Steward Partners Investment Advisory LLC Makes New Investment in QuinStreet, Inc. (NASDAQ:QNST)

Steward Partners Investment Advisory LLC purchased a new position in QuinStreet, Inc. (NASDAQ:QNST) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 4,844 shares of the technology company’s stock, valued at approximately $112,000.

Several other large investors also recently modified their holdings of QNST. SVB Wealth LLC bought a new stake in shares of QuinStreet in the fourth quarter worth about $3,508,000. JPMorgan Chase & Co. increased its holdings in shares of QuinStreet by 39.7% in the third quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company’s stock worth $8,601,000 after acquiring an additional 127,689 shares in the last quarter. FMR LLC increased its holdings in shares of QuinStreet by 5.2% in the third quarter. FMR LLC now owns 2,233,345 shares of the technology company’s stock worth $42,724,000 after acquiring an additional 109,892 shares in the last quarter. Barclays PLC grew its holdings in shares of QuinStreet by 149.7% during the third quarter. Barclays PLC now owns 127,404 shares of the technology company’s stock worth $2,436,000 after buying an additional 76,389 shares in the last quarter. Finally, Portolan Capital Management LLC grew its holdings in shares of QuinStreet by 9.6% during the third quarter. Portolan Capital Management LLC now owns 801,693 shares of the technology company’s stock worth $15,336,000 after buying an additional 70,408 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $34.00 price objective (up from $32.00) on shares of QuinStreet in a report on Friday, February 7th. Barrington Research reiterated an “outperform” rating and set a $29.00 price objective on shares of QuinStreet in a report on Friday, February 7th. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, Lake Street Capital increased their price objective on QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.80.

QuinStreet Stock Performance

Shares of NASDAQ QNST opened at $17.76 on Monday. The stock has a 50 day moving average price of $21.52 and a 200 day moving average price of $21.00. QuinStreet, Inc. has a 52 week low of $15.20 and a 52 week high of $26.27. The stock has a market capitalization of $1.00 billion, a PE ratio of -80.73 and a beta of 1.13.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings data on Thursday, February 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. As a group, research analysts forecast that QuinStreet, Inc. will post 0.12 EPS for the current year.

Insider Activity

In other news, CEO Douglas Valenti sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total value of $250,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,836,754 shares of the company’s stock, valued at $45,955,585.08. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Gregory Wong sold 8,516 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $22.88, for a total value of $194,846.08. Following the completion of the sale, the chief financial officer now directly owns 337,031 shares of the company’s stock, valued at approximately $7,711,269.28. The trade was a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.

QuinStreet Company 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.