Hillsdale Investment Management Inc. Cuts Stock Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Hillsdale Investment Management Inc. trimmed its position in QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 11.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 188,770 shares of the technology company's stock after selling 24,900 shares during the period. Hillsdale Investment Management Inc. owned 0.34% of QuinStreet worth $4,355,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew 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 worth $42,724,000 after purchasing an additional 109,892 shares during the last quarter. American Century Companies Inc. increased its position in shares of QuinStreet by 9.9% in the fourth quarter. American Century Companies Inc. now owns 2,228,568 shares of the technology company's stock worth $51,413,000 after acquiring an additional 201,052 shares in the last quarter. State Street Corp grew its position in QuinStreet by 2.1% during the 3rd quarter. State Street Corp now owns 1,989,976 shares of the technology company's stock worth $38,068,000 after purchasing an additional 41,538 shares in the last quarter. Geode Capital Management LLC raised its position in QuinStreet by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company's stock valued at $24,315,000 after buying an additional 36,963 shares during the period. Finally, Portolan Capital Management LLC lifted its position in QuinStreet by 9.6% in the 3rd quarter. Portolan Capital Management LLC now owns 801,693 shares of the technology company's stock worth $15,336,000 after buying an additional 70,408 shares in the last quarter. 97.83% of the stock is owned by institutional investors.

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QuinStreet Stock Down 0.4 %

Shares of NASDAQ:QNST traded down $0.07 during midday trading on Thursday, reaching $18.68. 301,294 shares of the company traded hands, compared to its average volume of 429,856. The firm's fifty day moving average price is $20.96 and its two-hundred day moving average price is $20.96. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -84.91 and a beta of 1.13. QuinStreet, Inc. has a 12 month low of $15.20 and a 12 month high of $26.27.

QuinStreet (NASDAQ:QNST - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The technology company reported ($0.03) earnings per share (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%. Analysts forecast that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other news, CFO Gregory Wong sold 8,516 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $22.88, for a total value of $194,846.08. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas Valenti sold 10,000 shares of QuinStreet stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total transaction 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. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on QNST shares. Barrington Research reissued an "outperform" rating and issued a $29.00 price objective on shares of QuinStreet in a research report on Wednesday. Lake Street Capital lifted their price objective on QuinStreet from $25.00 to $27.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. B. Riley reaffirmed a "buy" rating and set a $34.00 price objective (up from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Finally, StockNews.com raised QuinStreet from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, QuinStreet presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.80.

About QuinStreet

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.