The Manufacturers Life Insurance Company Lowers Stock Holdings in QuinStreet, Inc. (NASDAQ:QNST)

The Manufacturers Life Insurance Company reduced its position in shares of QuinStreet, Inc. (NASDAQ:QNST) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,014 shares of the technology company’s stock after selling 525 shares during the period. The Manufacturers Life Insurance Company’s holdings in QuinStreet were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System boosted its position in shares of 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 buying an additional 600 shares during the period. State of Alaska Department of Revenue boosted its position in shares of QuinStreet by 2.3% during the third quarter. State of Alaska Department of Revenue now owns 31,544 shares of the technology company’s stock worth $603,000 after buying an additional 712 shares during the period. US Bancorp DE boosted its position in shares of QuinStreet by 880.3% during the third quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock worth $27,000 after buying an additional 1,250 shares during the period. Rhumbline Advisers boosted its position in shares of QuinStreet by 1.1% during the second quarter. Rhumbline Advisers now owns 156,530 shares of the technology company’s stock worth $2,597,000 after buying an additional 1,652 shares during the period. Finally, Quarry LP raised its stake in shares of QuinStreet by 11,330.0% in the second quarter. Quarry LP now owns 2,286 shares of the technology company’s stock valued at $38,000 after acquiring an additional 2,266 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

QuinStreet Stock Performance

QuinStreet stock opened at $22.11 on Monday. QuinStreet, Inc. has a 1-year low of $11.22 and a 1-year high of $26.27. The stock’s fifty day moving average is $20.90 and its two-hundred day moving average is $18.90.

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

Insiders Place Their Bets

In other QuinStreet news, Director Stuart Huizinga sold 7,020 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $23.21, for a total transaction of $162,934.20. Following the transaction, the director now owns 174,903 shares of the company’s stock, valued at approximately $4,059,498.63. This trade represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Glickman sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total value of $678,900.00. Following the transaction, the director now directly owns 113,140 shares in the company, valued at approximately $2,560,358.20. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,000 shares of company stock valued at $910,374. 5.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QNST. Lake Street Capital increased their price objective on QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Craig Hallum increased their price objective on QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barrington Research reiterated an “outperform” rating and issued a $29.00 price objective on shares of QuinStreet in a research note on Friday, December 6th. StockNews.com cut QuinStreet from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Finally, B. Riley increased their price objective on QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, QuinStreet currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

QuinStreet 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.