Traders Purchase High Volume of QuinStreet Put Options (QNST)
QuinStreet Inc (NASDAQ:QNST) saw some unusual options trading activity on Tuesday. Stock traders purchased 1,019 put options on the company. This represents an increase of 1,158% compared to the typical daily volume of 81 put options.
In other news, CEO Douglas Valenti sold 38,320 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $14.34, for a total transaction of $549,508.80. Following the transaction, the chief executive officer now directly owns 287,919 shares in the company, valued at approximately $4,128,758.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James R. Simons sold 122,670 shares of the stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $16.74, for a total transaction of $2,053,495.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,472,839 shares of company stock worth $22,415,096. 12.50% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in QuinStreet by 2.1% during the 3rd quarter. BlackRock Inc. now owns 5,668,362 shares of the technology company’s stock worth $76,919,000 after purchasing an additional 118,583 shares in the last quarter. Acadian Asset Management LLC increased its position in QuinStreet by 16.5% during the 3rd quarter. Acadian Asset Management LLC now owns 1,662,070 shares of the technology company’s stock worth $22,556,000 after purchasing an additional 235,643 shares in the last quarter. Dimensional Fund Advisors LP increased its position in QuinStreet by 13.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,516,440 shares of the technology company’s stock worth $20,578,000 after purchasing an additional 183,808 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in QuinStreet during the 3rd quarter worth approximately $10,420,000. Finally, American Century Companies Inc. increased its position in QuinStreet by 1.6% during the 3rd quarter. American Century Companies Inc. now owns 613,994 shares of the technology company’s stock worth $8,332,000 after purchasing an additional 9,803 shares in the last quarter. 80.35% of the stock is owned by hedge funds and other institutional investors.
QNST opened at $16.32 on Wednesday. The company has a market cap of $822.55 million, a P/E ratio of 51.00, a price-to-earnings-growth ratio of 1.23 and a beta of 0.70. QuinStreet has a 1 year low of $8.24 and a 1 year high of $17.75.
QuinStreet (NASDAQ:QNST) last posted its earnings results on Tuesday, October 30th. The technology company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The firm had revenue of $112.90 million during the quarter, compared to the consensus estimate of $103.59 million. QuinStreet had a net margin of 4.60% and a return on equity of 14.14%. The company’s revenue was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. Analysts expect that QuinStreet will post 0.54 earnings per share for the current year.
QuinStreet, Inc, an Internet performance marketing company, provides customer acquisition services for its clients in the United States and internationally. It offers online marketing services to its clients in the form of qualified leads, inquiries, clicks, calls, applications, customers, display advertisements, or impressions through its Websites or third-party publishers.
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