PEAK6 LLC Makes New $432,000 Investment in QuinStreet, Inc. $QNST

PEAK6 LLC acquired a new stake in shares of QuinStreet, Inc. (NASDAQ:QNST) in the second quarter, Holdings Channel.com reports. The firm acquired 29,497 shares of the technology company’s stock, valued at approximately $432,000.

Several other institutional investors and hedge funds have also modified their holdings of QNST. PNC Financial Services Group Inc. grew its holdings in QuinStreet by 54.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock worth $36,000 after acquiring an additional 1,066 shares during the period. GAMMA Investing LLC lifted its holdings in QuinStreet by 17.0% in the second quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock valued at $65,000 after acquiring an additional 649 shares during the period. Allworth Financial LP acquired a new position in QuinStreet in the second quarter valued at approximately $66,000. Farther Finance Advisors LLC boosted its position in QuinStreet by 10.2% in the 4th 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. Finally, FJ Capital Management LLC purchased a new stake in QuinStreet in the 3rd quarter worth approximately $135,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

QuinStreet Stock Performance

Shares of QNST stock opened at $20.62 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 1.18. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 14.62 and a beta of 0.66. The stock has a 50 day simple moving average of $16.51 and a 200-day simple moving average of $13.63. QuinStreet, Inc. has a 1-year low of $10.28 and a 1-year high of $22.29.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $373.88 million for the quarter, compared to analysts’ expectations of $359.95 million. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. On average, equities research analysts expect that QuinStreet, Inc. will post 1.06 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas Valenti sold 751,631 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $20.50, for a total transaction of $15,408,435.50. Following the completion of the sale, the chief executive officer owned 996,278 shares of the company’s stock, valued at $20,423,699. The trade was a 43.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 company’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 transaction, the chief financial officer owned 481,786 shares of the company’s stock, valued at approximately $9,847,705.84. This trade represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 862,026 shares of company stock worth $17,423,897 over the last 90 days. 5.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

QuinStreet Company 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.