Globeflex Capital L P Makes New $612,000 Investment in QuinStreet, Inc. $QNST

by · The Cerbat Gem

Globeflex Capital L P acquired a new position in QuinStreet, Inc. (NASDAQ:QNST – Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 50,987 shares of the technology company’s stock, valued at approximately $612,000. Globeflex Capital L P owned about 0.09% of QuinStreet as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its holdings in QuinStreet by 54.4% in 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 in the last quarter. Farther Finance Advisors LLC increased its position in 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 purchasing an additional 730 shares during the period. 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 worth $133,000 after purchasing an additional 2,420 shares in the last quarter. FJ Capital Management LLC bought a new position in QuinStreet in the 3rd quarter worth $135,000. Finally, MQS Management LLC purchased a new stake in shares of QuinStreet in the 4th quarter worth about $159,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QuinStreet

In related news, CFO Gregory Wong sold 22,057 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $12.19, for a total transaction of $268,874.83. Following the sale, the chief financial officer owned 400,682 shares of the company’s stock, valued at $4,884,313.58. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Report on QuinStreet

QuinStreet Price Performance

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

QuinStreet (NASDAQ:QNST – Get Free Report) last announced its earnings results on Thursday, May 7th. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. The firm had revenue of $346.14 million for the quarter, compared to analysts’ expectations of $336.22 million. QuinStreet had a net margin of 5.53% and a return on equity of 9.97%. The company’s quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS. Research analysts predict that QuinStreet, Inc. will post 0.53 earnings per share for the current fiscal year.

QuinStreet Company Profile

(Free Report)

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.

Further Reading

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