Short Interest in QuinStreet, Inc. (NASDAQ:QNST) Drops By 17.2%

QuinStreet, Inc. (NASDAQ:QNST) saw a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 1,730,000 shares, a decrease of 17.2% from the November 15th total of 2,090,000 shares. Currently, 3.4% of the shares of the company are sold short. Based on an average trading volume of 437,100 shares, the days-to-cover ratio is presently 4.0 days.

Insider Transactions at QuinStreet

In related news, Director Stuart Huizinga sold 2,980 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $3,954,229. This represents a 1.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Glickman sold 30,000 shares of QuinStreet stock in a transaction that occurred on 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 transaction, the director now owns 113,140 shares of the company’s stock, valued at $2,560,358.20. This represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,000 shares of company stock worth $910,374. 5.00% of the stock is owned by company insiders.

Institutional Trading of QuinStreet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of QuinStreet by 12.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,188 shares of the technology company’s stock valued at $269,000 after purchasing an additional 1,694 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of QuinStreet by 3.9% during the second quarter. Assenagon Asset Management S.A. now owns 183,250 shares of the technology company’s stock valued at $3,040,000 after buying an additional 6,853 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of QuinStreet by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 26,400 shares of the technology company’s stock worth $438,000 after buying an additional 600 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of QuinStreet by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 394,775 shares of the technology company’s stock valued at $6,549,000 after acquiring an additional 9,537 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of QuinStreet by 1.1% in the 2nd quarter. Rhumbline Advisers now owns 156,530 shares of the technology company’s stock valued at $2,597,000 after acquiring an additional 1,652 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on QNST shares. Craig Hallum raised their target price on QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Stephens boosted their price objective on shares of QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. B. Riley increased their target price on shares of QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. StockNews.com downgraded shares of QuinStreet from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Finally, Lake Street Capital upped their price target on shares of QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.00.

QuinStreet Stock Performance

QuinStreet stock opened at $22.11 on Monday. QuinStreet has a fifty-two week low of $11.22 and a fifty-two week high of $26.27. The stock has a market cap of $1.24 billion, a P/E ratio of -55.28 and a beta of 1.07. The firm’s fifty day moving average price is $20.90 and its 200-day moving average price is $18.91.

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

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.