Rhumbline Advisers Decreases Stock Position in QuinStreet, Inc. (NASDAQ:QNST)

Rhumbline Advisers reduced its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,477 shares of the technology company’s stock after selling 7,448 shares during the quarter. Rhumbline Advisers owned 0.26% of QuinStreet worth $3,379,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in QNST. FMR LLC boosted its position in QuinStreet by 5.2% during the 3rd quarter. FMR LLC now owns 2,233,345 shares of the technology company’s stock worth $42,724,000 after acquiring an additional 109,892 shares during the period. State Street Corp boosted its position in QuinStreet by 2.1% during the 3rd quarter. State Street Corp now owns 1,989,976 shares of the technology company’s stock worth $38,068,000 after acquiring an additional 41,538 shares during the period. Geode Capital Management LLC boosted its position in QuinStreet by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company’s stock worth $24,315,000 after acquiring an additional 36,963 shares during the period. Portolan Capital Management LLC boosted its position in QuinStreet by 9.6% during the 3rd quarter. Portolan Capital Management LLC now owns 801,693 shares of the technology company’s stock worth $15,336,000 after acquiring an additional 70,408 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in QuinStreet by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company’s stock worth $9,480,000 after acquiring an additional 40,236 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QNST has been the subject of a number of recent research reports. Craig Hallum raised their price target on QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Stephens raised their price target on QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. B. Riley reaffirmed a “buy” rating and set a $34.00 price target (up from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. StockNews.com raised QuinStreet from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Barrington Research reissued an “outperform” rating and issued a $29.00 price objective on shares of QuinStreet in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.80.

Insider Activity at QuinStreet

In other news, CEO Douglas Valenti sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $25.02, for a total transaction of $250,200.00. Following the completion of the sale, the chief executive officer now owns 1,836,754 shares of the company’s stock, valued at $45,955,585.08. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gregory Wong sold 8,516 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total transaction of $194,846.08. Following the sale, the chief financial officer now directly owns 337,031 shares of the company’s stock, valued at approximately $7,711,269.28. This trade represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.

QuinStreet Stock Up 1.5 %

NASDAQ:QNST opened at $19.58 on Friday. The stock’s 50 day moving average price is $22.59 and its two-hundred day moving average price is $20.96. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -89.00 and a beta of 1.06. QuinStreet, Inc. has a 12-month low of $14.14 and a 12-month high of $26.27.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Thursday, February 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. Equities research analysts expect that QuinStreet, Inc. will post 0.12 EPS for the current year.

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.