Meeder Asset Management Inc. Acquires Shares of 33,072 QuinStreet, Inc. $QNST

Meeder Asset Management Inc. acquired a new position in shares of QuinStreet, Inc. (NASDAQ:QNST) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 33,072 shares of the technology company’s stock, valued at approximately $397,000. Meeder Asset Management Inc. owned 0.06% of QuinStreet at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in shares of QuinStreet by 10.2% during 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 during the last quarter. FJ Capital Management LLC purchased a new position in QuinStreet in the 3rd quarter valued at $135,000. Tripletail Wealth Management LLC grew its position in QuinStreet by 35.2% in the 4th quarter. Tripletail Wealth Management LLC now owns 9,290 shares of the technology company’s stock valued at $133,000 after buying an additional 2,420 shares during the last quarter. Cerity Partners LLC acquired a new position in QuinStreet in the 2nd quarter valued at $170,000. Finally, Amundi acquired a new position in QuinStreet in the 3rd quarter valued at $166,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

QuinStreet Stock Down 5.1%

QuinStreet stock opened at $16.24 on Wednesday. The stock’s 50 day moving average price is $13.71 and its 200 day moving average price is $13.05. QuinStreet, Inc. has a 1-year low of $10.28 and a 1-year high of $18.02. The company has a market cap of $932.83 million, a PE ratio of 14.25 and a beta of 0.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.18 and a quick ratio of 1.18.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.14. QuinStreet had a return on equity of 9.97% and a net margin of 5.53%.The firm had revenue of $346.14 million during the quarter, compared to analysts’ expectations of $336.22 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. QuinStreet’s revenue was up 28.3% compared to the same quarter last year. On average, sell-side analysts predict that QuinStreet, Inc. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling at QuinStreet

In other news, CFO Gregory Wong sold 22,057 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $12.19, for a total value of $268,874.83. Following the completion of the transaction, the chief financial officer owned 400,682 shares in the company, valued at $4,884,313.58. This trade represents a 5.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of QuinStreet from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Weiss Ratings raised shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 9th. Zacks Research lowered shares of QuinStreet from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Finally, B. Riley Financial raised shares of QuinStreet to a “strong-buy” rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

About QuinStreet

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.