QuinStreet Inc (QNST) Issues Quarterly Earnings Results
QuinStreet Inc (NASDAQ:QNST) announced its quarterly earnings results on Tuesday. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.04. The company had revenue of $79.21 million for the quarter, compared to analyst estimates of $82.22 million. QuinStreet had a negative return on equity of 6.13% and a negative net margin of 5.75%. QuinStreet’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share.
Shares of QuinStreet (NASDAQ:QNST) traded up 0.75% during midday trading on Wednesday, reaching $4.05. The company’s stock had a trading volume of 5,060 shares. QuinStreet has a 52 week low of $2.61 and a 52 week high of $4.63. The stock’s market capitalization is $184.30 million. The company has a 50 day moving average of $4.03 and a 200-day moving average of $3.56.
In other QuinStreet news, SVP Martin J. Collins sold 15,564 shares of QuinStreet stock in a transaction on Monday, March 13th. The shares were sold at an average price of $3.19, for a total value of $49,649.16. Following the transaction, the senior vice president now directly owns 73,125 shares in the company, valued at $233,268.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 23.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Tennessee Treasury Department raised its position in shares of QuinStreet by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 31,119 shares of the technology company’s stock worth $121,000 after buying an additional 4,696 shares during the period. TFS Capital LLC raised its position in shares of QuinStreet by 464.8% in the first quarter. TFS Capital LLC now owns 74,966 shares of the technology company’s stock worth $292,000 after buying an additional 61,692 shares during the period. Ameriprise Financial Inc. raised its position in shares of QuinStreet by 3.5% in the first quarter. Ameriprise Financial Inc. now owns 186,649 shares of the technology company’s stock worth $728,000 after buying an additional 6,355 shares during the period. Comerica Bank raised its position in shares of QuinStreet by 3.2% in the first quarter. Comerica Bank now owns 39,257 shares of the technology company’s stock worth $174,000 after buying an additional 1,205 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of QuinStreet by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 407,747 shares of the technology company’s stock worth $1,591,000 after buying an additional 2,696 shares during the period. Institutional investors own 61.66% of the company’s stock.
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QuinStreet, Inc is an online performance marketing company. The Company provides vertically oriented customer acquisition programs for its clients. The Company operating segments include Direct Marketing Services (DMS) business. Its DMS business derives its net revenue from fees earned through the delivery of qualified leads, clicks, calls or customers, and display advertisements, or impressions.
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