Hillsdale Investment Management Inc. Decreases Stake in QuinStreet, Inc. (NASDAQ:QNST)

Hillsdale Investment Management Inc. lessened its position in shares of QuinStreet, Inc. (NASDAQ:QNST) by 11.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,770 shares of the technology company’s stock after selling 24,900 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in QuinStreet were worth $4,355,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of QuinStreet in the 3rd quarter worth about $291,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in QuinStreet in the third quarter worth about $477,000. Intech Investment Management LLC increased its stake in QuinStreet by 184.9% during the third quarter. Intech Investment Management LLC now owns 46,183 shares of the technology company’s stock worth $883,000 after acquiring an additional 29,973 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in QuinStreet by 8.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company’s stock valued at $9,480,000 after purchasing an additional 40,236 shares during the period. Finally, FMR LLC lifted its stake in shares of QuinStreet by 5.2% in the 3rd quarter. FMR LLC now owns 2,233,345 shares of the technology company’s stock valued at $42,724,000 after purchasing an additional 109,892 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Analysts Set New Price Targets

QNST has been the topic of several analyst reports. StockNews.com raised QuinStreet from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. B. Riley reiterated a “buy” rating and set a $34.00 price objective (up previously from $32.00) on shares of QuinStreet in a research report on Friday, February 7th. Barrington Research reaffirmed an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a research note on Friday, February 7th. Finally, Lake Street Capital increased their price objective on shares of QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.80.

QuinStreet Trading Up 1.8 %

NASDAQ QNST opened at $18.58 on Friday. The stock has a market cap of $1.05 billion, a PE ratio of -84.45 and a beta of 1.13. QuinStreet, Inc. has a 12 month low of $15.20 and a 12 month high of $26.27. The company’s 50-day moving average price is $21.11 and its 200-day moving average price is $20.96.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Thursday, February 6th. The technology company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. As a group, sell-side analysts forecast that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Gregory Wong sold 8,516 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total transaction of $194,846.08. Following the transaction, the chief financial officer now owns 337,031 shares of the company’s stock, valued at approximately $7,711,269.28. This represents a 2.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas Valenti sold 10,000 shares of QuinStreet stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $25.02, for a total value of $250,200.00. Following the completion of the sale, the chief executive officer now owns 1,836,754 shares of the company’s stock, valued at $45,955,585.08. The trade was a 0.54 % 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.

QuinStreet Company 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.