Sei Investments Co. Raises Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Sei Investments Co. raised its position in QuinStreet, Inc. (NASDAQ:QNST) by 9.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 101,728 shares of the technology company’s stock after purchasing an additional 8,577 shares during the period. Sei Investments Co. owned 0.18% of QuinStreet worth $2,347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of QNST. American Century Companies Inc. raised its holdings in QuinStreet by 9.9% in the 4th quarter. American Century Companies Inc. now owns 2,228,568 shares of the technology company’s stock valued at $51,413,000 after acquiring an additional 201,052 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of QuinStreet by 2,570.2% in the fourth quarter. Quantbot Technologies LP now owns 41,015 shares of the technology company’s stock valued at $946,000 after purchasing an additional 39,479 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in QuinStreet during the fourth quarter worth approximately $465,000. Counterpoint Mutual Funds LLC boosted its stake in QuinStreet by 143.1% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 33,741 shares of the technology company’s stock worth $778,000 after buying an additional 19,862 shares during the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new stake in QuinStreet in the 4th quarter valued at $261,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Gregory Wong sold 8,516 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 in the company, valued at approximately $7,711,269.28. This represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 directly owns 1,836,754 shares in the company, valued at approximately $45,955,585.08. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

QNST has been the topic of several analyst reports. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Barrington Research reiterated an “outperform” rating and issued a $29.00 price objective on shares of QuinStreet in a report on Wednesday, March 26th. Lake Street Capital raised their target price on QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. Finally, B. Riley reaffirmed a “buy” rating and issued a $34.00 price target (up previously from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, QuinStreet currently has a consensus rating of “Moderate Buy” and an average price target of $29.80.

QuinStreet Stock Down 4.8 %

NASDAQ:QNST opened at $15.55 on Friday. QuinStreet, Inc. has a 52 week low of $15.20 and a 52 week high of $26.27. The stock’s fifty day moving average is $20.29 and its two-hundred day moving average is $20.87. The stock has a market capitalization of $878.09 million, a price-to-earnings ratio of -70.68 and a beta of 0.91.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Thursday, February 6th. The technology company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. On average, sell-side analysts expect that QuinStreet, Inc. will post 0.12 EPS for the current fiscal 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.