QuinStreet Inc (QNST) Sees Significant Growth in Short Interest

QuinStreet Inc (NASDAQ:QNST) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 871,286 shares, an increase of 40.0% from the January 12th total of 622,142 shares. Based on an average daily trading volume, of 353,441 shares, the days-to-cover ratio is presently 2.5 days. Approximately 2.5% of the company’s stock are short sold.

Several equities analysts recently issued reports on the stock. Stephens reissued a “buy” rating and set a $11.50 price objective on shares of QuinStreet in a report on Thursday, February 1st. Zacks Investment Research raised shares of QuinStreet from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Friday. Finally, Barrington Research assumed coverage on shares of QuinStreet in a report on Tuesday, November 28th. They issued an “outperform” rating and a $12.50 price target on the stock.

QuinStreet (NASDAQ QNST) opened at $11.67 on Friday. QuinStreet has a 1-year low of $2.96 and a 1-year high of $13.15. The stock has a market cap of $525.28, a price-to-earnings ratio of 233.40, a price-to-earnings-growth ratio of 2.64 and a beta of 1.36.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.06. QuinStreet had a net margin of 0.78% and a return on equity of 5.77%. The business had revenue of $87.49 million for the quarter, compared to analyst estimates of $75.18 million. During the same period in the previous year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was up 33.3% on a year-over-year basis. analysts predict that QuinStreet will post 0.18 EPS for the current fiscal year.

In related news, Director John G. Mcdonald sold 14,000 shares of QuinStreet stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $10.37, for a total transaction of $145,180.00. Following the transaction, the director now directly owns 67,671 shares of the company’s stock, valued at $701,748.27. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James R. Simons sold 229,716 shares of QuinStreet stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $8.63, for a total transaction of $1,982,449.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 475,650 shares of company stock worth $4,214,765. 24.10% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in QuinStreet by 22.3% in the second quarter. Vanguard Group Inc. now owns 1,623,130 shares of the technology company’s stock worth $6,768,000 after purchasing an additional 296,222 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in QuinStreet by 9.9% in the third quarter. Dimensional Fund Advisors LP now owns 932,647 shares of the technology company’s stock worth $6,855,000 after purchasing an additional 84,301 shares during the last quarter. State Street Corp lifted its stake in shares of QuinStreet by 4.5% during the second quarter. State Street Corp now owns 764,300 shares of the technology company’s stock worth $3,184,000 after buying an additional 32,730 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of QuinStreet by 19.0% during the fourth quarter. Bank of New York Mellon Corp now owns 481,221 shares of the technology company’s stock worth $4,031,000 after buying an additional 76,854 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of QuinStreet during the fourth quarter worth $3,816,000. 63.02% of the stock is currently owned by institutional investors and hedge funds.

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QuinStreet Company Profile

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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