QuinStreet (NASDAQ:QNST) Trading 5.7% Higher - Here's Why

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report) shares were up 5.7% during mid-day trading on Tuesday . The company traded as high as $22.73 and last traded at $22.71. Approximately 81,328 shares traded hands during trading, a decline of 80% from the average daily volume of 413,612 shares. The stock had previously closed at $21.48.

Analyst Ratings Changes

A number of research firms have recently commented on QNST. Stephens upped their price target on shares of QuinStreet from $23.00 to $27.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Lake Street Capital upped their target price on shares of QuinStreet from $20.00 to $25.00 and gave the stock a "hold" rating in a research note on Tuesday, November 5th. Craig Hallum lifted their price target on shares of 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 issued a $29.00 price target on shares of QuinStreet in a report on Friday, December 6th. Finally, B. Riley raised their price objective on QuinStreet from $24.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $29.00.

QuinStreet Stock Up 9.2 %

The stock has a market capitalization of $1.32 billion, a P/E ratio of -58.63 and a beta of 1.07. The stock's 50 day moving average price is $21.24 and its 200-day moving average price is $19.09.

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

Insiders Place Their Bets

In other 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stuart Huizinga sold 2,980 shares of the company's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $23.00, for a total value of $68,540.00. Following the completion of the sale, the director now owns 171,923 shares in the company, valued at approximately $3,954,229. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,000 shares of company stock valued at $910,374. 5.00% of the stock is currently owned by insiders.

Institutional Trading of QuinStreet

Institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. raised its position in QuinStreet by 27.5% during the second quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company's stock valued at $33,763,000 after acquiring an additional 438,947 shares in the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of QuinStreet during the 2nd quarter worth approximately $6,499,000. Driehaus Capital Management LLC increased its holdings 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 valued at $25,050,000 after purchasing an additional 225,720 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of QuinStreet by 248.7% in the 2nd quarter. Squarepoint Ops LLC now owns 174,367 shares of the technology company's stock valued at $2,893,000 after purchasing an additional 124,367 shares during the period. Finally, FMR LLC boosted its holdings in QuinStreet by 5.2% during the third quarter. FMR LLC now owns 2,233,345 shares of the technology company's stock worth $42,724,000 after buying an additional 109,892 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

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.