QuinStreet (NASDAQ:QNST) Trading Down 11.6% Following Weak Earnings

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report)'s share price dropped 11.6% on Friday following a dissappointing earnings announcement. The stock traded as low as $21.57 and last traded at $22.26. Approximately 340,337 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 444,577 shares. The stock had previously closed at $25.17.

The technology company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). QuinStreet had a negative return on equity of 4.16% and a negative net margin of 1.31%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Lake Street Capital raised their target price on shares of QuinStreet from $25.00 to $27.00 and gave the company a "hold" rating in a research note on Friday. Stephens raised their price objective on QuinStreet from $23.00 to $27.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Craig Hallum increased their target price on QuinStreet from $25.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Barrington Research reiterated an "outperform" rating and set a $29.00 target price on shares of QuinStreet in a report on Friday. Finally, StockNews.com upgraded QuinStreet from a "sell" rating to a "hold" rating in a report on Monday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, QuinStreet currently has a consensus rating of "Moderate Buy" and an average price target of $29.80.

Insider Buying and Selling

In other news, Director Stuart Huizinga sold 7,020 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $23.21, for a total value of $162,934.20. Following the completion of the sale, the director now owns 174,903 shares of the company's stock, valued at approximately $4,059,498.63. The trade was a 3.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas Valenti sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total value of $250,200.00. Following the transaction, the chief executive officer now directly owns 1,836,754 shares in the company, valued at approximately $45,955,585.08. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,000 shares of company stock worth $481,674. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuinStreet

Several institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its stake in QuinStreet by 880.3% during 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. Quantbot Technologies LP bought a new stake in shares of QuinStreet during the 3rd quarter valued at about $29,000. Arcadia Investment Management Corp MI bought a new stake in shares of QuinStreet during the 4th quarter valued at about $38,000. KBC Group NV raised its stake in QuinStreet by 64.5% during the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company's stock worth $82,000 after acquiring an additional 1,396 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in QuinStreet by 43.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company's stock worth $88,000 after acquiring an additional 1,162 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

QuinStreet Stock Up 0.3 %

The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -104.98 and a beta of 1.06. The stock has a 50 day simple moving average of $22.74 and a 200 day simple moving average of $20.67.

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.