Short Interest in QuinStreet, Inc. (NASDAQ:QNST) Increases By 25.6%
by Michael Walen · The Markets DailyQuinStreet, Inc. (NASDAQ:QNST – Get Free Report) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 3,664,106 shares, a growth of 25.6% from the February 12th total of 2,917,908 shares. Based on an average daily volume of 846,211 shares, the days-to-cover ratio is presently 4.3 days. Currently, 6.8% of the company’s stock are sold short. Currently, 6.8% of the company’s stock are sold short. Based on an average daily volume of 846,211 shares, the days-to-cover ratio is presently 4.3 days.
Hedge Funds Weigh In On QuinStreet
A number of institutional investors and hedge funds have recently added to or reduced their stakes in QNST. Assenagon Asset Management S.A. increased its position in QuinStreet by 1,443.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,136,759 shares of the technology company’s stock valued at $17,586,000 after acquiring an additional 1,063,107 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in QuinStreet by 1,000.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 900,264 shares of the technology company’s stock valued at $12,937,000 after purchasing an additional 1,000,264 shares during the period. Millennium Management LLC increased its position in shares of QuinStreet by 213.3% in the 1st quarter. Millennium Management LLC now owns 714,482 shares of the technology company’s stock valued at $12,746,000 after buying an additional 486,406 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of QuinStreet by 42.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,595,184 shares of the technology company’s stock worth $22,923,000 after acquiring an additional 472,407 shares in the last quarter. Finally, Algert Global LLC lifted its stake in QuinStreet by 161.4% in the third quarter. Algert Global LLC now owns 580,853 shares of the technology company’s stock valued at $8,986,000 after buying an additional 358,610 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Barrington Research restated an “outperform” rating and set a $24.00 price objective on shares of QuinStreet in a research note on Friday, February 6th. B. Riley Financial raised their target price on QuinStreet from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Weiss Ratings upgraded shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 9th. Finally, Lake Street Capital set a $15.00 price objective on QuinStreet in a report on Friday, February 6th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.00.
Get Our Latest Research Report on QNST
QuinStreet Stock Performance
Shares of QuinStreet stock traded up $0.26 during midday trading on Friday, reaching $12.44. 1,107,161 shares of the company’s stock traded hands, compared to its average volume of 813,114. QuinStreet has a 52 week low of $10.28 and a 52 week high of $19.52. The company’s 50 day simple moving average is $12.82 and its 200 day simple moving average is $14.13. The company has a market cap of $708.96 million, a price-to-earnings ratio of 11.41 and a beta of 0.70.
QuinStreet (NASDAQ:QNST – Get Free Report) last posted its earnings results on Thursday, February 5th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. QuinStreet had a net margin of 5.64% and a return on equity of 9.55%. The business had revenue of $287.85 million for the quarter, compared to analyst estimates of $275.07 million. During the same period last year, the business posted $0.20 EPS. QuinStreet’s revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts predict that QuinStreet will post 0.12 earnings per share for the current year.
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.