Hsbc Holdings PLC Invests $3.51 Million in QuinStreet, Inc. $QNST

Hsbc Holdings PLC acquired a new position in QuinStreet, Inc. (NASDAQ:QNST) in the second quarter, Holdings Channel.com reports. The firm acquired 238,834 shares of the technology company’s stock, valued at approximately $3,511,000.

Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in QuinStreet by 54.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock worth $36,000 after purchasing an additional 1,066 shares during the period. GAMMA Investing LLC increased its holdings in QuinStreet by 17.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock valued at $65,000 after purchasing an additional 649 shares during the period. Allworth Financial LP bought a new stake in shares of QuinStreet in the 2nd quarter worth approximately $66,000. Farther Finance Advisors LLC increased its stake in shares of QuinStreet by 10.2% during the fourth quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company’s stock valued at $113,000 after buying an additional 730 shares during the period. Finally, Tripletail Wealth Management LLC lifted its holdings in QuinStreet by 35.2% in the fourth quarter. Tripletail Wealth Management LLC now owns 9,290 shares of the technology company’s stock worth $133,000 after buying an additional 2,420 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

QuinStreet Trading Up 1.5%

Shares of QNST opened at $19.18 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.22. QuinStreet, Inc. has a fifty-two week low of $10.28 and a fifty-two week high of $22.29. The company’s fifty day moving average is $17.19 and its 200 day moving average is $13.90. The stock has a market capitalization of $1.09 billion, a PE ratio of 13.60 and a beta of 0.66.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. The business had revenue of $373.88 million for the quarter, compared to the consensus estimate of $359.95 million. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. Sell-side analysts expect that QuinStreet, Inc. will post 1.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Douglas Valenti sold 751,631 shares of QuinStreet stock in a transaction on Friday, August 7th. The stock was sold at an average price of $20.50, for a total value of $15,408,435.50. Following the transaction, the chief executive officer directly owned 996,278 shares in the company, valued at approximately $20,423,699. This trade represents a 43.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Wong sold 11,704 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $20.44, for a total transaction of $239,229.76. Following the completion of the transaction, the chief financial officer owned 481,786 shares of the company’s stock, valued at $9,847,705.84. This represents a 2.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 862,026 shares of company stock worth $17,423,897. 5.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

QNST has been the topic of several recent research reports. Lake Street Capital upgraded QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Friday, August 7th. Weiss Ratings raised QuinStreet from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday. B. Riley Financial reaffirmed a “buy” rating on shares of QuinStreet in a report on Friday, August 7th. Wall Street Zen raised QuinStreet from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Zacks Research raised QuinStreet from a “strong sell” rating to a “hold” rating in a report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

About QuinStreet

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.