Zacks Investment Research Lowers QuinStreet (NASDAQ:QNST) to Strong Sell

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Zacks Investment Research downgraded shares of QuinStreet (NASDAQ:QNST) from a hold rating to a strong sell rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “QuinStreet Inc, is a provider of online direct marketing and media services. The Company offers online messaging, email broadcasting, search engine marketing, and brand management services. It caters to education, financial services, healthcare, advertising, and tourism sectors. QuinStreet, Inc. also operates web portal which offers comprehensive consumer information service and companion insurance brokerage service to self-directed insurance shoppers. The Company vigilantly manages brand and regulatory compliance using proprietary technologies and staff. It does not support or use spyware, spam, or promotions that cheat customers. QuinStreet Inc. is headquartered in Foster City, California. “

Other research analysts also recently issued reports about the company. Lake Street Capital initiated coverage on QuinStreet in a research report on Monday, June 24th. They issued a buy rating and a $21.00 price target on the stock. Barrington Research reaffirmed a buy rating and issued a $20.00 price target on shares of QuinStreet in a research report on Thursday, May 16th. Finally, BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. QuinStreet has an average rating of Buy and a consensus price target of $19.00.

Shares of QNST stock opened at $16.02 on Wednesday. The firm has a 50 day moving average of $15.90. QuinStreet has a twelve month low of $12.12 and a twelve month high of $20.02. The company has a market cap of $803.40 million, a P/E ratio of 50.06, a price-to-earnings-growth ratio of 0.95 and a beta of 0.64.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.11). QuinStreet had a net margin of 14.50% and a return on equity of 8.30%. The company had revenue of $116.23 million during the quarter, compared to the consensus estimate of $119.63 million. Sell-side analysts predict that QuinStreet will post 0.35 EPS for the current year.

In other news, Director Andrew T. Sheehan sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $15.25, for a total transaction of $1,525,000.00. Following the sale, the director now directly owns 36,621 shares in the company, valued at $558,470.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robin Josephs sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $16.04, for a total value of $401,000.00. Following the sale, the director now owns 125,404 shares in the company, valued at $2,011,480.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,000 shares of company stock worth $3,054,775. 12.50% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of QuinStreet by 42.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,786 shares of the technology company’s stock valued at $37,000 after purchasing an additional 832 shares during the period. Globeflex Capital L P bought a new stake in shares of QuinStreet during the fourth quarter valued at approximately $77,000. BNP Paribas Arbitrage SA boosted its stake in QuinStreet by 84,154.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,268 shares of the technology company’s stock valued at $124,000 after buying an additional 9,257 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in QuinStreet by 166.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,438 shares of the technology company’s stock valued at $154,000 after buying an additional 5,890 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in QuinStreet in the 4th quarter valued at $173,000. Institutional investors and hedge funds own 95.89% of the company’s stock.

QuinStreet Company 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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