Russell Investments Group Ltd. Lowers Stake in QuinStreet Inc (QNST)

Russell Investments Group Ltd. lessened its holdings in QuinStreet Inc (NASDAQ:QNST) by 28.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 163,771 shares of the technology company’s stock after selling 64,696 shares during the period. Russell Investments Group Ltd. owned about 0.35% of QuinStreet worth $2,134,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Preferred LLC purchased a new stake in QuinStreet during the second quarter valued at approximately $126,000. SG Americas Securities LLC purchased a new stake in QuinStreet during the second quarter valued at approximately $116,000. Rutabaga Capital Management LLC MA lifted its position in QuinStreet by 3.8% during the second quarter. Rutabaga Capital Management LLC MA now owns 297,640 shares of the technology company’s stock valued at $3,780,000 after acquiring an additional 10,900 shares during the last quarter. Strs Ohio lifted its position in QuinStreet by 8.5% during the second quarter. Strs Ohio now owns 45,900 shares of the technology company’s stock valued at $582,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in QuinStreet by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 492,783 shares of the technology company’s stock valued at $6,258,000 after acquiring an additional 7,711 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on QNST shares. BidaskClub cut shares of QuinStreet from a “buy” rating to a “hold” rating in a research report on Saturday. TheStreet raised shares of QuinStreet from a “c+” rating to a “b-” rating in a research report on Monday, July 9th. Stephens reissued a “buy” rating and set a $16.00 target price on shares of QuinStreet in a research report on Tuesday, August 7th. Northland Securities started coverage on shares of QuinStreet in a research report on Thursday, June 21st. They set an “outperform” rating and a $20.00 target price for the company. Finally, Zacks Investment Research raised shares of QuinStreet from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Thursday, August 16th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.29.

In other QuinStreet news, Director James R. Simons sold 25,073 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $13.66, for a total value of $342,497.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gregory Wong sold 9,091 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $13.44, for a total transaction of $122,183.04. Following the completion of the transaction, the chief financial officer now directly owns 237,501 shares of the company’s stock, valued at approximately $3,192,013.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,583,721 shares of company stock valued at $23,589,489. Corporate insiders own 12.50% of the company’s stock.

NASDAQ:QNST opened at $13.43 on Tuesday. QuinStreet Inc has a 52 week low of $6.86 and a 52 week high of $16.42. The company has a market cap of $649.79 million, a P/E ratio of 41.97, a PEG ratio of 0.98 and a beta of 0.98.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.06. The business had revenue of $111.50 million during the quarter, compared to analysts’ expectations of $100.62 million. QuinStreet had a net margin of 3.94% and a return on equity of 12.72%. The business’s quarterly revenue was up 36.8% on a year-over-year basis. During the same quarter last year, the company posted $0.06 earnings per share. equities analysts forecast that QuinStreet Inc will post 0.54 EPS for the current fiscal year.

About QuinStreet

QuinStreet, Inc, an Internet performance marketing and media company, provides customer acquisition services for its clients in the United States and internationally. It offers online marketing services to its clients in the form of qualified leads, inquiries, clicks, calls, applications, customers, display advertisements, or impressions through its Websites or third-party publishers.

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Institutional Ownership by Quarter for QuinStreet (NASDAQ:QNST)

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