QuinStreet Inc (NASDAQ:QNST) Short Interest Up 5.1% in July

QuinStreet Inc (NASDAQ:QNST) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 5,598,000 shares, an increase of 5.1% from the June 30th total of 5,328,200 shares. Based on an average daily volume of 603,400 shares, the days-to-cover ratio is presently 9.3 days. Approximately 12.8% of the shares of the company are sold short.

In other news, CFO Gregory Wong sold 30,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $16.17, for a total value of $485,100.00. Following the completion of the sale, the chief financial officer now owns 256,844 shares of the company’s stock, valued at $4,153,167.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robin Josephs sold 25,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $16.04, for a total transaction of $401,000.00. Following the completion of the sale, the director now directly owns 125,404 shares of the company’s stock, valued at approximately $2,011,480.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,000 shares of company stock valued at $1,529,775. Company insiders own 12.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Pinebridge Investments L.P. acquired a new position in QuinStreet in the second quarter valued at about $29,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in QuinStreet by 42.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,786 shares of the technology company’s stock valued at $37,000 after purchasing an additional 832 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in QuinStreet by 8,798.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,360 shares of the technology company’s stock valued at $69,000 after purchasing an additional 4,311 shares in the last quarter. Aperio Group LLC acquired a new position in QuinStreet in the second quarter valued at about $73,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in QuinStreet by 83.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,108 shares of the technology company’s stock valued at $81,000 after purchasing an additional 2,322 shares in the last quarter. 95.38% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on QNST. Stephens set a $19.00 target price on shares of QuinStreet and gave the company a “buy” rating in a research report on Friday, August 9th. Barrington Research reduced their target price on shares of QuinStreet from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday. Lake Street Capital began coverage on shares of QuinStreet in a research report on Monday, June 24th. They issued a “buy” rating and a $21.00 target price for the company. Zacks Investment Research cut shares of QuinStreet from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 17th. Finally, BidaskClub cut shares of QuinStreet from a “buy” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. QuinStreet currently has a consensus rating of “Buy” and an average target price of $18.60.

Shares of QuinStreet stock traded up $0.16 during trading on Thursday, reaching $10.54. The company’s stock had a trading volume of 1,031,012 shares, compared to its average volume of 731,297. The business’s 50-day moving average price is $15.35 and its 200-day moving average price is $14.85. The firm has a market cap of $539.14 million, a PE ratio of 8.93, a P/E/G ratio of 0.65 and a beta of 0.61. QuinStreet has a 52 week low of $10.15 and a 52 week high of $20.02.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Thursday, August 8th. The technology company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). The business had revenue of $121.96 million during the quarter, compared to the consensus estimate of $128.92 million. QuinStreet had a net margin of 13.73% and a return on equity of 6.78%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. On average, equities analysts forecast that QuinStreet will post 0.56 EPS for the current year.

QuinStreet Company Profile

QuinStreet, Inc, an Internet performance marketing 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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