QuinStreet (NASDAQ:QNST) Stock Rating Cut to Hold at Zacks Research

Zacks Research lowered shares of QuinStreet (NASDAQ:QNST) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks reports.

A number of other equities analysts have also issued reports on QNST. Wall Street Zen upgraded shares of QuinStreet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Weiss Ratings downgraded shares of QuinStreet from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Lake Street Capital raised shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Friday, August 7th. B. Riley Financial reiterated a “buy” rating on shares of QuinStreet in a report on Friday, August 7th. Finally, Northland Securities set a $23.00 price objective on shares of QuinStreet in a research note on Thursday, September 17th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.50.

QuinStreet Trading Up 2.5%

Shares of QNST stock opened at $15.40 on Tuesday. QuinStreet has a 1 year low of $10.28 and a 1 year high of $22.29. The firm has a market capitalization of $881.19 million, a PE ratio of 10.92 and a beta of 0.74. The stock has a fifty day moving average of $17.83 and a two-hundred day moving average of $14.93. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.22 and a current ratio of 1.22.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. QuinStreet had a return on equity of 12.73% and a net margin of 6.28%.The company had revenue of $373.88 million for the quarter, compared to analyst estimates of $359.95 million. As a group, research analysts expect that QuinStreet will post 1.06 EPS for the current year.

Insider Activity at QuinStreet

In other news, CEO Douglas Valenti sold 751,631 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $20.50, for a total transaction of $15,408,435.50. Following the completion of the transaction, the chief executive officer owned 996,278 shares in the company, valued at approximately $20,423,699. This trade represents a 43.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Asmau Ahmed sold 15,000 shares of QuinStreet stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $20.85, for a total transaction of $312,750.00. Following the completion of the transaction, the director directly owned 34,979 shares in the company, valued at $729,312.15. This represents a 30.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 829,631 shares of company stock valued at $16,999,952 over the last 90 days. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of QuinStreet

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in QuinStreet by 17.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock worth $65,000 after acquiring an additional 649 shares during the period. PNC Financial Services Group Inc. boosted its holdings in QuinStreet by 54.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock valued at $36,000 after acquiring an additional 1,066 shares during the period. Allworth Financial LP boosted its holdings in QuinStreet by 61.5% during the second quarter. Allworth Financial LP now owns 4,512 shares of the technology company’s stock valued at $66,000 after acquiring an additional 1,718 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of QuinStreet by 1.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 114,470 shares of the technology company’s stock valued at $1,677,000 after purchasing an additional 2,091 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of QuinStreet by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 51,975 shares of the technology company’s stock valued at $623,000 after purchasing an additional 5,378 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.

QuinStreet Company Profile

QuinStreet, Inc is a performance marketing and online marketplace company that connects consumers with brands in industries such as insurance, lending, credit cards, banking, and home services. The company operates digital media properties and uses technology, data, and analytics to help consumers compare products and services from participating providers.

QuinStreet’s platform supports customer acquisition through online inquiries, leads, clicks, calls, and other actions. Its products and services are designed to help businesses reach consumers who are actively researching or seeking financial and home-related services, while providing consumers with information and comparison options.

Founded in 1999, QuinStreet is headquartered in Foster City, California, and primarily serves the United States market.