Envestnet Asset Management Inc. lifted its stake in shares of QuinStreet Inc (NASDAQ:QNST) by 32.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,673 shares of the technology company’s stock after acquiring an additional 28,273 shares during the quarter. Envestnet Asset Management Inc.’s holdings in QuinStreet were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its holdings in QuinStreet by 4.5% in the second quarter. BlackRock Inc. now owns 6,740,054 shares of the technology company’s stock worth $106,829,000 after purchasing an additional 290,290 shares in the last quarter. Private Capital Management LLC boosted its position in shares of QuinStreet by 0.8% during the second quarter. Private Capital Management LLC now owns 3,465,578 shares of the technology company’s stock valued at $54,929,000 after buying an additional 26,663 shares during the last quarter. Bank of America Corp DE boosted its position in shares of QuinStreet by 57.2% during the second quarter. Bank of America Corp DE now owns 2,642,499 shares of the technology company’s stock valued at $41,883,000 after buying an additional 961,915 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of QuinStreet by 1.4% during the second quarter. Vanguard Group Inc. now owns 2,571,243 shares of the technology company’s stock valued at $40,754,000 after buying an additional 35,539 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of QuinStreet by 44.3% during the second quarter. Victory Capital Management Inc. now owns 2,257,664 shares of the technology company’s stock valued at $35,784,000 after buying an additional 693,104 shares during the last quarter. Institutional investors own 99.22% of the company’s stock.
QNST stock opened at $13.01 on Thursday. The stock’s fifty day simple moving average is $12.60 and its two-hundred day simple moving average is $14.07. QuinStreet Inc has a 1-year low of $10.15 and a 1-year high of $20.02. The stock has a market cap of $650.01 million, a P/E ratio of 53.00, a P/E/G ratio of 1.16 and a beta of 0.73.
QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). QuinStreet had a return on equity of 6.53% and a net margin of 13.73%. The business had revenue of $121.96 million during the quarter, compared to analysts’ expectations of $128.92 million. During the same period in the prior year, the firm posted $0.13 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities research analysts forecast that QuinStreet Inc will post 0.44 earnings per share for the current year.
In other QuinStreet news, CEO Douglas Valenti sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $12.59, for a total value of $409,175.00. Following the transaction, the chief executive officer now owns 362,501 shares of the company’s stock, valued at $4,563,887.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.10% of the stock is currently owned by insiders.
Several brokerages recently issued reports on QNST. Northland Securities reaffirmed a “buy” rating and set a $18.00 target price on shares of QuinStreet in a research report on Monday, August 12th. Zacks Investment Research cut QuinStreet from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 17th. BidaskClub raised QuinStreet from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Stephens set a $19.00 target price on QuinStreet and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Barrington Research cut their target price on QuinStreet from $20.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. QuinStreet currently has an average rating of “Buy” and an average price target of $18.60.
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.
Recommended Story: High-Yield Dividend Stocks
Want to see what other hedge funds are holding QNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QuinStreet Inc (NASDAQ:QNST).
Receive News & Ratings for QuinStreet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuinStreet and related companies with MarketBeat.com's FREE daily email newsletter.