QuinStreet (NASDAQ:QNST) Trading Down 6% - Here's What Happened

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report) was down 6% during mid-day trading on Friday . The stock traded as low as $23.17 and last traded at $23.23. Approximately 108,178 shares were traded during trading, a decline of 74% from the average daily volume of 416,047 shares. The stock had previously closed at $24.70.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Craig Hallum increased their target price on QuinStreet from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. B. Riley increased their price objective on QuinStreet from $24.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Stephens boosted their target price on shares of QuinStreet from $23.00 to $27.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Lake Street Capital increased their price target on shares of QuinStreet from $20.00 to $25.00 and gave the company a "hold" rating in a report on Tuesday, November 5th. Finally, Barrington Research reiterated an "outperform" rating and set a $29.00 price target on shares of QuinStreet in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.00.

QuinStreet Price Performance

The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -59.63 and a beta of 1.07. The firm's 50-day moving average price is $21.60 and its 200 day moving average price is $19.25.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its quarterly 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. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The company had revenue of $279.22 million during the quarter, compared to the consensus estimate of $222.68 million. During the same quarter last year, the business posted ($0.19) earnings per share. QuinStreet's revenue was up 125.3% compared to the same quarter last year. On average, analysts predict that QuinStreet, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at QuinStreet

In other QuinStreet news, Director Matthew Glickman sold 30,000 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was 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 of the company's stock, valued at approximately $2,560,358.20. This trade represents a 20.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stuart Huizinga sold 7,020 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $23.21, for a total transaction of $162,934.20. Following the transaction, the director now directly owns 174,903 shares of the company's stock, valued at approximately $4,059,498.63. This represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,000 shares of company stock worth $910,374. Corporate insiders own 5.00% of the company's stock.

Institutional Investors Weigh In On QuinStreet

A number of institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. boosted its holdings in shares of QuinStreet by 27.5% in the 2nd quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company's stock valued at $33,763,000 after purchasing an additional 438,947 shares during the last quarter. Divisadero Street Capital Management LP purchased a new position in shares of QuinStreet in the 2nd quarter worth $6,499,000. Driehaus Capital Management LLC boosted its holdings in QuinStreet by 17.6% in the second quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company's stock valued at $25,050,000 after acquiring an additional 225,720 shares during the last quarter. JPMorgan Chase & Co. grew its position in QuinStreet by 39.7% during the third quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company's stock valued at $8,601,000 after acquiring an additional 127,689 shares during the period. Finally, Squarepoint Ops LLC increased its stake in QuinStreet by 248.7% during the second quarter. Squarepoint Ops LLC now owns 174,367 shares of the technology company's stock worth $2,893,000 after acquiring an additional 124,367 shares during the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

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.