Thrivent Financial for Lutherans Lowers Position in QuinStreet, Inc. (NASDAQ:QNST)

Thrivent Financial for Lutherans cut its stake in QuinStreet, Inc. (NASDAQ:QNST) by 9.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,687,648 shares of the technology company’s stock after selling 293,554 shares during the quarter. Thrivent Financial for Lutherans’ holdings in QuinStreet were worth $51,415,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of QuinStreet by 1.3% during the first quarter. Vanguard Group Inc. now owns 3,712,518 shares of the technology company’s stock valued at $65,563,000 after acquiring an additional 48,705 shares during the last quarter. American Century Companies Inc. grew its holdings in QuinStreet by 27.5% during the second quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company’s stock valued at $33,763,000 after purchasing an additional 438,947 shares during the period. Driehaus Capital Management LLC grew its holdings in QuinStreet by 17.6% during the second quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company’s stock valued at $25,050,000 after purchasing an additional 225,720 shares during the period. Millennium Management LLC grew its holdings in QuinStreet by 7.5% during the second quarter. Millennium Management LLC now owns 804,223 shares of the technology company’s stock valued at $13,342,000 after purchasing an additional 55,889 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in QuinStreet by 0.7% during the second quarter. First Eagle Investment Management LLC now owns 553,223 shares of the technology company’s stock valued at $9,178,000 after purchasing an additional 4,000 shares during the period. 97.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QuinStreet

In other news, Director Matthew Glickman sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total value of $678,900.00. Following the completion of the sale, the director now owns 113,140 shares of the company’s stock, valued at $2,560,358.20. This represents a 20.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on QNST. B. Riley raised their price target on QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Lake Street Capital boosted their price target on QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Barrington Research boosted their price objective on shares of QuinStreet from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. StockNews.com lowered shares of QuinStreet from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Finally, Craig Hallum boosted their target price 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. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, QuinStreet currently has an average rating of “Moderate Buy” and an average target price of $29.00.

QuinStreet Price Performance

Shares of QNST opened at $20.56 on Tuesday. The firm has a market capitalization of $1.16 billion, a PE ratio of -51.40 and a beta of 1.09. QuinStreet, Inc. has a 1-year low of $10.88 and a 1-year high of $26.27. The company’s fifty day moving average price is $19.75 and its 200-day moving average price is $18.38.

QuinStreet (NASDAQ:QNST) last posted its earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $279.22 million during the quarter, compared to the consensus estimate of $222.68 million. QuinStreet had a negative net margin of 2.88% and a negative return on equity of 8.79%. The firm’s quarterly revenue was up 125.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) earnings per share. As a group, research analysts anticipate that QuinStreet, Inc. will post 0.15 EPS for the current fiscal year.

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.