Barclays PLC Purchases 76,389 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Barclays PLC increased its holdings in QuinStreet, Inc. (NASDAQ:QNST) by 149.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,404 shares of the technology company’s stock after purchasing an additional 76,389 shares during the quarter. Barclays PLC owned approximately 0.23% of QuinStreet worth $2,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of QNST. Louisiana State Employees Retirement System grew its position in shares of QuinStreet by 2.3% in the 2nd 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 last quarter. Bank of New York Mellon Corp lifted its stake in QuinStreet by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 394,775 shares of the technology company’s stock worth $6,549,000 after acquiring an additional 9,537 shares during the period. Rhumbline Advisers boosted its holdings in 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 acquiring an additional 1,652 shares in the last quarter. Roubaix Capital LLC increased its position in QuinStreet by 28.3% during the 2nd quarter. Roubaix Capital LLC now owns 129,315 shares of the technology company’s stock valued at $2,145,000 after purchasing an additional 28,547 shares during the period. Finally, Victory Capital Management Inc. bought a new position in QuinStreet in the 2nd quarter worth $175,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on QNST shares. Barrington Research reaffirmed an “outperform” rating and set a $29.00 target price on shares of QuinStreet in a research note on Friday, December 6th. Lake Street Capital upped their target price on QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Stephens raised their target price on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. B. Riley upped their price target on QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, StockNews.com downgraded QuinStreet from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.00.

Insider Transactions at QuinStreet

In other news, Director Matthew Glickman sold 30,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total transaction of $678,900.00. Following the transaction, the director now directly owns 113,140 shares of the company’s stock, valued at $2,560,358.20. This represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stuart Huizinga sold 2,980 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $23.00, for a total value of $68,540.00. Following the sale, the director now directly owns 171,923 shares in the company, valued at $3,954,229. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,000 shares of company stock worth $910,374. Corporate insiders own 5.00% of the company’s stock.

QuinStreet Stock Up 9.2 %

QNST stock opened at $23.45 on Thursday. The business has a 50 day moving average of $21.32 and a 200 day moving average of $19.14. QuinStreet, Inc. has a twelve month low of $11.22 and a twelve month high of $26.27. The firm has a market cap of $1.32 billion, a PE ratio of -58.63 and a beta of 1.07.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $279.22 million during the quarter, compared to analyst estimates of $222.68 million. During the same quarter in the previous year, the firm earned ($0.19) EPS. QuinStreet’s quarterly revenue was up 125.3% compared to the same quarter last year. On average, research analysts expect that QuinStreet, Inc. will post 0.15 earnings per share for the current fiscal year.

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.