Clearbridge Investments LLC acquired a new stake in shares of QuinStreet Inc (NASDAQ:QNST) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 709,271 shares of the technology company’s stock, valued at approximately $9,497,000. Clearbridge Investments LLC owned approximately 1.41% of QuinStreet at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QNST. Rhumbline Advisers raised its position in shares of QuinStreet by 34.4% during the 4th quarter. Rhumbline Advisers now owns 116,480 shares of the technology company’s stock valued at $1,890,000 after acquiring an additional 29,790 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of QuinStreet by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 15,475 shares of the technology company’s stock valued at $251,000 after acquiring an additional 604 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of QuinStreet during the 4th quarter valued at $379,000. Comerica Bank raised its position in shares of QuinStreet by 4.6% during the 4th quarter. Comerica Bank now owns 37,433 shares of the technology company’s stock valued at $684,000 after acquiring an additional 1,650 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of QuinStreet by 238.7% during the 4th quarter. Mackenzie Financial Corp now owns 84,000 shares of the technology company’s stock valued at $1,363,000 after acquiring an additional 59,200 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.
In other news, Director Andrew T. Sheehan sold 100,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $15.25, for a total transaction of $1,525,000.00. Following the completion of the transaction, the director now directly owns 36,621 shares in the company, valued at approximately $558,470.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robin Josephs sold 25,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $16.04, for a total transaction of $401,000.00. Following the transaction, the director now owns 125,404 shares of the company’s stock, valued at $2,011,480.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,000 shares of company stock valued at $3,054,775. Company insiders own 12.50% of the company’s stock.Shares of NASDAQ QNST opened at $15.94 on Monday. The firm has a market cap of $799.42 million, a price-to-earnings ratio of 49.81, a PEG ratio of 0.95 and a beta of 0.64. QuinStreet Inc has a 1-year low of $12.12 and a 1-year high of $20.02. The business has a fifty day moving average of $15.91.
QuinStreet (NASDAQ:QNST) last announced its earnings results on Thursday, May 9th. The technology company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.11). The company had revenue of $116.23 million during the quarter, compared to analyst estimates of $119.63 million. QuinStreet had a return on equity of 8.30% and a net margin of 14.50%. On average, research analysts anticipate that QuinStreet Inc will post 0.35 earnings per share for the current year.
QNST has been the subject of a number of recent analyst reports. BidaskClub cut shares of QuinStreet from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. Zacks Investment Research upgraded shares of QuinStreet from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Barrington Research restated a “buy” rating and issued a $20.00 price objective on shares of QuinStreet in a research report on Thursday, May 16th. Finally, Lake Street Capital assumed coverage on shares of QuinStreet in a research report on Monday, June 24th. They issued a “buy” rating and a $21.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $19.00.
QuinStreet Company Profile
QuinStreet, Inc, an Internet performance marketing company, provides customer acquisition services for its clients in the United States and internationally. It offers online marketing services to its clients in the form of qualified leads, inquiries, clicks, calls, applications, customers, display advertisements, or impressions through its Websites or third-party publishers.
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