Connor Clark & Lunn Investment Management Ltd. Invests $477,000 in QuinStreet, Inc. (NASDAQ:QNST)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of QuinStreet, Inc. (NASDAQ:QNST) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 24,922 shares of the technology company’s stock, valued at approximately $477,000.

Several other institutional investors also recently modified their holdings of the stock. Louisiana State Employees Retirement System lifted its holdings in QuinStreet by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 26,400 shares of the technology company’s stock worth $438,000 after acquiring an additional 600 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in QuinStreet by 2.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 31,544 shares of the technology company’s stock worth $603,000 after purchasing an additional 712 shares during the period. The Manufacturers Life Insurance Company increased its holdings in QuinStreet by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,539 shares of the technology company’s stock worth $341,000 after purchasing an additional 719 shares in the last quarter. US Bancorp DE raised its stake in shares of QuinStreet by 880.3% in the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,250 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of QuinStreet by 1.1% in the second quarter. Rhumbline Advisers now owns 156,530 shares of the technology company’s stock valued at $2,597,000 after purchasing an additional 1,652 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

QuinStreet Stock Performance

NASDAQ:QNST opened at $22.78 on Friday. The stock has a market capitalization of $1.28 billion, a PE ratio of -56.95 and a beta of 1.09. QuinStreet, Inc. has a 1-year low of $11.22 and a 1-year high of $26.27. The firm has a fifty day simple moving average of $20.31 and a 200 day simple moving average of $18.62.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. QuinStreet had a negative net margin of 2.88% and a negative return on equity of 8.79%. The company had revenue of $279.22 million during the quarter, compared to the consensus estimate of $222.68 million. During the same quarter last year, the firm posted ($0.19) EPS. The company’s quarterly revenue was up 125.3% on a year-over-year basis. On average, equities analysts predict that QuinStreet, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at QuinStreet

In other news, Director Stuart Huizinga sold 7,020 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $23.21, for a total transaction of $162,934.20. Following the completion of the sale, the director now owns 174,903 shares in the company, valued at $4,059,498.63. The trade was a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Matthew Glickman sold 30,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total value of $678,900.00. Following the completion of the transaction, the director now directly owns 113,140 shares in the company, valued at approximately $2,560,358.20. This represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on QNST shares. B. Riley increased their price objective on QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Lake Street Capital lifted their price objective on shares of QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. StockNews.com raised shares of QuinStreet from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Stephens raised their target price on shares of QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Craig Hallum boosted their price target on shares of QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

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.