Rutabaga Capital Management LLC MA lowered its position in QuinStreet Inc (NASDAQ:QNST) by 8.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 272,890 shares of the technology company’s stock after selling 24,750 shares during the period. Rutabaga Capital Management LLC MA owned 0.56% of QuinStreet worth $3,703,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new position in QuinStreet in the second quarter worth approximately $109,000. SG Americas Securities LLC bought a new position in shares of QuinStreet in the second quarter valued at approximately $116,000. Thompson Siegel & Walmsley LLC bought a new position in shares of QuinStreet in the second quarter valued at approximately $123,000. Advisors Preferred LLC bought a new position in shares of QuinStreet in the second quarter valued at approximately $126,000. Finally, United Services Automobile Association bought a new position in shares of QuinStreet in the second quarter valued at approximately $142,000. Institutional investors and hedge funds own 79.80% of the company’s stock.
QNST stock opened at $13.95 on Wednesday. QuinStreet Inc has a twelve month low of $8.24 and a twelve month high of $17.75. The company has a market capitalization of $713.22 million, a PE ratio of 43.59, a P/E/G ratio of 1.07 and a beta of 0.70.
QuinStreet (NASDAQ:QNST) last posted its earnings results on Tuesday, October 30th. The technology company reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. The company had revenue of $112.90 million for the quarter, compared to analyst estimates of $103.59 million. QuinStreet had a return on equity of 14.14% and a net margin of 4.60%. The company’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. On average, sell-side analysts forecast that QuinStreet Inc will post 0.54 EPS for the current fiscal year.
A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded QuinStreet from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, November 7th. BidaskClub lowered QuinStreet from a “strong-buy” rating to a “buy” rating in a report on Tuesday. William Blair assumed coverage on QuinStreet in a report on Thursday, October 4th. They issued an “outperform” rating on the stock. ValuEngine lowered QuinStreet from a “buy” rating to a “hold” rating in a report on Thursday, November 8th. Finally, Craig Hallum restated a “buy” rating on shares of QuinStreet in a report on Wednesday, October 31st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. QuinStreet presently has a consensus rating of “Buy” and an average price target of $17.79.
In related news, CEO Douglas Valenti sold 38,320 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $14.34, for a total transaction of $549,508.80. Following the completion of the sale, the chief executive officer now directly owns 287,919 shares of the company’s stock, valued at $4,128,758.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gregory Wong sold 4,411 shares of the stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $15.22, for a total value of $67,135.42. The disclosure for this sale can be found here. Insiders have sold 1,148,212 shares of company stock valued at $17,982,701 over the last ninety days. 12.50% of the stock is currently owned by company insiders.
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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