IndexIQ Advisors LLC Purchases New Holdings in QuinStreet Inc (NASDAQ:QNST)

IndexIQ Advisors LLC acquired a new position in shares of QuinStreet Inc (NASDAQ:QNST) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 24,077 shares of the technology company’s stock, valued at approximately $194,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in QNST. PNC Financial Services Group Inc. lifted its position in QuinStreet by 56.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,160 shares of the technology company’s stock valued at $64,000 after purchasing an additional 1,509 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in shares of QuinStreet during the 1st quarter worth approximately $83,000. AlphaCrest Capital Management LLC bought a new stake in shares of QuinStreet during the fourth quarter worth approximately $179,000. Bailard Inc. acquired a new position in QuinStreet in the fourth quarter valued at approximately $190,000. Finally, Southside Capital LLC bought a new position in QuinStreet in the fourth quarter valued at approximately $205,000. Hedge funds and other institutional investors own 89.47% of the company’s stock.

QNST has been the topic of a number of analyst reports. Barrington Research reissued a “hold” rating on shares of QuinStreet in a research note on Wednesday, May 13th. Zacks Investment Research raised QuinStreet from a “sell” rating to a “hold” rating in a research note on Wednesday, March 25th. BidaskClub upgraded QuinStreet from a “sell” rating to a “hold” rating in a report on Tuesday. Lake Street Capital lowered their price target on QuinStreet from $19.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Finally, ValuEngine lowered shares of QuinStreet from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. QuinStreet presently has a consensus rating of “Hold” and an average target price of $16.40.

In other news, CEO Douglas Valenti sold 12,500 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $12.56, for a total transaction of $157,000.00. Following the completion of the sale, the chief executive officer now owns 291,667 shares of the company’s stock, valued at $3,663,337.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robin Josephs sold 25,000 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $10.00, for a total transaction of $250,000.00. Following the sale, the director now owns 81,982 shares in the company, valued at $819,820. The disclosure for this sale can be found here. Insiders have sold a total of 190,201 shares of company stock worth $2,105,388 over the last 90 days. Corporate insiders own 11.10% of the company’s stock.

QNST stock opened at $9.61 on Friday. QuinStreet Inc has a 1-year low of $5.76 and a 1-year high of $17.13. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.04. The firm has a market cap of $499.26 million, a PE ratio of 25.97, a P/E/G ratio of 5.13 and a beta of 1.12. The business’s 50-day moving average price is $8.85 and its two-hundred day moving average price is $12.42.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.01). QuinStreet had a return on equity of 8.57% and a net margin of 4.04%. The business had revenue of $128.66 million for the quarter, compared to analyst estimates of $128.75 million. On average, analysts forecast that QuinStreet Inc will post 0.08 earnings per share for the current year.

QuinStreet Profile

QuinStreet, Inc, an Internet performance marketing company, provides customer acquisition services for its clients in the United States and internationally. It offers online marketing services to its clients in the form of qualified leads, inquiries, clicks, calls, applications, customers, display advertisements, or impressions through its Websites or third-party publishers.

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Institutional Ownership by Quarter for QuinStreet (NASDAQ:QNST)

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