PDT Partners LLC Acquires Shares of 27,877 QuinStreet, Inc. (NASDAQ:QNST)

PDT Partners LLC purchased a new position in shares of QuinStreet, Inc. (NASDAQ:QNST - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,877 shares of the technology company's stock, valued at approximately $533,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of QuinStreet by 1.3% during the 1st 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 period. FMR LLC grew its holdings in QuinStreet by 5.2% in the third 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 period. American Century Companies Inc. raised its stake in shares of QuinStreet by 27.5% during the 2nd quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company's stock worth $33,763,000 after buying an additional 438,947 shares during the period. Driehaus Capital Management LLC raised its stake in shares of QuinStreet by 17.6% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company's stock worth $25,050,000 after buying an additional 225,720 shares during the period. Finally, Millennium Management LLC lifted its position in shares of QuinStreet by 7.5% during the 2nd quarter. Millennium Management LLC now owns 804,223 shares of the technology company's stock valued at $13,342,000 after buying an additional 55,889 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Lake Street Capital upped their price objective on shares of QuinStreet from $20.00 to $25.00 and gave the stock a "hold" rating in a research report on Tuesday, November 5th. Stephens raised their price target on shares of QuinStreet from $23.00 to $27.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. StockNews.com raised shares of QuinStreet from a "sell" rating to a "hold" rating in a report on Monday. Craig Hallum increased their price target on QuinStreet from $25.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Finally, Barrington Research upped their target price on QuinStreet from $22.00 to $29.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, QuinStreet presently has an average rating of "Moderate Buy" and a consensus target price of $29.00.

QuinStreet Trading Down 3.8 %

QNST stock traded down $0.88 during midday trading on Tuesday, hitting $22.26. 523,668 shares of the company's stock were exchanged, compared to its average volume of 415,068. QuinStreet, Inc. has a 1-year low of $11.22 and a 1-year high of $26.27. The stock has a market capitalization of $1.25 billion, a PE ratio of -55.65 and a beta of 1.07. The business has a 50-day simple moving average of $20.43 and a two-hundred day simple moving average of $18.70.

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

Insider Buying and Selling at QuinStreet

In other news, Director Matthew Glickman sold 30,000 shares of the firm's stock in a transaction 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 sale, the director now directly owns 113,140 shares in the company, valued at approximately $2,560,358.20. This trade represents a 20.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stuart Huizinga sold 2,980 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $23.00, for a total value of $68,540.00. Following the sale, the director now owns 171,923 shares of the company's stock, valued at approximately $3,954,229. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock valued at $910,374 over the last quarter. 5.00% of the stock is owned by company insiders.

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.