Legato Capital Management LLC Invests $456,000 in QuinStreet, Inc. (NASDAQ:QNST)

Legato Capital Management LLC purchased a new position in shares of QuinStreet, Inc. (NASDAQ:QNST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,785 shares of the technology company’s stock, valued at approximately $456,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE lifted its stake in shares of QuinStreet by 880.3% during the 3rd 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 last quarter. Quantbot Technologies LP purchased a new stake in shares of QuinStreet during the 3rd quarter worth $29,000. KBC Group NV lifted its stake in shares of QuinStreet by 64.5% during the 4th quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock worth $82,000 after purchasing an additional 1,396 shares during the last quarter. Quarry LP raised its stake in QuinStreet by 279.7% in the third quarter. Quarry LP now owns 8,681 shares of the technology company’s stock valued at $166,000 after buying an additional 6,395 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in QuinStreet in the third quarter valued at about $244,000. Institutional investors own 97.83% of the company’s stock.

QuinStreet Stock Down 1.9 %

Shares of NASDAQ:QNST opened at $22.64 on Friday. QuinStreet, Inc. has a 52-week low of $14.14 and a 52-week high of $26.27. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -102.91 and a beta of 1.06. The business has a 50-day moving average price of $22.79 and a 200-day moving average price of $20.74.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). QuinStreet had a negative return on equity of 4.16% and a negative net margin of 1.31%. As a group, equities analysts anticipate that QuinStreet, Inc. will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Douglas Valenti sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total transaction of $250,200.00. Following the sale, the chief executive officer now directly owns 1,836,754 shares of the company’s stock, valued at $45,955,585.08. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stuart Huizinga sold 2,980 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $23.00, for a total value of $68,540.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 20,000 shares of company stock valued at $481,674 over the last ninety days. Company insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

QNST has been the subject of a number of research analyst reports. Stephens increased their price target on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. B. Riley reiterated a “buy” rating and issued a $34.00 price target (up from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Barrington Research reiterated an “outperform” rating and issued a $29.00 price target on shares of QuinStreet in a research note on Friday, February 7th. Finally, Craig Hallum increased their price target on QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a research note 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.80.

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.