QuinStreet, Inc. $QNST Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC decreased its stake in shares of QuinStreet, Inc. (NASDAQ:QNST) by 26.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 889,255 shares of the technology company’s stock after selling 318,439 shares during the quarter. NewEdge Wealth LLC owned about 1.55% of QuinStreet worth $10,680,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its stake in shares of QuinStreet by 54.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock worth $36,000 after acquiring an additional 1,066 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of QuinStreet by 10.2% during the 4th quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company’s stock valued at $113,000 after acquiring an additional 730 shares during the last quarter. Tripletail Wealth Management LLC boosted its position in shares of QuinStreet by 35.2% during the 4th quarter. Tripletail Wealth Management LLC now owns 9,290 shares of the technology company’s stock valued at $133,000 after acquiring an additional 2,420 shares during the last quarter. FJ Capital Management LLC purchased a new stake in shares of QuinStreet in the third quarter valued at about $135,000. Finally, MQS Management LLC purchased a new stake in shares of QuinStreet in the fourth quarter valued at about $159,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Gregory Wong sold 10,338 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $15.00, for a total transaction of $155,070.00. Following the sale, the chief financial officer directly owned 390,344 shares of the company’s stock, valued at $5,855,160. This represents a 2.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is currently owned by insiders.

QuinStreet Stock Performance

Shares of QuinStreet stock opened at $15.63 on Thursday. The business has a 50-day moving average of $13.80 and a 200 day moving average of $13.06. QuinStreet, Inc. has a 12 month low of $10.28 and a 12 month high of $18.02. The stock has a market capitalization of $897.79 million, a price-to-earnings ratio of 13.71 and a beta of 0.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.18 and a quick ratio of 1.18.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. The company had revenue of $346.14 million for the quarter, compared to analyst estimates of $336.22 million. QuinStreet had a net margin of 5.53% and a return on equity of 9.97%. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. As a group, sell-side analysts forecast that QuinStreet, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on QNST. B. Riley Financial raised shares of QuinStreet to a “strong-buy” rating in a research note on Thursday, April 2nd. Weiss Ratings raised shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 9th. Wall Street Zen downgraded shares of QuinStreet from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Zacks Research lowered shares of QuinStreet from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

About QuinStreet

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.