Heartland Advisors Inc. Takes Position in QuinStreet, Inc. $QNST

Heartland Advisors Inc. bought a new position in shares of QuinStreet, Inc. (NASDAQ:QNST) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 600,000 shares of the technology company’s stock, valued at approximately $8,790,000. Heartland Advisors Inc. owned 1.04% of QuinStreet at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of QNST. PNC Financial Services Group Inc. increased its holdings in shares of QuinStreet by 54.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock worth $36,000 after purchasing an additional 1,066 shares during the period. GAMMA Investing LLC grew its position in QuinStreet by 17.0% during the second quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock worth $65,000 after buying an additional 649 shares in the last quarter. Allworth Financial LP bought a new position in QuinStreet during the second quarter valued at about $66,000. Farther Finance Advisors LLC increased its stake in QuinStreet by 10.2% during the fourth 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 period. Finally, Tripletail Wealth Management LLC raised its holdings in QuinStreet by 35.2% in 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 in the last quarter. 97.83% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Douglas Valenti sold 751,631 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $20.50, for a total value of $15,408,435.50. Following the transaction, the chief executive officer directly owned 996,278 shares of the company’s stock, valued at $20,423,699. The trade was a 43.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $20.85, for a total value of $312,750.00. Following the sale, the director owned 34,979 shares in the company, valued at approximately $729,312.15. This trade represents a 30.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 862,026 shares of company stock worth $17,423,897. Insiders own 5.00% of the company’s stock.

QuinStreet Stock Up 1.2%

QNST opened at $20.62 on Friday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 14.62 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.22. The firm’s 50-day simple moving average is $16.51 and its 200-day simple moving average is $13.62. QuinStreet, Inc. has a twelve month low of $10.28 and a twelve month high of $22.29.

QuinStreet (NASDAQ:QNST) last released 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. The firm had revenue of $373.88 million for the quarter, compared to analyst estimates of $359.95 million. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. Equities research analysts anticipate that QuinStreet, Inc. will post 1.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on QNST shares. Weiss Ratings raised QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 9th. Zacks Research raised QuinStreet from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 30th. B. Riley Financial reiterated a “buy” rating on shares of QuinStreet in a research note on Friday, August 7th. Lake Street Capital raised shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of QuinStreet from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, QuinStreet currently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

QuinStreet Company Profile

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.