QuinStreet (QNST) Shares Down 6.4% on Insider Selling

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Shares of QuinStreet Inc (NASDAQ:QNST) dropped 6.4% on Friday after an insider sold shares in the company. The stock traded as low as $13.34 and last traded at $13.65. Approximately 1,177,291 shares traded hands during mid-day trading, an increase of 76% from the average daily volume of 670,425 shares. The stock had previously closed at $14.59.

Specifically, Director James R. Simons sold 249,860 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $13.68, for a total value of $3,418,084.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas Valenti sold 38,320 shares of the firm’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $14.34, for a total value of $549,508.80. Following the completion of the sale, the chief executive officer now owns 287,919 shares of the company’s stock, valued at $4,128,758.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,329,595 shares of company stock valued at $20,048,003. 12.50% of the stock is currently owned by corporate insiders.

QNST has been the subject of a number of research reports. TheStreet upgraded QuinStreet from a “c+” rating to a “b-” rating in a research note on Monday, July 9th. Craig Hallum initiated coverage on QuinStreet in a research note on Wednesday, June 27th. They issued a “buy” rating and a $20.00 target price for the company. BidaskClub lowered QuinStreet from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 24th. Zacks Investment Research upgraded QuinStreet from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, August 16th. Finally, Stephens reiterated a “buy” rating and issued a $16.00 price target on shares of QuinStreet in a report on Tuesday, August 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. QuinStreet has an average rating of “Buy” and a consensus target price of $17.29.

The firm has a market cap of $729.30 million, a PE ratio of 42.66, a PEG ratio of 1.12 and a beta of 0.98.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $111.50 million for the quarter, compared to analysts’ expectations of $100.62 million. QuinStreet had a return on equity of 12.72% and a net margin of 3.94%. The firm’s quarterly revenue was up 36.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 earnings per share. As a group, equities analysts expect that QuinStreet Inc will post 0.53 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the stock. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in QuinStreet in the third quarter valued at about $10,420,000. Fox Run Management L.L.C. bought a new position in QuinStreet during the third quarter worth about $189,000. United Services Automobile Association bought a new position in QuinStreet during the second quarter worth about $142,000. Northern Trust Corp boosted its holdings in QuinStreet by 9.1% during the second quarter. Northern Trust Corp now owns 472,317 shares of the technology company’s stock worth $5,999,000 after buying an additional 39,423 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in QuinStreet by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 492,783 shares of the technology company’s stock worth $6,258,000 after buying an additional 7,711 shares during the last quarter. Institutional investors and hedge funds own 77.62% of the company’s stock.

About QuinStreet (NASDAQ:QNST)

QuinStreet, Inc, an Internet performance marketing and media 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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