Thrivent Financial for Lutherans Has $49.46 Million Stock Position in QuinStreet, Inc. (NASDAQ:QNST)

Thrivent Financial for Lutherans cut its stake in QuinStreet, Inc. (NASDAQ:QNST) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,981,202 shares of the technology company’s stock after selling 27,206 shares during the quarter. Thrivent Financial for Lutherans owned 5.39% of QuinStreet worth $49,458,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Basswood Capital Management L.L.C. raised its stake in shares of QuinStreet by 20.6% in the fourth quarter. Basswood Capital Management L.L.C. now owns 1,007,188 shares of the technology company’s stock worth $12,912,000 after purchasing an additional 171,838 shares during the last quarter. Nomura Holdings Inc. raised its stake in shares of QuinStreet by 20.0% in the fourth quarter. Nomura Holdings Inc. now owns 360,543 shares of the technology company’s stock worth $4,622,000 after purchasing an additional 60,142 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of QuinStreet by 20.2% in the first quarter. First Eagle Investment Management LLC now owns 549,223 shares of the technology company’s stock valued at $9,699,000 after acquiring an additional 92,200 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of QuinStreet by 1.3% in the first quarter. Vanguard Group Inc. now owns 3,712,518 shares of the technology company’s stock valued at $65,563,000 after acquiring an additional 48,705 shares in the last quarter. Finally, Divisadero Street Capital Management LP bought a new position in shares of QuinStreet in the second quarter valued at approximately $6,499,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

QuinStreet Trading Down 1.0 %

Shares of NASDAQ QNST opened at $19.96 on Monday. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -12.79 and a beta of 1.11. The stock has a fifty day simple moving average of $18.50 and a two-hundred day simple moving average of $17.54. QuinStreet, Inc. has a 1-year low of $8.44 and a 1-year high of $20.50.

QuinStreet (NASDAQ:QNST) last posted its earnings results on Thursday, August 8th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $198.32 million for the quarter, compared to the consensus estimate of $186.39 million. QuinStreet had a negative return on equity of 13.00% and a negative net margin of 5.11%. The business’s quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.03) earnings per share. Analysts forecast that QuinStreet, Inc. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on QNST shares. B. Riley upped their target price on QuinStreet from $21.50 to $24.00 and gave the company a “buy” rating in a report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and issued a $22.00 target price on shares of QuinStreet in a report on Friday, August 9th. Craig Hallum upped their target price on QuinStreet from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com raised QuinStreet from a “sell” rating to a “hold” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.25.

About QuinStreet

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.