Dark Forest Capital Management LP Makes New Investment in QuinStreet, Inc. (NASDAQ:QNST)

Dark Forest Capital Management LP acquired a new position in QuinStreet, Inc. (NASDAQ:QNST) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,768 shares of the technology company’s stock, valued at approximately $378,000.

Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its holdings in QuinStreet by 27.5% in the 2nd quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company’s stock valued at $33,763,000 after purchasing an additional 438,947 shares in the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of QuinStreet in the second quarter valued at about $6,499,000. Basswood Capital Management L.L.C. raised its holdings in shares of QuinStreet by 20.6% during the 4th quarter. Basswood Capital Management L.L.C. now owns 1,007,188 shares of the technology company’s stock valued at $12,912,000 after buying an additional 171,838 shares during the period. Squarepoint Ops LLC lifted its position in QuinStreet by 248.7% during the 2nd quarter. Squarepoint Ops LLC now owns 174,367 shares of the technology company’s stock worth $2,893,000 after acquiring an additional 124,367 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in QuinStreet by 6.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,866,930 shares of the technology company’s stock worth $23,934,000 after acquiring an additional 114,980 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

QuinStreet Price Performance

NASDAQ QNST opened at $19.00 on Friday. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -12.18 and a beta of 1.11. QuinStreet, Inc. has a 12 month low of $8.44 and a 12 month high of $20.91. The company’s fifty day moving average price is $18.63 and its two-hundred day moving average price is $17.65.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on QNST. Craig Hallum lifted their price objective on shares of QuinStreet from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 9th. B. Riley lifted their price target on shares of QuinStreet from $21.50 to $24.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Barrington Research reissued an “outperform” rating and issued a $22.00 price objective on shares of QuinStreet in a research report on Friday, August 9th. Finally, StockNews.com lowered QuinStreet from a “hold” rating to a “sell” rating in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, QuinStreet currently has a consensus rating of “Moderate Buy” and a consensus 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.