QuinStreet (NASDAQ:QNST) Shares Down 11.6% on Disappointing Earnings

QuinStreet, Inc. (NASDAQ:QNST)’s stock price was down 11.6% during trading on Friday following a dissappointing earnings announcement. The stock traded as low as $21.57 and last traded at $22.26. Approximately 340,337 shares traded hands during trading, a decline of 23% from the average daily volume of 444,577 shares. The stock had previously closed at $25.17.

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 8.79% and a negative net margin of 2.88%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Craig Hallum increased their price target on shares of 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 target on shares of QuinStreet in a research note on Friday. Lake Street Capital boosted their price target on shares of QuinStreet from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Friday. Stephens boosted their price target on shares of QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, StockNews.com cut shares of QuinStreet from a “hold” rating to a “sell” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, QuinStreet currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.80.

Insider Activity at QuinStreet

In other news, Director Matthew Glickman sold 30,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 113,140 shares in the company, valued at $2,560,358.20. This represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stuart Huizinga sold 7,020 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $23.21, for a total value of $162,934.20. Following the sale, the director now owns 174,903 shares of the company’s stock, valued at $4,059,498.63. This trade represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $1,160,574 in the last 90 days. 5.00% of the stock is owned by insiders.

Institutional Trading of QuinStreet

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi boosted its holdings in shares of QuinStreet by 174.5% in the fourth quarter. Amundi now owns 26,713 shares of the technology company’s stock valued at $594,000 after acquiring an additional 16,982 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of QuinStreet by 43.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company’s stock worth $88,000 after buying an additional 1,162 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of QuinStreet during the 4th quarter worth approximately $2,031,000. Victory Capital Management Inc. purchased a new position in shares of QuinStreet during the 4th quarter worth approximately $225,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of QuinStreet during the 4th quarter worth approximately $206,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

QuinStreet Trading Down 4.3 %

The firm has a market capitalization of $1.36 billion, a PE ratio of -60.25 and a beta of 1.06. The business has a 50 day moving average price of $22.72 and a 200-day moving average price of $20.58.

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.