Cornerstone Investment Partners LLC Buys Shares of 12,865 QuinStreet, Inc. (NASDAQ:QNST)

Cornerstone Investment Partners LLC bought a new stake in shares of QuinStreet, Inc. (NASDAQ:QNST) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,865 shares of the technology company’s stock, valued at approximately $165,000.

Several other hedge funds and other institutional investors have also bought and sold shares of QNST. Carmel Capital Partners LLC purchased a new stake in shares of QuinStreet during the 3rd quarter valued at about $34,000. Quarry LP purchased a new stake in shares of QuinStreet during the 2nd quarter valued at about $62,000. State of Wyoming increased its position in shares of QuinStreet by 62.2% during the 4th quarter. State of Wyoming now owns 7,193 shares of the technology company’s stock valued at $103,000 after purchasing an additional 2,757 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of QuinStreet during the 3rd quarter valued at about $92,000. Finally, Syon Capital LLC purchased a new stake in shares of QuinStreet during the 3rd quarter valued at about $105,000. Institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on QNST. StockNews.com raised shares of QuinStreet to a “sell” rating in a research report on Saturday, April 13th. Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of QuinStreet in a report on Thursday, February 8th. B. Riley started coverage on shares of QuinStreet in a report on Friday. They issued a “buy” rating and a $21.50 target price for the company. Finally, Stephens increased their target price on shares of QuinStreet from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.38.

Insider Activity

In other news, CFO Gregory Wong sold 8,407 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $15.03, for a total transaction of $126,357.21. Following the completion of the transaction, the chief financial officer now directly owns 295,204 shares in the company, valued at approximately $4,436,916.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.30% of the company’s stock.

QuinStreet Price Performance

Shares of QNST opened at $16.80 on Friday. QuinStreet, Inc. has a 1 year low of $6.79 and a 1 year high of $17.76. The company has a 50 day simple moving average of $16.13 and a two-hundred day simple moving average of $13.24. The firm has a market cap of $922.15 million, a P/E ratio of -11.67 and a beta of 1.14.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings data on Wednesday, February 7th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). QuinStreet had a negative net margin of 14.28% and a negative return on equity of 32.98%. The company had revenue of $122.68 million for the quarter, compared to analysts’ expectations of $116.46 million. On average, sell-side analysts anticipate that QuinStreet, Inc. will post -0.41 earnings per share for the current year.

QuinStreet Company Profile

QuinStreet, Inc, an online performance marketing company, provides customer acquisition services for its clients in the United States and internationally. The company offers online marketing services, such as qualified clicks, leads, calls, applications, and customers through its websites or third-party publishers.