QuinStreet, Inc. (NASDAQ:QNST) Short Interest Down 17.2% in November

QuinStreet, Inc. (NASDAQ:QNST) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,730,000 shares, a decline of 17.2% from the November 15th total of 2,090,000 shares. Based on an average daily trading volume, of 437,100 shares, the days-to-cover ratio is currently 4.0 days. Currently, 3.4% of the company’s shares are short sold.

QuinStreet Stock Performance

NASDAQ:QNST opened at $22.11 on Monday. The stock has a 50-day simple moving average of $20.90 and a two-hundred day simple moving average of $18.91. QuinStreet has a 52-week low of $11.22 and a 52-week high of $26.27. The firm has a market capitalization of $1.24 billion, a PE ratio of -55.28 and a beta of 1.07.

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

Wall Street Analysts Forecast Growth

QNST has been the subject of several research reports. StockNews.com lowered shares of QuinStreet from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Stephens boosted their target price on QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. 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 report on Tuesday, November 5th. Lake Street Capital boosted their target price on QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, Barrington Research reiterated an “outperform” rating and set a $29.00 target price on shares of QuinStreet in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

Insider Buying and Selling

In related news, Director Matthew Glickman sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total value of $678,900.00. Following the sale, the director now directly owns 113,140 shares of the company’s stock, valued at $2,560,358.20. This trade 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 shares were sold at an average price of $23.21, for a total value of $162,934.20. Following the transaction, the director now directly owns 174,903 shares of the company’s stock, valued at $4,059,498.63. The trade was a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock valued at $910,374 over the last three months. 5.00% of the stock is owned by company insiders.

Institutional Trading of QuinStreet

Several institutional investors and hedge funds have recently modified their holdings of QNST. Price T Rowe Associates Inc. MD boosted its holdings in QuinStreet by 12.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,188 shares of the technology company’s stock worth $269,000 after buying an additional 1,694 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of QuinStreet by 3.9% in the second quarter. Assenagon Asset Management S.A. now owns 183,250 shares of the technology company’s stock valued at $3,040,000 after acquiring an additional 6,853 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of QuinStreet by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 26,400 shares of the technology company’s stock worth $438,000 after acquiring an additional 600 shares during the period. Bank of New York Mellon Corp grew its position in shares of QuinStreet by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 394,775 shares of the technology company’s stock worth $6,549,000 after purchasing an additional 9,537 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in QuinStreet by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 156,530 shares of the technology company’s stock valued at $2,597,000 after purchasing an additional 1,652 shares during the period. 97.83% of the stock is currently owned by institutional investors.

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.