QuinStreet (NASDAQ:QNST) Stock Price Down 6% – Here’s What Happened

QuinStreet, Inc. (NASDAQ:QNST) shares fell 6% on Friday . The stock traded as low as $23.17 and last traded at $23.23. 108,178 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 416,047 shares. The stock had previously closed at $24.70.

Wall Street Analyst Weigh In

Several equities research analysts have commented on QNST shares. Stephens upped their price target on QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. B. Riley boosted their price objective on QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barrington Research reaffirmed an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a research note on Friday, December 6th. Craig Hallum boosted their price target on QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Lake Street Capital increased their target price on QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, QuinStreet currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

QuinStreet Trading Down 4.3 %

The stock’s 50-day moving average price is $21.51 and its 200-day moving average price is $19.21. The company has a market capitalization of $1.33 billion, a P/E ratio of -59.08 and a beta of 1.07.

QuinStreet (NASDAQ:QNST) last posted its earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $279.22 million for the quarter, compared to analysts’ expectations of $222.68 million. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The firm’s quarterly revenue was up 125.3% compared to the same quarter last year. During the same period last year, the business posted ($0.19) earnings per share. Sell-side analysts expect that QuinStreet, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at QuinStreet

In related news, Director Matthew Glickman sold 30,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total value of $678,900.00. Following the completion of the sale, the director now directly owns 113,140 shares in the company, valued at approximately $2,560,358.20. This represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stuart Huizinga sold 2,980 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $23.00, for a total transaction of $68,540.00. Following the completion of the sale, the director now owns 171,923 shares of the company’s stock, valued at $3,954,229. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,000 shares of company stock valued at $910,374. 5.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE increased its holdings in shares of QuinStreet by 880.3% during the third quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock worth $27,000 after buying an additional 1,250 shares in the last quarter. Quantbot Technologies LP acquired a new position in QuinStreet in the third quarter worth $29,000. Quarry LP increased its stake in shares of QuinStreet by 11,330.0% in the second quarter. Quarry LP now owns 2,286 shares of the technology company’s stock valued at $38,000 after buying an additional 2,266 shares in the last quarter. Victory Capital Management Inc. bought a new stake in QuinStreet during the 2nd quarter worth about $175,000. Finally, Hsbc Holdings PLC increased its position in QuinStreet by 26.1% in the 2nd quarter. Hsbc Holdings PLC now owns 14,000 shares of the technology company’s stock valued at $225,000 after acquiring an additional 2,895 shares in the last quarter. 97.83% of the stock is owned by institutional investors.

About QuinStreet

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.