Heartland Advisors Inc. Invests $6 Million in QuinStreet, Inc. $QNST

Heartland Advisors Inc. purchased a new position in shares of QuinStreet, Inc. (NASDAQ:QNST) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 500,000 shares of the technology company’s stock, valued at approximately $6,005,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in QuinStreet by 59.8% in the 4th quarter. Nordea Investment Management AB now owns 362,042 shares of the technology company’s stock worth $5,174,000 after buying an additional 135,527 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of QuinStreet by 43.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,633,251 shares of the technology company’s stock valued at $23,470,000 after acquiring an additional 496,492 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of QuinStreet by 39.6% during the 4th quarter. Pacer Advisors Inc. now owns 284,833 shares of the technology company’s stock valued at $4,093,000 after acquiring an additional 80,862 shares in the last quarter. OP Asset Management Ltd purchased a new position in shares of QuinStreet during the 1st quarter valued at $1,779,000. Finally, UBS Group AG increased its stake in shares of QuinStreet by 59.6% in the fourth quarter. UBS Group AG now owns 260,318 shares of the technology company’s stock worth $3,741,000 after acquiring an additional 97,226 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

QuinStreet Stock Performance

QNST stock opened at $16.78 on Monday. The firm has a 50 day moving average of $13.54 and a two-hundred day moving average of $13.02. QuinStreet, Inc. has a 12 month low of $10.28 and a 12 month high of $18.02. The company has a market capitalization of $963.84 million, a price-to-earnings ratio of 14.72 and a beta of 0.67. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.23.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. QuinStreet had a net margin of 5.53% and a return on equity of 9.97%. The business had revenue of $346.14 million for the quarter, compared to the consensus estimate of $336.22 million. During the same quarter last year, the firm earned $0.21 EPS. QuinStreet’s revenue for the quarter was up 28.3% on a year-over-year basis. As a group, equities analysts anticipate that QuinStreet, Inc. will post 0.53 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. B. Riley Financial upgraded QuinStreet to a “strong-buy” rating in a report on Thursday, April 2nd. Weiss Ratings upgraded QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 9th. Wall Street Zen lowered QuinStreet from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, Zacks Research downgraded QuinStreet from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Insider Buying and Selling

In other QuinStreet news, CFO Gregory Wong sold 22,057 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $12.19, for a total transaction of $268,874.83. Following the transaction, the chief financial officer directly owned 400,682 shares of the company’s stock, valued at $4,884,313.58. This represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is owned by insiders.

QuinStreet Profile

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.