Intech Investment Management LLC Raises Position in QuinStreet, Inc. (NASDAQ:QNST)

Intech Investment Management LLC grew its position in QuinStreet, Inc. (NASDAQ:QNST - Free Report) by 184.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 46,183 shares of the technology company's stock after acquiring an additional 29,973 shares during the period. Intech Investment Management LLC owned 0.08% of QuinStreet worth $883,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of QNST. US Bancorp DE raised its position in QuinStreet by 880.3% in the third quarter. US Bancorp DE now owns 1,392 shares of the technology company's stock valued at $27,000 after purchasing an additional 1,250 shares during the last quarter. Quarry LP raised its holdings in QuinStreet by 11,330.0% in the 2nd quarter. Quarry LP now owns 2,286 shares of the technology company's stock valued at $38,000 after buying an additional 2,266 shares during the last quarter. Victory Capital Management Inc. bought a new position in QuinStreet in the 2nd quarter valued at approximately $175,000. Hsbc Holdings PLC boosted its position in QuinStreet by 26.1% during the 2nd 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 period. Finally, Kings Path Partners LLC bought a new stake in QuinStreet during the 3rd quarter worth approximately $259,000. Institutional investors and hedge funds own 97.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on QNST shares. B. Riley raised their price target on shares of QuinStreet from $24.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. StockNews.com raised QuinStreet from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. Barrington Research increased their price target on QuinStreet from $22.00 to $29.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Craig Hallum raised their price objective on QuinStreet from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Finally, Lake Street Capital upped their target price on QuinStreet from $20.00 to $25.00 and gave the company a "hold" rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, QuinStreet presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.

Insider Buying and Selling at QuinStreet

In related news, Director Matthew Glickman sold 30,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total value of $678,900.00. Following the transaction, the director now directly owns 113,140 shares in the company, valued at $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 is available at this link. Also, Director Stuart Huizinga sold 7,020 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $23.21, for a total transaction of $162,934.20. Following the sale, the director now owns 174,903 shares of the company's stock, valued at $4,059,498.63. This trade represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.00% of the company's stock.

QuinStreet Price Performance

Shares of NASDAQ:QNST remained flat at $22.78 during midday trading on Friday. The stock had a trading volume of 200,953 shares, compared to its average volume of 413,799. The stock has a fifty day moving average of $20.25 and a 200 day moving average of $18.59. QuinStreet, Inc. has a 12 month low of $11.22 and a 12 month high of $26.27.

QuinStreet (NASDAQ:QNST - Get Free Report) last posted its quarterly 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. The firm had revenue of $279.22 million for the quarter, compared to analysts' expectations of $222.68 million. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The company's revenue for the quarter was up 125.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.19) EPS. Analysts anticipate that QuinStreet, Inc. will post 0.15 EPS for the current year.

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.