Jacobs Asset Management LLC Sells 21,090 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Jacobs Asset Management LLC trimmed its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST) by 4.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 477,910 shares of the technology company’s stock after selling 21,090 shares during the period. QuinStreet comprises approximately 6.0% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 7th biggest position. Jacobs Asset Management LLC’s holdings in QuinStreet were worth $9,142,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of QNST. Centiva Capital LP bought a new position in QuinStreet in the 3rd quarter worth approximately $244,000. PDT Partners LLC bought a new position in shares of QuinStreet in the third quarter worth about $533,000. Verition Fund Management LLC bought a new position in QuinStreet during the 3rd quarter worth approximately $379,000. Public Sector Pension Investment Board raised its position in shares of QuinStreet by 1.6% during the third quarter. Public Sector Pension Investment Board now owns 117,319 shares of the technology company’s stock worth $2,244,000 after purchasing an additional 1,800 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in QuinStreet by 145.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 52,209 shares of the technology company’s stock valued at $999,000 after purchasing an additional 30,969 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on QNST shares. Stephens boosted their price target on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Lake Street Capital boosted their price target on QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Barrington Research upped their price target on QuinStreet from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. B. Riley raised their price target on QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Craig Hallum upped their price target on QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.00.

QuinStreet Stock Performance

QNST stock opened at $23.14 on Tuesday. The stock’s 50 day moving average is $20.38 and its 200-day moving average is $18.67. QuinStreet, Inc. has a twelve month low of $11.22 and a twelve month high of $26.27.

QuinStreet (NASDAQ:QNST) last released its earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.07. The company had revenue of $279.22 million for the quarter, compared to the consensus estimate of $222.68 million. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. QuinStreet’s quarterly revenue was up 125.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) earnings per share. As a group, equities analysts predict that QuinStreet, Inc. will post 0.15 EPS for the current fiscal year.

Insider Activity

In other QuinStreet news, Director Stuart Huizinga sold 2,980 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $23.00, for a total transaction of $68,540.00. Following the sale, the director now directly owns 171,923 shares of the company’s stock, valued at approximately $3,954,229. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Glickman sold 30,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total transaction of $678,900.00. Following the completion of the sale, the director now directly owns 113,140 shares of the company’s stock, valued at $2,560,358.20. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $910,374 over the last three months. Insiders own 5.00% of the company’s stock.

QuinStreet Company Profile

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.