QuinStreet, Inc. (NASDAQ:QNST) shares were up 5.3% during mid-day trading on Friday . The company traded as high as $6.19 and last traded at $6.15. Approximately 526,799 shares changed hands during mid-day trading, an increase of 356% from the average daily volume of 115,616 shares. The stock had previously closed at $5.84.
Separately, TheStreet upgraded shares of QuinStreet from a “d+” rating to a “c” rating in a research report on Wednesday, June 28th.
The stock has a 50-day moving average price of $4.62 and a 200 day moving average price of $4.06. The stock’s market cap is $279.62 million.
QuinStreet (NASDAQ:QNST) last issued its earnings results on Tuesday, August 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). QuinStreet had a negative return on equity of 2.36% and a negative net margin of 4.07%. The firm had revenue of $81.50 million during the quarter, compared to the consensus estimate of $80.91 million. During the same quarter in the prior year, the business posted $0.02 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts forecast that QuinStreet, Inc. will post $0.21 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP purchased a new stake in QuinStreet in the second quarter worth $241,000. State Street Corp lifted its stake in QuinStreet by 4.5% in the second quarter. State Street Corp now owns 764,300 shares of the technology company’s stock worth $3,184,000 after acquiring an additional 32,730 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its stake in QuinStreet by 167.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 47,400 shares of the technology company’s stock worth $196,000 after acquiring an additional 29,700 shares during the period. Voya Investment Management LLC lifted its stake in QuinStreet by 21.7% in the second quarter. Voya Investment Management LLC now owns 29,642 shares of the technology company’s stock worth $124,000 after acquiring an additional 5,278 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in QuinStreet by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 848,346 shares of the technology company’s stock worth $3,538,000 after acquiring an additional 65,036 shares during the period. 62.87% of the stock is owned by institutional investors.
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QuinStreet, Inc is an online performance marketing company. The Company provides vertically oriented customer acquisition programs for its clients. The Company operating segments include Direct Marketing Services (DMS) business. Its DMS business derives its net revenue from fees earned through the delivery of qualified leads, clicks, calls or customers, and display advertisements, or impressions.
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