QuinStreet (NASDAQ:QNST) Shares Gap Up – Here’s Why

QuinStreet, Inc. (NASDAQ:QNST) gapped up prior to trading on Monday . The stock had previously closed at $21.59, but opened at $22.77. QuinStreet shares last traded at $23.04, with a volume of 239,453 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on QNST. Craig Hallum upped their price target on QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. StockNews.com cut QuinStreet from a “hold” rating to a “sell” rating in a research report on Tuesday, January 14th. B. Riley increased their price target on shares of QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Stephens upped their price objective on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Barrington Research reissued an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

QuinStreet Trading Up 8.8 %

The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -59.08 and a beta of 1.07. The company’s 50 day simple moving average is $22.36 and its 200-day simple moving average is $20.20.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $279.22 million during the quarter, compared to the consensus estimate of $222.68 million. During the same quarter in the previous year, the business earned ($0.19) earnings per share. The business’s revenue for the quarter was up 125.3% on a year-over-year basis. Sell-side analysts anticipate that QuinStreet, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling

In related news, Director Stuart Huizinga sold 2,980 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $23.00, for a total transaction of $68,540.00. Following the completion of the sale, the director now directly owns 171,923 shares of the company’s stock, valued at approximately $3,954,229. This represents a 1.70 % 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, 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 value of $678,900.00. Following the completion of the transaction, the director now owns 113,140 shares of the company’s stock, valued at approximately $2,560,358.20. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,000 shares of company stock valued at $910,374. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On QuinStreet

A number of large investors have recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in QuinStreet by 880.3% during the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,250 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of QuinStreet during the third quarter worth about $29,000. Quarry LP grew its stake in QuinStreet by 11,330.0% in the second quarter. Quarry LP now owns 2,286 shares of the technology company’s stock worth $38,000 after purchasing an additional 2,266 shares in the last quarter. KBC Group NV raised its stake in QuinStreet by 64.5% during the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock valued at $82,000 after buying an additional 1,396 shares in the last quarter. Finally, Centiva Capital LP acquired a new position in QuinStreet in the third quarter worth $244,000. 97.83% of the stock is owned by institutional investors and hedge funds.

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.