Lisanti Capital Growth LLC Buys New Stake in QuinStreet, Inc. (NASDAQ:QNST)

Lisanti Capital Growth LLC bought a new stake in QuinStreet, Inc. (NASDAQ:QNST) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 88,055 shares of the technology company’s stock, valued at approximately $2,031,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QNST. State of Alaska Department of Revenue lifted its stake in QuinStreet by 2.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 31,544 shares of the technology company’s stock valued at $603,000 after buying an additional 712 shares in the last quarter. US Bancorp DE lifted its stake in shares of QuinStreet by 880.3% during the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,250 shares during the period. Quest Partners LLC purchased a new position in shares of QuinStreet during the 3rd quarter worth $291,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of QuinStreet during the 3rd quarter worth $477,000. Finally, Intech Investment Management LLC lifted its stake in shares of QuinStreet by 184.9% during the 3rd quarter. Intech Investment Management LLC now owns 46,183 shares of the technology company’s stock worth $883,000 after purchasing an additional 29,973 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

QuinStreet Trading Down 0.2 %

Shares of NASDAQ QNST opened at $18.57 on Friday. The stock has a 50 day simple moving average of $22.22 and a 200-day simple moving average of $20.98. The company has a market cap of $1.05 billion, a PE ratio of -84.41 and a beta of 1.13. QuinStreet, Inc. has a 12-month low of $14.85 and a 12-month high of $26.27.

QuinStreet (NASDAQ:QNST) last released its earnings results on Thursday, February 6th. The technology company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. Sell-side analysts forecast that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at QuinStreet

In other news, CEO Douglas Valenti sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $25.02, for a total transaction of $250,200.00. Following the transaction, the chief executive officer now directly owns 1,836,754 shares in the company, valued at $45,955,585.08. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gregory Wong sold 8,516 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $22.88, for a total transaction of $194,846.08. Following the transaction, the chief financial officer now owns 337,031 shares in the company, valued at approximately $7,711,269.28. This represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QNST. Barrington Research reissued an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a research note on Friday, February 7th. Lake Street Capital increased their price target on QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. StockNews.com raised QuinStreet from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, B. Riley reissued a “buy” rating and set a $34.00 price target (up previously from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.80.

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.