NewEdge Wealth LLC Cuts Holdings in QuinStreet, Inc. $QNST

NewEdge Wealth LLC lowered its stake in QuinStreet, Inc. (NASDAQ:QNST) by 26.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 889,255 shares of the technology company’s stock after selling 318,439 shares during the period. NewEdge Wealth LLC’s holdings in QuinStreet were worth $10,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of QNST. Vanguard Group Inc. grew its position in shares of QuinStreet by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 4,257,710 shares of the technology company’s stock worth $61,183,000 after buying an additional 133,468 shares in the last quarter. Private Capital Management LLC increased its stake in shares of QuinStreet by 0.4% during the fourth quarter. Private Capital Management LLC now owns 4,171,946 shares of the technology company’s stock worth $59,951,000 after buying an additional 17,690 shares during the period. Millennium Management LLC raised its holdings in QuinStreet by 21.3% in the third quarter. Millennium Management LLC now owns 1,682,060 shares of the technology company’s stock valued at $26,021,000 after acquiring an additional 295,680 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in QuinStreet by 43.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,633,251 shares of the technology company’s stock valued at $23,470,000 after acquiring an additional 496,492 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in QuinStreet by 42.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,595,184 shares of the technology company’s stock worth $22,923,000 after acquiring an additional 472,407 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

QNST has been the subject of several analyst reports. Wall Street Zen cut shares of QuinStreet from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. B. Riley Financial upgraded shares of QuinStreet to a “strong-buy” rating in a report on Thursday, April 2nd. Weiss Ratings raised shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 9th. Finally, Zacks Research downgraded shares of QuinStreet from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.50.

Insider Buying and Selling

In other QuinStreet news, CFO Gregory Wong sold 22,057 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $12.19, for a total value of $268,874.83. Following the completion of the sale, the chief financial officer owned 400,682 shares in the company, valued at approximately $4,884,313.58. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is currently owned by company insiders.

QuinStreet Stock Down 3.8%

QNST opened at $15.63 on Thursday. The business’s 50-day simple moving average is $13.80 and its 200-day simple moving average is $13.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.18 and a current ratio of 1.18. QuinStreet, Inc. has a one year low of $10.28 and a one year high of $18.02. The stock has a market capitalization of $897.79 million, a P/E ratio of 13.71 and a beta of 0.67.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Thursday, May 7th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. The firm had revenue of $346.14 million during the quarter, compared to analysts’ expectations of $336.22 million. QuinStreet had a return on equity of 9.97% and a net margin of 5.53%.The business’s revenue was up 28.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. Analysts anticipate that QuinStreet, Inc. will post 0.53 EPS for the current year.

QuinStreet Profile

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.