Granite Point Capital Management L.P. trimmed its holdings in shares of QuinStreet Inc (NASDAQ:QNST) by 66.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,000 shares of the technology company’s stock after selling 80,000 shares during the period. Granite Point Capital Management L.P. owned 0.08% of QuinStreet worth $649,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of QuinStreet during the fourth quarter worth approximately $8,034,000. ClariVest Asset Management LLC raised its stake in shares of QuinStreet by 54.1% during the fourth quarter. ClariVest Asset Management LLC now owns 146,910 shares of the technology company’s stock worth $2,383,000 after buying an additional 51,579 shares during the last quarter. Chartwell Investment Partners LLC bought a new stake in shares of QuinStreet during the fourth quarter worth approximately $1,286,000. Rhumbline Advisers raised its stake in shares of QuinStreet by 34.4% during the fourth quarter. Rhumbline Advisers now owns 116,480 shares of the technology company’s stock worth $1,890,000 after buying an additional 29,790 shares during the last quarter. Finally, Falcon Point Capital LLC bought a new stake in shares of QuinStreet during the fourth quarter worth approximately $386,000. 84.23% of the stock is owned by institutional investors and hedge funds.

QNST has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of QuinStreet from a “hold” rating to a “sell” rating in a research note on Thursday. BidaskClub raised shares of QuinStreet from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 4th. Craig Hallum reissued a “buy” rating on shares of QuinStreet in a research note on Wednesday, October 31st. Finally, ValuEngine downgraded shares of QuinStreet from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.79.

Shares of NASDAQ QNST opened at $14.85 on Monday. The company has a market cap of $728.01 million, a P/E ratio of 46.41, a PEG ratio of 1.09 and a beta of 0.73. QuinStreet Inc has a 52-week low of $9.76 and a 52-week high of $20.02.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings data on Thursday, February 7th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. The firm had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $103.43 million. QuinStreet had a net margin of 15.83% and a return on equity of 13.16%. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. Equities analysts forecast that QuinStreet Inc will post 0.54 EPS for the current year.

In related news, Director Gregory P. Sands sold 61,697 shares of the business’s stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $15.95, for a total transaction of $984,067.15. Following the completion of the transaction, the director now owns 356,252 shares in the company, valued at $5,682,219.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas Valenti sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $16.15, for a total transaction of $524,875.00. Following the transaction, the chief executive officer now owns 268,751 shares of the company’s stock, valued at approximately $4,340,328.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,496 shares of company stock valued at $1,790,786. Corporate insiders own 12.50% of the company’s stock.

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QuinStreet Profile

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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Institutional Ownership by Quarter for QuinStreet (NASDAQ:QNST)

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