QuinStreet (QNST) Trading 8.5% Higher

QuinStreet Inc (NASDAQ:QNST) shares shot up 8.5% during trading on Wednesday . The stock traded as high as $15.04 and last traded at $14.86. 1,267,346 shares were traded during mid-day trading, an increase of 90% from the average session volume of 667,166 shares. The stock had previously closed at $13.70.

Several research firms have recently issued reports on QNST. BidaskClub cut shares of QuinStreet from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 24th. William Blair began coverage on shares of QuinStreet in a report on Thursday, October 4th. They issued an “outperform” rating for the company. Zacks Investment Research cut shares of QuinStreet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Singular Research began coverage on shares of QuinStreet in a report on Friday, July 6th. They issued a “long” rating and a $16.75 price objective for the company. Finally, Craig Hallum began coverage on shares of QuinStreet in a report on Wednesday, June 27th. They issued a “buy” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. QuinStreet currently has an average rating of “Buy” and a consensus price target of $17.29.

The firm has a market cap of $665.99 million, a PE ratio of 46.44, a P/E/G ratio of 1.01 and a beta of 0.99.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Tuesday, August 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the 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 revenue was up 36.8% on a year-over-year basis. During the same period last year, the firm posted $0.06 earnings per share. On average, sell-side analysts predict that QuinStreet Inc will post 0.54 earnings per share for the current fiscal year.

In related news, Director James R. Simons sold 249,860 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $13.68, for a total transaction of $3,418,084.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas Valenti sold 38,320 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $14.34, for a total transaction of $549,508.80. Following the sale, the chief executive officer now owns 287,919 shares of the company’s stock, valued at $4,128,758.46. The disclosure for this sale can be found here. Insiders sold 1,326,990 shares of company stock valued at $20,008,902 over the last quarter. Insiders own 12.50% of the company’s stock.

A number of large investors have recently modified their holdings of QNST. Schwab Charles Investment Management Inc. boosted its holdings in QuinStreet by 41.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 99,823 shares of the technology company’s stock worth $1,275,000 after buying an additional 29,306 shares in the last quarter. Northern Trust Corp boosted its holdings in QuinStreet by 6.0% during the first quarter. Northern Trust Corp now owns 432,894 shares of the technology company’s stock worth $5,529,000 after buying an additional 24,322 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in QuinStreet by 237.0% during the first quarter. JPMorgan Chase & Co. now owns 346,465 shares of the technology company’s stock worth $4,424,000 after buying an additional 243,644 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in QuinStreet by 187.5% during the first quarter. New York State Common Retirement Fund now owns 92,858 shares of the technology company’s stock worth $1,186,000 after buying an additional 60,558 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in QuinStreet by 14.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,052,765 shares of the technology company’s stock worth $13,444,000 after buying an additional 135,773 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

About QuinStreet (NASDAQ:QNST)

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.

Recommended Story: What Factors Can Affect Return on Equity?

Receive News & Ratings for QuinStreet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuinStreet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply