Pekin Hardy Strauss Inc. Makes New Investment in QuinStreet, Inc. (NASDAQ:QNST)

Pekin Hardy Strauss Inc. bought a new stake in QuinStreet, Inc. (NASDAQ:QNST) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 16,100 shares of the technology company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds also recently made changes to their positions in QNST. Illinois Municipal Retirement Fund increased its position in shares of QuinStreet by 2.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 31,109 shares of the technology company’s stock valued at $399,000 after purchasing an additional 860 shares during the last quarter. SG Americas Securities LLC raised its position in QuinStreet by 6.4% in the fourth quarter. SG Americas Securities LLC now owns 15,066 shares of the technology company’s stock worth $193,000 after acquiring an additional 906 shares during the period. Naples Money Management LLC purchased a new position in QuinStreet in the fourth quarter valued at approximately $38,000. Swiss National Bank lifted its position in shares of QuinStreet by 2.7% during the 3rd quarter. Swiss National Bank now owns 113,000 shares of the technology company’s stock valued at $1,014,000 after buying an additional 3,000 shares during the last quarter. Finally, Dark Forest Capital Management LP boosted its position in QuinStreet by 11.0% during the third quarter. Dark Forest Capital Management LP now owns 34,040 shares of the technology company’s stock worth $305,000 after purchasing an additional 3,379 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

QNST has been the subject of a number of recent analyst reports. StockNews.com raised QuinStreet to a “sell” rating in a report on Saturday, April 13th. Stephens raised their price objective on QuinStreet from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, March 15th. B. Riley initiated coverage on shares of QuinStreet in a research report on Friday, April 19th. They set a “buy” rating and a $21.50 price target on the stock. Finally, Barrington Research lifted their price objective on QuinStreet from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.38.

QuinStreet Stock Down 1.1 %

Shares of QNST opened at $17.89 on Thursday. QuinStreet, Inc. has a 1-year low of $6.79 and a 1-year high of $18.52. The firm’s 50-day moving average price is $16.46 and its 200-day moving average price is $13.74.

QuinStreet (NASDAQ:QNST) last released its earnings results on Wednesday, February 7th. The technology company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). The business had revenue of $122.68 million during the quarter, compared to analysts’ expectations of $116.46 million. QuinStreet had a negative return on equity of 32.98% and a negative net margin of 14.28%. Sell-side analysts anticipate that QuinStreet, Inc. will post -0.43 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Gregory Wong sold 8,407 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $15.03, for a total value of $126,357.21. Following the sale, the chief financial officer now directly owns 295,204 shares of the company’s stock, valued at $4,436,916.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.30% of the stock is currently owned by company insiders.

About QuinStreet

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.