Assenagon Asset Management S.A. Has $2.11 Million Stock Position in QuinStreet, Inc. (NASDAQ:QNST)

Assenagon Asset Management S.A. lessened its stake in QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 40.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,023 shares of the technology company's stock after selling 73,227 shares during the period. Assenagon Asset Management S.A. owned 0.20% of QuinStreet worth $2,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Riverwater Partners LLC purchased a new stake in shares of QuinStreet during the third quarter worth approximately $289,000. Everence Capital Management Inc. acquired a new stake in shares of QuinStreet during the 3rd quarter worth about $303,000. Inspire Investing LLC acquired a new position in QuinStreet during the third quarter worth approximately $817,000. Kings Path Partners LLC acquired a new position in shares of QuinStreet in the third quarter valued at approximately $259,000. Finally, SG Americas Securities LLC purchased a new stake in shares of QuinStreet in the third quarter valued at approximately $490,000. Institutional investors and hedge funds own 97.83% of the company's stock.

QuinStreet Stock Performance

Shares of NASDAQ:QNST traded down $1.09 during midday trading on Friday, hitting $19.91. The company's stock had a trading volume of 590,614 shares, compared to its average volume of 395,989. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -34.53 and a beta of 1.11. The stock's 50 day simple moving average is $19.16 and its 200 day simple moving average is $18.02. QuinStreet, Inc. has a fifty-two week low of $10.41 and a fifty-two week high of $21.89.

QuinStreet (NASDAQ:QNST - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. QuinStreet had a negative return on equity of 13.00% and a negative net margin of 5.11%. The company had revenue of $198.32 million for the quarter, compared to the consensus estimate of $186.39 million. During the same period last year, the business posted ($1.03) earnings per share. The firm's revenue was up 52.2% compared to the same quarter last year. As a group, analysts anticipate that QuinStreet, Inc. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on QNST shares. StockNews.com lowered QuinStreet from a "hold" rating to a "sell" rating in a research note on Thursday. B. Riley raised their target price on QuinStreet from $21.50 to $24.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Barrington Research reaffirmed an "outperform" rating and set a $22.00 price target on shares of QuinStreet in a research note on Friday, August 9th. Finally, Craig Hallum increased their price target on QuinStreet from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, QuinStreet presently has an average rating of "Moderate Buy" and a consensus price target of $22.25.

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.