Millrace Asset Group Inc. Increases Stock Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Millrace Asset Group Inc. boosted its position in QuinStreet, Inc. (NASDAQ:QNST) by 57.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,503 shares of the technology company’s stock after acquiring an additional 68,049 shares during the quarter. QuinStreet accounts for 1.8% of Millrace Asset Group Inc.’s investment portfolio, making the stock its 15th biggest position. Millrace Asset Group Inc. owned 0.35% of QuinStreet worth $3,484,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Impax Asset Management Group plc lifted its stake in shares of QuinStreet by 104.8% in the second quarter. Impax Asset Management Group plc now owns 551,390 shares of the technology company’s stock worth $10,245,000 after acquiring an additional 282,121 shares in the last quarter. Morgan Stanley grew its holdings in QuinStreet by 92.8% in the 1st quarter. Morgan Stanley now owns 378,347 shares of the technology company’s stock worth $7,680,000 after buying an additional 182,069 shares in the last quarter. American Century Companies Inc. grew its holdings in QuinStreet by 11.7% in the 2nd quarter. American Century Companies Inc. now owns 1,695,131 shares of the technology company’s stock worth $31,496,000 after buying an additional 177,929 shares in the last quarter. BlackRock Inc. lifted its position in QuinStreet by 2.2% in the first quarter. BlackRock Inc. now owns 7,966,814 shares of the technology company’s stock worth $161,725,000 after purchasing an additional 168,046 shares during the period. Finally, Royce & Associates LP lifted its position in shares of QuinStreet by 11.6% during the 1st quarter. Royce & Associates LP now owns 1,410,755 shares of the technology company’s stock valued at $28,638,000 after acquiring an additional 147,200 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

In related news, Director Robin Josephs sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 14th. The shares were sold at an average price of $18.69, for a total value of $373,800.00. Following the transaction, the director now owns 55,402 shares in the company, valued at approximately $1,035,463.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Gregory Wong sold 7,979 shares of the company’s stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $17.03, for a total transaction of $135,882.37. Following the sale, the chief financial officer now directly owns 215,135 shares of the company’s stock, valued at approximately $3,663,749.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,922 shares of company stock valued at $652,100. Corporate insiders own 9.00% of the company’s stock.

NASDAQ:QNST traded down $0.03 during trading hours on Tuesday, hitting $17.57. 4,455 shares of the stock traded hands, compared to its average volume of 295,398. QuinStreet, Inc. has a fifty-two week low of $14.61 and a fifty-two week high of $25.99. The firm has a market cap of $950.98 million, a price-to-earnings ratio of 40.52 and a beta of 0.88. The firm has a 50 day moving average price of $17.94 and a 200 day moving average price of $18.99.

QuinStreet (NASDAQ:QNST) last posted its earnings results on Wednesday, August 4th. The technology company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.13. QuinStreet had a net margin of 4.14% and a return on equity of 8.43%. The firm had revenue of $151.20 million for the quarter, compared to the consensus estimate of $142.36 million. During the same period in the prior year, the business posted $0.14 earnings per share. The business’s quarterly revenue was up 29.3% on a year-over-year basis. Equities analysts anticipate that QuinStreet, Inc. will post 0.37 EPS for the current fiscal year.

About QuinStreet

QuinStreet, Inc engages in the provision of media management services. It operates through the United States and International geographical segments. Its platform offers performance marketing products based from number of clicks, inquiries, calls, applications, and full customer acquisitions. The company was founded by Douglas Valenti on April 16, 1999 and is headquartered in Foster City, CA.

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Institutional Ownership by Quarter for QuinStreet (NASDAQ:QNST)

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