Equitable Trust Co. Reduces Stock Position in QuinStreet, Inc. (NASDAQ:QNST)

Equitable Trust Co. trimmed its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST) by 18.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 89,000 shares of the technology company’s stock after selling 20,560 shares during the quarter. Equitable Trust Co.’s holdings in QuinStreet were worth $1,588,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in QNST. Driehaus Capital Management LLC grew its position in QuinStreet by 28.4% in the fourth quarter. Driehaus Capital Management LLC now owns 2,787,695 shares of the technology company’s stock worth $64,312,000 after acquiring an additional 617,216 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of QuinStreet by 177.8% in the 4th quarter. Invesco Ltd. now owns 946,108 shares of the technology company’s stock worth $21,827,000 after purchasing an additional 605,500 shares during the period. G2 Investment Partners Management LLC purchased a new position in shares of QuinStreet in the 4th quarter worth approximately $7,203,000. BNP Paribas Financial Markets increased its position in shares of QuinStreet by 537.4% during the 4th quarter. BNP Paribas Financial Markets now owns 332,763 shares of the technology company’s stock valued at $7,677,000 after purchasing an additional 280,554 shares during the last quarter. Finally, Oberweis Asset Management Inc. purchased a new stake in QuinStreet during the 4th quarter valued at $5,191,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

QuinStreet Stock Up 0.7%

Shares of QuinStreet stock opened at $16.62 on Friday. The stock’s fifty day moving average is $15.64 and its two-hundred day moving average is $17.98. The company has a market capitalization of $938.53 million, a PE ratio of -1,660.34 and a beta of 0.74. QuinStreet, Inc. has a 52 week low of $14.39 and a 52 week 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, beating analysts’ consensus estimates of $0.06 by $0.15. The firm had revenue of $269.84 million during the quarter, compared to analyst estimates of $270.36 million. QuinStreet had a negative net margin of 0.06% and a positive return on equity of 1.08%. The business’s revenue was up 60.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 earnings per share. As a group, research analysts anticipate that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

QNST has been the subject of a number of analyst reports. Stephens restated an “overweight” rating and issued a $31.00 price target on shares of QuinStreet in a research report on Thursday, May 8th. Lake Street Capital reduced their target price on shares of QuinStreet from $27.00 to $19.00 and set a “hold” rating on the stock in a research note on Thursday, May 8th. Wall Street Zen raised shares of QuinStreet from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. Finally, Barrington Research reiterated an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a report on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, QuinStreet presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

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.