Basswood Capital Management L.L.C. Reduces Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Basswood Capital Management L.L.C. reduced its position in QuinStreet, Inc. (NASDAQ:QNST) by 14.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 697,988 shares of the technology company’s stock after selling 121,879 shares during the period. Basswood Capital Management L.L.C. owned 1.24% of QuinStreet worth $13,353,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System grew its position in QuinStreet by 2.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 26,400 shares of the technology company’s stock worth $438,000 after purchasing an additional 600 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of QuinStreet by 2.3% during the third quarter. State of Alaska Department of Revenue now owns 31,544 shares of the technology company’s stock worth $603,000 after buying an additional 712 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of QuinStreet by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 20,539 shares of the technology company’s stock worth $341,000 after buying an additional 719 shares during the last quarter. US Bancorp DE increased its position in QuinStreet by 880.3% in the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,250 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in QuinStreet during the 3rd quarter valued at approximately $29,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QuinStreet

In related news, Director Matthew Glickman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total value of $678,900.00. Following the sale, the director now directly owns 113,140 shares in the company, valued at $2,560,358.20. The trade was a 20.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stuart Huizinga sold 7,020 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $23.21, for a total transaction of $162,934.20. Following the completion of the sale, the director now directly owns 174,903 shares in the company, valued at approximately $4,059,498.63. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on QNST. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Stephens lifted their price objective on shares of QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Craig Hallum boosted their price objective on shares of QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barrington Research raised their target price on shares of QuinStreet from $22.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, B. Riley boosted their price target on shares of QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

QuinStreet Stock Performance

Shares of NASDAQ QNST opened at $22.78 on Monday. The company’s fifty day moving average is $20.31 and its two-hundred day moving average is $18.64. The firm has a market capitalization of $1.28 billion, a P/E ratio of -56.95 and a beta of 1.09. QuinStreet, Inc. has a one year low of $11.22 and a one year high of $26.27.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. QuinStreet had a negative net margin of 2.88% and a negative return on equity of 8.79%. The company had revenue of $279.22 million for the quarter, compared to analyst estimates of $222.68 million. During the same period in the prior year, the business posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 125.3% compared to the same quarter last year. On average, sell-side analysts forecast that QuinStreet, Inc. will post 0.15 earnings per share for the current fiscal year.

QuinStreet Profile

QuinStreet, Inc, an online performance marketing company, provides customer acquisition services for its clients in the United States and internationally. The company offers online marketing services, such as qualified clicks, leads, calls, applications, and customers through its websites or third-party publishers.