QuinStreet, Inc. (QNST) Releases Earnings Results, Misses Expectations By $0.01 EPS
QuinStreet, Inc. (NASDAQ:QNST) released its quarterly earnings results on Tuesday. The technology company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by $0.01, Briefing.com reports. The firm had revenue of $81.50 million during the quarter, compared to analyst estimates of $80.91 million. QuinStreet had a negative return on equity of 4.35% and a negative net margin of 4.62%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS.
QuinStreet (NASDAQ QNST) traded down 1.61% during midday trading on Tuesday, hitting $3.66. The company had a trading volume of 85,047 shares. The stock’s market cap is $166.39 million. QuinStreet has a 12-month low of $2.61 and a 12-month high of $4.63. The company’s 50 day moving average is $3.99 and its 200 day moving average is $3.78.
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A number of large investors have recently made changes to their positions in QNST. Comerica Bank boosted its stake in shares of QuinStreet by 7.0% in the fourth quarter. Comerica Bank now owns 38,052 shares of the technology company’s stock valued at $151,000 after buying an additional 2,503 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of QuinStreet by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 740,205 shares of the technology company’s stock valued at $2,783,000 after buying an additional 18,936 shares during the last quarter. State of Tennessee Treasury Department boosted its stake in shares of QuinStreet by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 31,119 shares of the technology company’s stock valued at $121,000 after buying an additional 4,696 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of QuinStreet by 3.5% in the first quarter. Ameriprise Financial Inc. now owns 186,649 shares of the technology company’s stock valued at $728,000 after buying an additional 6,355 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of QuinStreet during the fourth quarter valued at approximately $178,000. 63.63% of the stock is currently owned by hedge funds and other institutional investors.
Separately, TheStreet upgraded QuinStreet from a “d+” rating to a “c” rating in a report on Wednesday, June 28th.
QuinStreet, Inc is an online performance marketing company. The Company provides vertically oriented customer acquisition programs for its clients. The Company operating segments include Direct Marketing Services (DMS) business. Its DMS business derives its net revenue from fees earned through the delivery of qualified leads, clicks, calls or customers, and display advertisements, or impressions.
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