AlphaQuest LLC Buys 74,460 Shares of QuinStreet, Inc. $QNST

AlphaQuest LLC boosted its stake in QuinStreet, Inc. (NASDAQ:QNST) by 253.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,890 shares of the technology company’s stock after purchasing an additional 74,460 shares during the period. AlphaQuest LLC owned approximately 0.18% of QuinStreet worth $1,607,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Summit Global Investments lifted its holdings in shares of QuinStreet by 76.4% during the 3rd quarter. Summit Global Investments now owns 47,903 shares of the technology company’s stock valued at $741,000 after buying an additional 20,754 shares during the period. Y Intercept Hong Kong Ltd increased its position in QuinStreet by 113.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 137,123 shares of the technology company’s stock valued at $2,121,000 after acquiring an additional 73,021 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in QuinStreet in the third quarter valued at about $403,000. Wealth Enhancement Advisory Services LLC lifted its holdings in QuinStreet by 80.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 20,754 shares of the technology company’s stock valued at $312,000 after acquiring an additional 9,237 shares during the period. Finally, Nordea Investment Management AB boosted its position in QuinStreet by 6.1% in the third quarter. Nordea Investment Management AB now owns 226,515 shares of the technology company’s stock worth $3,497,000 after purchasing an additional 13,033 shares during the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

QuinStreet Price Performance

Shares of QNST stock opened at $13.29 on Friday. The company has a market capitalization of $754.21 million, a price-to-earnings ratio of 69.95 and a beta of 0.70. QuinStreet, Inc. has a one year low of $12.98 and a one year high of $25.50. The company’s fifty day moving average price is $14.48 and its 200-day moving average price is $14.99.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.13. The business had revenue of $285.85 million during the quarter, compared to analyst estimates of $279.73 million. QuinStreet had a return on equity of 6.91% and a net margin of 0.96%.QuinStreet’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS. Equities research analysts expect that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

QNST has been the subject of several research reports. Barrington Research reaffirmed an “outperform” rating and set a $24.00 price target on shares of QuinStreet in a research report on Monday, January 5th. B. Riley upped their target price on shares of QuinStreet from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings downgraded shares of QuinStreet from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.75.

QuinStreet Company Profile

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.