Heartland Advisors Inc. Takes $6 Million Position in QuinStreet, Inc. $QNST

Heartland Advisors Inc. acquired a new stake in shares of QuinStreet, Inc. (NASDAQ:QNST) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 500,000 shares of the technology company’s stock, valued at approximately $6,005,000. Heartland Advisors Inc. owned 0.88% of QuinStreet at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in shares of QuinStreet by 59.8% during the 4th quarter. Nordea Investment Management AB now owns 362,042 shares of the technology company’s stock valued at $5,174,000 after purchasing an additional 135,527 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of QuinStreet by 43.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,633,251 shares of the technology company’s stock valued at $23,470,000 after buying an additional 496,492 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of QuinStreet by 39.6% in the fourth quarter. Pacer Advisors Inc. now owns 284,833 shares of the technology company’s stock valued at $4,093,000 after buying an additional 80,862 shares during the period. OP Asset Management Ltd bought a new position in QuinStreet during the first quarter valued at about $1,779,000. Finally, UBS Group AG boosted its stake in QuinStreet by 59.6% during the fourth quarter. UBS Group AG now owns 260,318 shares of the technology company’s stock valued at $3,741,000 after buying an additional 97,226 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Insider Activity at QuinStreet

In other news, CFO Gregory Wong sold 10,338 shares of QuinStreet stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $15.00, for a total transaction of $155,070.00. Following the transaction, the chief financial officer owned 390,344 shares in the company, valued at approximately $5,855,160. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on QNST. B. Riley Financial upgraded shares of QuinStreet to a “strong-buy” rating in a research report on Thursday, April 2nd. Weiss Ratings raised shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 9th. Wall Street Zen cut shares of QuinStreet from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Zacks Research lowered shares of QuinStreet from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.50.

QuinStreet Price Performance

QNST stock opened at $16.78 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $963.84 million, a P/E ratio of 14.72 and a beta of 0.67. QuinStreet, Inc. has a 52-week low of $10.28 and a 52-week high of $18.02. The company’s 50 day simple moving average is $13.54 and its 200-day simple moving average is $13.02.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. QuinStreet had a net margin of 5.53% and a return on equity of 9.97%. The firm had revenue of $346.14 million during the quarter, compared to analyst estimates of $336.22 million. During the same quarter last year, the business posted $0.21 EPS. The company’s revenue was up 28.3% on a year-over-year basis. As a group, equities research analysts anticipate that QuinStreet, Inc. will post 0.53 EPS for the current year.

About QuinStreet

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.