AlphaQuest LLC Increases Stake in QuinStreet, Inc. $QNST

AlphaQuest LLC grew its stake in shares of QuinStreet, Inc. (NASDAQ:QNST) by 253.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 103,890 shares of the technology company’s stock after purchasing an additional 74,460 shares during the quarter. AlphaQuest LLC’s holdings in QuinStreet were worth $1,607,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QNST. Geode Capital Management LLC lifted its stake in QuinStreet by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,361,252 shares of the technology company’s stock worth $21,918,000 after purchasing an additional 29,783 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of QuinStreet by 1,443.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,136,759 shares of the technology company’s stock worth $17,586,000 after purchasing an additional 1,063,107 shares during the last quarter. Marshall Wace LLP lifted its position in shares of QuinStreet by 46.7% in the second quarter. Marshall Wace LLP now owns 882,021 shares of the technology company’s stock worth $14,201,000 after buying an additional 280,942 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of QuinStreet by 47.6% in the second quarter. Qube Research & Technologies Ltd now owns 832,872 shares of the technology company’s stock worth $13,409,000 after buying an additional 268,511 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in QuinStreet by 0.4% during the second quarter. First Eagle Investment Management LLC now owns 725,874 shares of the technology company’s stock valued at $11,687,000 after buying an additional 3,051 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on QNST. B. Riley lifted their price objective on QuinStreet from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Barrington Research reissued an “outperform” rating and issued a $24.00 target price on shares of QuinStreet in a report on Monday, January 5th. Finally, Weiss Ratings downgraded shares of QuinStreet from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, QuinStreet has a consensus rating of “Hold” and an average price target of $24.75.

QuinStreet Stock Performance

Shares of QuinStreet stock opened at $13.29 on Friday. The stock has a market cap of $754.21 million, a price-to-earnings ratio of 69.95 and a beta of 0.70. The stock has a 50 day moving average price of $14.48 and a 200-day moving average price of $14.99. QuinStreet, Inc. has a one year low of $12.98 and a one year high of $25.50.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.13. The company had revenue of $285.85 million for the quarter, compared to analyst estimates of $279.73 million. QuinStreet had a return on equity of 6.91% and a net margin of 0.96%.QuinStreet’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. Sell-side analysts predict that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

About QuinStreet

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.