QuinStreet, Inc. (NASDAQ:QNST) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lowered its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST) by 50.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 270,899 shares of the technology company’s stock after selling 272,215 shares during the period. Balyasny Asset Management L.P. owned about 0.48% of QuinStreet worth $6,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of QNST. Bank of America Corp DE raised its position in shares of QuinStreet by 25.3% during the 4th quarter. Bank of America Corp DE now owns 124,308 shares of the technology company’s stock worth $2,868,000 after purchasing an additional 25,101 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of QuinStreet by 537.4% in the fourth quarter. BNP Paribas Financial Markets now owns 332,763 shares of the technology company’s stock valued at $7,677,000 after acquiring an additional 280,554 shares in the last quarter. Allegheny Financial Group lifted its position in shares of QuinStreet by 9.3% in the fourth quarter. Allegheny Financial Group now owns 169,923 shares of the technology company’s stock valued at $3,920,000 after acquiring an additional 14,470 shares in the last quarter. PDT Partners LLC boosted its stake in shares of QuinStreet by 45.3% during the fourth quarter. PDT Partners LLC now owns 40,515 shares of the technology company’s stock valued at $935,000 after acquiring an additional 12,638 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its stake in QuinStreet by 130.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 39,900 shares of the technology company’s stock valued at $920,000 after purchasing an additional 22,600 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

QuinStreet Trading Down 5.0 %

Shares of QuinStreet stock opened at $14.86 on Friday. The stock has a market capitalization of $839.13 million, a P/E ratio of -67.55 and a beta of 0.79. The business’s fifty day moving average price is $17.16 and its 200 day moving average price is $20.35. QuinStreet, Inc. has a twelve month low of $14.39 and a twelve month high of $26.27.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Wednesday, May 7th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.15. QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. The business had revenue of $269.84 million during the quarter, compared to analysts’ expectations of $270.36 million. During the same quarter in the previous year, the business earned $0.06 EPS. The company’s revenue for the quarter was up 60.1% on a year-over-year basis. As a group, sell-side analysts predict that QuinStreet, Inc. will post 0.12 EPS for the current year.

Insider Activity

In related news, CFO Gregory Wong sold 8,516 shares of the stock in a transaction on Tuesday, February 18th. The stock was 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 in the company, valued at approximately $7,711,269.28. This represents a 2.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stephens reaffirmed an “overweight” rating and set a $31.00 price target on shares of QuinStreet in a research note on Thursday. Lake Street Capital lowered their target price on shares of QuinStreet from $27.00 to $19.00 and set a “hold” rating for the company in a research note on Thursday. Barrington Research reissued an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a research note on Wednesday, April 23rd. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, B. Riley reiterated a “buy” rating and set a $34.00 target price (up from $32.00) on shares of QuinStreet in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, QuinStreet has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

QuinStreet 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.