QuinStreet (QNST) Trading Down 6.4% on Insider Selling

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QuinStreet Inc (NASDAQ:QNST) shares dropped 6.4% during mid-day trading on Friday following insider selling activity. The stock traded as low as $13.34 and last traded at $13.65. Approximately 1,177,291 shares were traded during trading, an increase of 76% from the average daily volume of 670,425 shares. The stock had previously closed at $14.59.

Specifically, Director James R. Simons sold 2,605 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $15.01, for a total transaction of $39,101.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas Valenti sold 38,320 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $14.34, for a total transaction of $549,508.80. Following the transaction, the chief executive officer now directly owns 287,919 shares in the company, valued at $4,128,758.46. The disclosure for this sale can be found here. Insiders have sold 1,329,595 shares of company stock worth $20,048,003 over the last three months. 12.50% of the stock is owned by insiders.

QNST has been the subject of a number of research analyst reports. BidaskClub downgraded shares of QuinStreet from a “buy” rating to a “hold” rating in a report on Saturday, September 22nd. TheStreet upgraded shares of QuinStreet from a “c+” rating to a “b-” rating in a report on Monday, July 9th. Zacks Investment Research downgraded shares of QuinStreet from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Stephens restated a “buy” rating and set a $16.00 price objective on shares of QuinStreet in a report on Tuesday, August 7th. Finally, Northland Securities initiated coverage on shares of QuinStreet in a report on Thursday, June 21st. They set an “outperform” rating and a $20.00 price objective for the company. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.29.

The firm has a market capitalization of $729.30 million, a PE ratio of 42.66, a PEG ratio of 1.12 and a beta of 0.98.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Tuesday, August 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. QuinStreet had a net margin of 3.94% and a return on equity of 12.72%. The business had revenue of $111.50 million during the quarter, compared to the consensus estimate of $100.62 million. During the same quarter last year, the company posted $0.06 earnings per share. The firm’s quarterly revenue was up 36.8% compared to the same quarter last year. On average, research analysts anticipate that QuinStreet Inc will post 0.53 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio increased its holdings in QuinStreet by 8.5% during the second quarter. Strs Ohio now owns 45,900 shares of the technology company’s stock worth $582,000 after buying an additional 3,600 shares during the last quarter. Systematic Financial Management LP increased its stake in shares of QuinStreet by 3.9% in the second quarter. Systematic Financial Management LP now owns 105,490 shares of the technology company’s stock worth $1,340,000 after purchasing an additional 3,965 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of QuinStreet by 5.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 82,950 shares of the technology company’s stock worth $1,058,000 after purchasing an additional 4,480 shares in the last quarter. Legal & General Group Plc increased its stake in shares of QuinStreet by 7.4% in the second quarter. Legal & General Group Plc now owns 72,828 shares of the technology company’s stock worth $934,000 after purchasing an additional 5,022 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of QuinStreet by 12.7% in the second quarter. Great West Life Assurance Co. Can now owns 48,700 shares of the technology company’s stock worth $619,000 after purchasing an additional 5,479 shares in the last quarter. Institutional investors and hedge funds own 77.62% of the company’s stock.

About QuinStreet (NASDAQ:QNST)

QuinStreet, Inc, an Internet performance marketing and media 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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