QuinStreet (NASDAQ:QNST) Stock Price Down 5.4% – Here’s What Happened

QuinStreet, Inc. (NASDAQ:QNST) was down 5.4% during mid-day trading on Tuesday . The stock traded as low as $16.45 and last traded at $16.1950. 105,225 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 797,635 shares. The stock had previously closed at $17.12.

Analysts Set New Price Targets

QNST has been the topic of a number of research analyst reports. B. Riley Financial upgraded QuinStreet to a “strong-buy” rating in a research report on Thursday, April 2nd. Wall Street Zen cut QuinStreet from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Zacks Research lowered shares of QuinStreet from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings upgraded shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 9th. 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 MarketBeat.com, QuinStreet currently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

QuinStreet Stock Down 3.8%

The firm has a 50 day simple moving average of $13.80 and a two-hundred day simple moving average of $13.06. The company has a market capitalization of $897.79 million, a PE ratio of 13.71 and a beta of 0.67. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.23.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.17 by $0.14. QuinStreet had a return on equity of 9.97% and a net margin of 5.53%.The business had revenue of $346.14 million during the quarter, compared to analysts’ expectations of $336.22 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. The company’s quarterly revenue was up 28.3% compared to the same quarter last year. Research analysts expect that QuinStreet, Inc. will post 0.53 EPS for the current year.

Insider Activity

In other news, CFO Gregory Wong sold 22,057 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $12.19, for a total transaction of $268,874.83. Following the transaction, the chief financial officer directly owned 400,682 shares in the company, valued at $4,884,313.58. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuinStreet

A number of institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of QuinStreet by 17.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock worth $65,000 after buying an additional 649 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of QuinStreet in the 1st quarter valued at about $949,000. Bank of America Corp DE lifted its stake in shares of QuinStreet by 58.0% in the first quarter. Bank of America Corp DE now owns 179,378 shares of the technology company’s stock valued at $2,154,000 after purchasing an additional 65,880 shares during the period. Amundi lifted its stake in shares of QuinStreet by 77.6% in the first quarter. Amundi now owns 65,066 shares of the technology company’s stock valued at $781,000 after purchasing an additional 28,438 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in QuinStreet by 134.5% during the first quarter. Quantinno Capital Management LP now owns 124,437 shares of the technology company’s stock worth $1,494,000 after buying an additional 71,369 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

QuinStreet Company Profile

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.