Heartland Advisors Inc. Purchases New Holdings in QuinStreet, Inc. $QNST

Heartland Advisors Inc. acquired a new position in shares of QuinStreet, Inc. (NASDAQ:QNST) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 600,000 shares of the technology company’s stock, valued at approximately $8,790,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of QuinStreet during the second quarter valued at $160,805,000. Vanguard Group Inc. boosted its stake in shares of QuinStreet by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 4,257,710 shares of the technology company’s stock valued at $61,183,000 after purchasing an additional 133,468 shares during the last quarter. Private Capital Management LLC raised 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 last quarter. Millennium Management LLC lifted 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 buying an additional 295,680 shares during the period. Finally, Goldman Sachs Group Inc. boosted 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 valued at $22,923,000 after acquiring an additional 472,407 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on QNST shares. Weiss Ratings raised QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 9th. Wall Street Zen raised QuinStreet from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. B. Riley Financial restated a “buy” rating on shares of QuinStreet in a research report on Friday, August 7th. Zacks Research upgraded shares of QuinStreet from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 30th. Finally, Lake Street Capital raised shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

QuinStreet Stock Up 1.2%

QNST stock opened at $20.62 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 1.18. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 14.62 and a beta of 0.66. The business’s fifty day moving average price is $16.51 and its two-hundred day moving average price is $13.62. QuinStreet, Inc. has a fifty-two week low of $10.28 and a fifty-two week high of $22.29.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. QuinStreet had a return on equity of 12.73% and a net margin of 6.28%.The company had revenue of $373.88 million during the quarter, compared to analysts’ expectations of $359.95 million. On average, equities analysts anticipate that QuinStreet, Inc. will post 1.06 earnings per share for the current year.

Insider Buying and Selling at QuinStreet

In related news, CEO Douglas Valenti sold 751,631 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $20.50, for a total value of $15,408,435.50. Following the completion of the sale, the chief executive officer directly owned 996,278 shares in the company, valued at $20,423,699. This represents a 43.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Wong sold 26,296 shares of QuinStreet stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $20.09, for a total value of $528,286.64. Following the transaction, the chief financial officer directly owned 521,883 shares in the company, valued at $10,484,629.47. The trade was a 4.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 862,026 shares of company stock worth $17,423,897. 5.00% of the stock is currently owned by company insiders.

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.