QuinStreet, Inc. (NASDAQ:QNST) Sees Large Drop in Short Interest

QuinStreet, Inc. (NASDAQ:QNST) was the recipient of a significant decline in short interest in June. As of June 15th, there was short interest totalling 1,880,000 shares, a decline of 14.9% from the May 31st total of 2,210,000 shares. Currently, 3.8% of the company’s stock are short sold. Based on an average trading volume of 381,500 shares, the days-to-cover ratio is currently 4.9 days.

Wall Street Analysts Forecast Growth

QNST has been the subject of several recent research reports. StockNews.com upgraded QuinStreet to a “sell” rating in a report on Saturday, April 13th. B. Riley started coverage on QuinStreet in a research report on Friday, April 19th. They set a “buy” rating and a $21.50 target price on the stock. Craig Hallum raised QuinStreet from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, June 18th. Barrington Research reaffirmed an “outperform” rating and set a $22.00 target price on shares of QuinStreet in a research report on Tuesday, May 28th. Finally, Singular Research raised QuinStreet to a “moderate buy” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, QuinStreet presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.88.

QuinStreet Stock Down 3.7 %

QNST stock traded down $0.62 during midday trading on Monday, hitting $15.97. The company’s stock had a trading volume of 363,929 shares, compared to its average volume of 396,900. The stock’s 50-day moving average price is $17.39 and its 200 day moving average price is $15.58. QuinStreet has a 1 year low of $8.08 and a 1 year high of $19.58. The stock has a market cap of $882.77 million, a price-to-earnings ratio of -10.24 and a beta of 1.16.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). QuinStreet had a negative return on equity of 38.56% and a negative net margin of 15.59%. The business had revenue of $168.59 million during the quarter, compared to analysts’ expectations of $166.54 million. As a group, equities analysts forecast that QuinStreet will post -0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. PEAK6 Investments LLC lifted its position in shares of QuinStreet by 3.4% during the 1st quarter. PEAK6 Investments LLC now owns 25,680 shares of the technology company’s stock valued at $454,000 after buying an additional 843 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in shares of QuinStreet by 1.9% during the 1st quarter. Texas Permanent School Fund Corp now owns 45,638 shares of the technology company’s stock valued at $806,000 after buying an additional 847 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of QuinStreet by 2.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 31,109 shares of the technology company’s stock valued at $399,000 after buying an additional 860 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of QuinStreet by 6.4% during the 4th quarter. SG Americas Securities LLC now owns 15,066 shares of the technology company’s stock valued at $193,000 after buying an additional 906 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of QuinStreet by 12.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,188 shares of the technology company’s stock valued at $269,000 after buying an additional 1,694 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

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.