QuinStreet, Inc. (NASDAQ:QNST) Shares Sold by Carmel Capital Partners LLC

Carmel Capital Partners LLC trimmed its holdings in QuinStreet, Inc. (NASDAQ:QNST) by 15.0% during the third quarter, Holdings Channel reports. The institutional investor owned 16,895 shares of the technology company’s stock after selling 2,981 shares during the period. Carmel Capital Partners LLC’s holdings in QuinStreet were worth $323,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of QNST. American Century Companies Inc. lifted its stake in shares of QuinStreet by 27.5% in the 2nd quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company’s stock valued at $33,763,000 after purchasing an additional 438,947 shares in the last quarter. Divisadero Street Capital Management LP purchased a new stake in QuinStreet during the 2nd quarter worth approximately $6,499,000. Driehaus Capital Management LLC increased its holdings in shares of QuinStreet by 17.6% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company’s stock valued at $25,050,000 after acquiring an additional 225,720 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of QuinStreet by 248.7% in the 2nd quarter. Squarepoint Ops LLC now owns 174,367 shares of the technology company’s stock valued at $2,893,000 after acquiring an additional 124,367 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in QuinStreet during the 2nd quarter valued at approximately $1,766,000. 97.83% of the stock is owned by institutional investors and hedge funds.

QuinStreet Price Performance

Shares of QNST stock opened at $22.50 on Friday. QuinStreet, Inc. has a fifty-two week low of $10.46 and a fifty-two week high of $26.27. The stock’s 50-day moving average is $19.47 and its two-hundred day moving average is $18.22. The firm has a market cap of $1.26 billion, a P/E ratio of -56.25 and a beta of 1.09.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $279.22 million for the quarter, compared to analyst estimates of $222.68 million. During the same period in the prior year, the firm posted ($0.19) EPS. The business’s revenue was up 125.3% compared to the same quarter last year. As a group, research analysts expect that QuinStreet, Inc. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. StockNews.com lowered QuinStreet from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Craig Hallum upped their target price on QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday. Lake Street Capital upped their target price on QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday. Stephens increased their price objective on QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, B. Riley increased their price objective on QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.00.

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.