NewEdge Wealth LLC Takes Position in QuinStreet, Inc. $QNST

NewEdge Wealth LLC bought a new position in QuinStreet, Inc. (NASDAQ:QNST) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 829,840 shares of the technology company’s stock, valued at approximately $12,157,000. NewEdge Wealth LLC owned approximately 1.44% of QuinStreet at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in QuinStreet by 54.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock valued at $36,000 after purchasing an additional 1,066 shares in the last quarter. GAMMA Investing LLC boosted its stake in QuinStreet by 17.0% in the second quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock worth $65,000 after purchasing an additional 649 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in QuinStreet by 10.2% in the fourth quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company’s stock worth $113,000 after purchasing an additional 730 shares in the last quarter. Tripletail Wealth Management LLC grew its holdings in shares of QuinStreet by 35.2% during the fourth quarter. Tripletail Wealth Management LLC now owns 9,290 shares of the technology company’s stock worth $133,000 after purchasing an additional 2,420 shares during the last quarter. Finally, FJ Capital Management LLC bought a new stake in shares of QuinStreet during the third quarter worth $135,000. 97.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other QuinStreet news, 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 sale, the chief financial officer directly owned 481,786 shares of the company’s stock, valued at approximately $9,847,705.84. The trade was a 2.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Asmau Ahmed sold 10,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $20.30, for a total transaction of $203,000.00. Following the transaction, the director owned 24,979 shares in the company, valued at approximately $507,073.70. The trade was a 28.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 862,026 shares of company stock valued at $17,423,897. 5.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

QNST has been the subject of a number of research analyst reports. Weiss Ratings raised QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 9th. Zacks Research raised shares of QuinStreet from a “strong sell” rating to a “hold” rating in a report on Thursday, July 30th. Lake Street Capital upgraded shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Friday, August 7th. B. Riley Financial reaffirmed a “buy” rating on shares of QuinStreet in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of QuinStreet from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

QuinStreet Stock Up 1.4%

NASDAQ QNST opened at $21.06 on Thursday. The stock has a fifty day moving average of $16.18 and a 200-day moving average of $13.53. The stock has a market capitalization of $1.21 billion, a P/E ratio of 14.94 and a beta of 0.66. QuinStreet, Inc. has a 52 week low of $10.28 and a 52 week high of $22.29. 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 (NASDAQ:QNST) last released its earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. QuinStreet had a return on equity of 12.73% and a net margin of 6.28%.The company had revenue of $373.88 million during the quarter, compared to the consensus estimate of $359.95 million. On average, equities research analysts forecast that QuinStreet, Inc. will post 0.94 EPS for the current year.

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.