Basswood Capital Management L.L.C. Has $13.35 Million Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Basswood Capital Management L.L.C. lessened its position in QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 14.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 approximately 1.24% of QuinStreet worth $13,353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE grew its holdings in shares of QuinStreet by 880.3% in the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company's stock worth $27,000 after acquiring an additional 1,250 shares during the last quarter. Quantbot Technologies LP purchased a new position in QuinStreet in the third quarter valued at about $29,000. Quarry LP grew its stake in QuinStreet by 11,330.0% in the second quarter. Quarry LP now owns 2,286 shares of the technology company's stock valued at $38,000 after purchasing an additional 2,266 shares in the last quarter. Victory Capital Management Inc. purchased a new position in QuinStreet in the second quarter valued at about $175,000. Finally, Hsbc Holdings PLC lifted its position in shares of QuinStreet by 26.1% in the second quarter. Hsbc Holdings PLC now owns 14,000 shares of the technology company's stock worth $225,000 after buying an additional 2,895 shares during the last quarter. Institutional investors own 97.83% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on QNST shares. Stephens boosted their price target on QuinStreet from $23.00 to $27.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. StockNews.com upgraded QuinStreet from a "sell" rating to a "hold" rating in a research note on Wednesday, November 20th. Lake Street Capital boosted their price target on QuinStreet from $20.00 to $25.00 and gave the company a "hold" rating in a research note on Tuesday, November 5th. B. Riley upped their price objective on QuinStreet from $24.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, Craig Hallum upped their price objective on QuinStreet from $25.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.00.

Insider Buying and Selling

In other news, Director Matthew Glickman sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total transaction of $678,900.00. Following the completion of the transaction, the director now directly owns 113,140 shares of the company's stock, valued at $2,560,358.20. This trade represents a 20.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stuart Huizinga sold 7,020 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $23.21, for a total transaction of $162,934.20. Following the transaction, the director now directly owns 174,903 shares of the company's stock, valued at $4,059,498.63. This represents 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 owned by company insiders.

QuinStreet Price Performance

Shares of QNST stock traded up $0.18 during trading hours on Monday, reaching $22.96. The company had a trading volume of 347,408 shares, compared to its average volume of 413,451. QuinStreet, Inc. has a 1-year low of $11.22 and a 1-year high of $26.27. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -56.95 and a beta of 1.09. The company has a 50 day moving average of $20.31 and a 200 day moving average of $18.64.

QuinStreet (NASDAQ:QNST - Get Free Report) last posted its earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.07. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The business had revenue of $279.22 million during the quarter, compared to analysts' expectations of $222.68 million. During the same period in the prior year, the business earned ($0.19) EPS. QuinStreet's revenue for the quarter was up 125.3% compared to the same quarter last year. As a group, sell-side analysts forecast 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.