Charles Schwab Investment Management Inc. Raises Stake in QuinStreet, Inc. (NASDAQ:QNST)

Charles Schwab Investment Management Inc. boosted its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 509,949 shares of the technology company’s stock after buying an additional 14,411 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.91% of QuinStreet worth $11,765,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Steward Partners Investment Advisory LLC purchased a new stake in QuinStreet in the 4th quarter worth approximately $112,000. SVB Wealth LLC purchased a new stake in shares of QuinStreet during the 4th quarter worth about $3,508,000. Oppenheimer & Co. Inc. acquired a new stake in shares of QuinStreet during the 4th quarter valued at about $292,000. Illinois Municipal Retirement Fund increased its stake in shares of QuinStreet by 9.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 30,470 shares of the technology company’s stock valued at $703,000 after purchasing an additional 2,664 shares in the last quarter. Finally, BankPlus Trust Department acquired a new position in QuinStreet in the 4th quarter worth about $198,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

QuinStreet Price Performance

Shares of QNST opened at $18.58 on Friday. QuinStreet, Inc. has a 1-year low of $15.20 and a 1-year high of $26.27. The stock has a market cap of $1.05 billion, a PE ratio of -84.45 and a beta of 1.13. The firm has a fifty day moving average price of $21.11 and a 200 day moving average price of $20.94.

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

Analyst Ratings Changes

QNST has been the subject of a number of recent analyst reports. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Lake Street Capital boosted their price target on shares of QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Barrington Research reaffirmed an “outperform” rating and set a $29.00 price objective on shares of QuinStreet in a report on Friday, February 7th. Finally, B. Riley reiterated a “buy” rating and set a $34.00 price objective (up from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, QuinStreet presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.80.

Insider Transactions at QuinStreet

In related news, CEO Douglas Valenti sold 10,000 shares of the company’s stock in a transaction 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 directly owns 1,836,754 shares of the company’s stock, valued at approximately $45,955,585.08. This represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gregory Wong sold 8,516 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total value of $194,846.08. Following the completion of the sale, the chief financial officer now directly owns 337,031 shares of the company’s stock, valued at $7,711,269.28. The trade was a 2.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

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.