QuinStreet, Inc. (NASDAQ:QNST) Sees Large Decline in Short Interest

QuinStreet, Inc. (NASDAQ:QNST) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 1,880,000 shares, a decline of 14.9% from the May 31st total of 2,210,000 shares. Based on an average daily trading volume, of 381,500 shares, the days-to-cover ratio is currently 4.9 days. Currently, 3.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in QNST. PEAK6 Investments LLC increased its position in shares of QuinStreet by 3.4% during the first quarter. PEAK6 Investments LLC now owns 25,680 shares of the technology company’s stock valued at $454,000 after purchasing an additional 843 shares during the period. Texas Permanent School Fund Corp increased its position in shares of QuinStreet by 1.9% during the first quarter. Texas Permanent School Fund Corp now owns 45,638 shares of the technology company’s stock valued at $806,000 after purchasing an additional 847 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of QuinStreet by 2.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 31,109 shares of the technology company’s stock valued at $399,000 after purchasing an additional 860 shares during the period. SG Americas Securities LLC increased its position in shares of QuinStreet by 6.4% during the fourth quarter. SG Americas Securities LLC now owns 15,066 shares of the technology company’s stock valued at $193,000 after purchasing an additional 906 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of QuinStreet by 12.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,188 shares of the technology company’s stock valued at $269,000 after purchasing an additional 1,694 shares during the period. 97.83% of the stock is owned by institutional investors.

QuinStreet Stock Down 3.7 %

Shares of NASDAQ QNST opened at $15.97 on Tuesday. The business’s 50 day moving average is $17.39 and its two-hundred day moving average is $15.58. QuinStreet has a 12 month low of $8.08 and a 12 month high of $19.58.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $168.59 million during the quarter, compared to the consensus estimate of $166.54 million. QuinStreet had a negative return on equity of 38.56% and a negative net margin of 15.59%. On average, equities research analysts expect that QuinStreet will post -0.55 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QNST. Craig Hallum upgraded QuinStreet from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Tuesday, June 18th. Singular Research raised QuinStreet to a “moderate buy” rating in a research note on Tuesday, May 14th. B. Riley initiated coverage on QuinStreet in a research note on Friday, April 19th. They issued a “buy” rating and a $21.50 price objective on the stock. StockNews.com raised QuinStreet to a “sell” rating in a research note on Saturday, April 13th. Finally, Stephens raised their price objective on QuinStreet from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.88.

QuinStreet Company Profile

QuinStreet, Inc, an online performance marketing company, provides customer acquisition services for its clients in the United States and internationally. The company offers online marketing services, such as qualified clicks, leads, calls, applications, and customers through its websites or third-party publishers.