Kings Path Partners LLC Cuts Stock Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Kings Path Partners LLC lessened its stake in QuinStreet, Inc. (NASDAQ:QNST) by 38.6% during the first quarter, Holdings Channel reports. The firm owned 17,615 shares of the technology company’s stock after selling 11,085 shares during the period. Kings Path Partners LLC’s holdings in QuinStreet were worth $314,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Arcadia Investment Management Corp MI purchased a new position in shares of QuinStreet in the 4th quarter worth $38,000. KBC Group NV increased its stake in QuinStreet by 64.5% during the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock worth $82,000 after acquiring an additional 1,396 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of QuinStreet by 43.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company’s stock worth $88,000 after purchasing an additional 1,162 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of QuinStreet in the 4th quarter worth about $112,000. Finally, BankPlus Trust Department acquired a new position in shares of QuinStreet in the 4th quarter valued at about $198,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Barrington Research reissued an “outperform” rating and set a $29.00 target price on shares of QuinStreet in a research report on Wednesday, April 23rd. Lake Street Capital decreased their price objective on shares of QuinStreet from $27.00 to $19.00 and set a “hold” rating for the company in a research note on Thursday, May 8th. B. Riley reissued a “buy” rating and issued a $34.00 price objective (up previously from $32.00) on shares of QuinStreet in a research report on Friday, February 7th. Wall Street Zen upgraded shares of QuinStreet from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, Stephens reaffirmed an “overweight” rating and set a $31.00 price target on shares of QuinStreet in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

QuinStreet Stock Performance

QuinStreet stock opened at $15.58 on Friday. The firm has a market capitalization of $879.79 million, a PE ratio of -70.82 and a beta of 0.79. QuinStreet, Inc. has a one year low of $14.39 and a one year high of $26.27. The stock’s 50 day moving average price is $16.45 and its 200 day moving average price is $19.85.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.15. QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. The company had revenue of $269.84 million for the quarter, compared to analyst estimates of $270.36 million. During the same quarter last year, the firm posted $0.06 earnings per share. The business’s quarterly revenue was up 60.1% on a year-over-year basis. On average, analysts forecast that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

QuinStreet 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.