Hsbc Holdings PLC Takes $3.51 Million Position in QuinStreet, Inc. $QNST

Hsbc Holdings PLC bought a new stake in QuinStreet, Inc. (NASDAQ:QNST) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 238,834 shares of the technology company’s stock, valued at approximately $3,511,000. Hsbc Holdings PLC owned about 0.42% of QuinStreet at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in shares of QuinStreet during the 2nd quarter valued at $160,805,000. Vanguard Group Inc. boosted its position in shares of QuinStreet by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 4,257,710 shares of the technology company’s stock worth $61,183,000 after purchasing an additional 133,468 shares in the last quarter. Private Capital Management LLC boosted its position in shares of QuinStreet by 0.4% during the fourth quarter. Private Capital Management LLC now owns 4,171,946 shares of the technology company’s stock worth $59,951,000 after purchasing an additional 17,690 shares in the last quarter. Millennium Management LLC lifted its holdings in QuinStreet by 21.3% during the third quarter. Millennium Management LLC now owns 1,682,060 shares of the technology company’s stock worth $26,021,000 after acquiring an additional 295,680 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of QuinStreet by 42.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,595,184 shares of the technology company’s stock valued at $22,923,000 after buying an additional 472,407 shares in the last quarter. 97.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Asmau Ahmed sold 10,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $20.30, for a total value of $203,000.00. Following the completion of the sale, the director directly owned 24,979 shares of the company’s stock, valued at $507,073.70. This represents a 28.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas Valenti sold 751,631 shares of QuinStreet stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $20.50, for a total transaction of $15,408,435.50. Following the transaction, the chief executive officer directly owned 996,278 shares in the company, valued at approximately $20,423,699. This represents a 43.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 862,026 shares of company stock valued at $17,423,897. Corporate insiders own 5.00% of the company’s stock.

QuinStreet Stock Performance

NASDAQ:QNST opened at $19.18 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.22. QuinStreet, Inc. has a twelve month low of $10.28 and a twelve month high of $22.29. The company has a fifty day moving average of $17.19 and a 200-day moving average of $13.90. The firm has a market capitalization of $1.09 billion, a P/E ratio of 13.60 and a beta of 0.66.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. QuinStreet had a return on equity of 12.73% and a net margin of 6.28%.The business had revenue of $373.88 million for the quarter, compared to the consensus estimate of $359.95 million. As a group, sell-side analysts anticipate that QuinStreet, Inc. will post 1.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. B. Riley Financial reissued a “buy” rating on shares of QuinStreet in a research report on Friday, August 7th. Zacks Research raised shares of QuinStreet from a “strong sell” rating to a “hold” rating in a report on Thursday, July 30th. Wall Street Zen upgraded QuinStreet from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Lake Street Capital raised shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Friday, August 7th. Finally, Weiss Ratings raised QuinStreet from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.00.

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.