Quarry LP Has $166,000 Position in QuinStreet, Inc. (NASDAQ:QNST)

Quarry LP grew its stake in shares of QuinStreet, Inc. (NASDAQ:QNST) by 279.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,681 shares of the technology company’s stock after acquiring an additional 6,395 shares during the period. Quarry LP’s holdings in QuinStreet were worth $166,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of QNST. Louisiana State Employees Retirement System grew its stake in QuinStreet by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 26,400 shares of the technology company’s stock valued at $438,000 after purchasing an additional 600 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of QuinStreet by 2.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 31,544 shares of the technology company’s stock valued at $603,000 after buying an additional 712 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in QuinStreet by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 20,539 shares of the technology company’s stock worth $341,000 after buying an additional 719 shares during the last quarter. US Bancorp DE raised its position in QuinStreet by 880.3% during the third quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,250 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in QuinStreet in the third quarter valued at approximately $29,000. 97.83% of the stock is owned by institutional investors and hedge funds.

QuinStreet Trading Down 0.2 %

QuinStreet stock opened at $22.14 on Friday. QuinStreet, Inc. has a 52 week low of $11.22 and a 52 week high of $26.27. The business’s 50-day simple moving average is $20.62 and its 200-day simple moving average is $18.78.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate 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 company had revenue of $279.22 million for the quarter, compared to the consensus estimate of $222.68 million. During the same period in the previous year, the business posted ($0.19) EPS. The company’s revenue for the quarter was up 125.3% on a year-over-year basis. As a group, research analysts predict that QuinStreet, Inc. will post 0.15 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stuart Huizinga sold 2,980 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $23.00, for a total value of $68,540.00. Following the completion of the sale, the director now owns 171,923 shares in the company, valued at approximately $3,954,229. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Glickman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total value of $678,900.00. Following the transaction, the director now owns 113,140 shares in the company, valued at $2,560,358.20. This represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,000 shares of company stock valued at $910,374. 5.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on QNST. Craig Hallum raised their price target on shares of QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Barrington Research reiterated an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a research note on Friday. B. Riley raised their price objective on QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Lake Street Capital upped their target price on QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, QuinStreet presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

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.