objective on QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Stephens increased their price objective on QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Insider Buying and Selling

In related news, Director Stuart Huizinga sold 7,020 shares of QuinStreet stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $23.21, for a total transaction of $162,934.20. Following the completion of the sale, the director now owns 174,903 shares in the company, valued at approximately $4,059,498.63. This trade represents a 3.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Glickman sold 30,000 shares of QuinStreet stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total value of $678,900.00. Following the sale, the director now owns 113,140 shares of the company’s stock, valued at approximately $2,560,358.20. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,000 shares of company stock worth $910,374. 5.00% of the stock is owned by corporate insiders.

QuinStreet Stock Down 3.8 %

Shares of QNST stock opened at $22.26 on Wednesday. QuinStreet, Inc. has a fifty-two week low of $11.22 and a fifty-two week high of $26.27. The stock has a market cap of $1.25 billion, a P/E ratio of -55.65 and a beta of 1.07. The business has a fifty day simple moving average of $20.43 and a 200-day simple moving average of $18.70.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The business had revenue of $279.22 million during the quarter, compared to analysts’ expectations of $222.68 million. During the same quarter last year, the business posted ($0.19) earnings per share. The business’s revenue for the quarter was up 125.3% on a year-over-year basis. On average, sell-side analysts anticipate that QuinStreet, Inc. will post 0.15 earnings per share for the current year.

QuinStreet Company Profile

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.