Kings Path Partners LLC Grows Position in QuinStreet, Inc. (NASDAQ:QNST)

Kings Path Partners LLC increased its position in QuinStreet, Inc. (NASDAQ:QNST) by 111.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,700 shares of the technology company’s stock after purchasing an additional 15,138 shares during the period. Kings Path Partners LLC’s holdings in QuinStreet were worth $662,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in QNST. Bank of New York Mellon Corp grew its position 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 worth $6,549,000 after buying an additional 9,537 shares during the period. Rhumbline Advisers boosted its stake in QuinStreet by 1.1% during the second quarter. Rhumbline Advisers now owns 156,530 shares of the technology company’s stock worth $2,597,000 after acquiring an additional 1,652 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in QuinStreet in the second quarter worth about $175,000. Texas Permanent School Fund Corp increased its stake in shares of QuinStreet by 21.0% during the second quarter. Texas Permanent School Fund Corp now owns 55,240 shares of the technology company’s stock valued at $916,000 after purchasing an additional 9,602 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of QuinStreet by 27.5% during the second quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company’s stock valued at $33,763,000 after purchasing an additional 438,947 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

QuinStreet Stock Performance

Shares of NASDAQ QNST traded down $0.60 during midday trading on Monday, hitting $22.95. 151,723 shares of the company’s stock traded hands, compared to its average volume of 274,627. The firm has a fifty day moving average of $22.08 and a 200 day moving average of $19.52. QuinStreet, Inc. has a 1 year low of $11.22 and a 1 year high of $26.27. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -57.38 and a beta of 1.07.

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. On average, equities analysts anticipate that QuinStreet, Inc. will post 0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QNST. Lake Street Capital raised their price objective on QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Stephens increased their price objective on shares of QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. B. Riley lifted their target price on shares of QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barrington Research reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of QuinStreet in a research report on Friday, December 6th. Finally, Craig Hallum lifted their target price on QuinStreet from $25.00 to $32.00 and gave the stock a “buy” 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, QuinStreet has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

Insider Buying and Selling at QuinStreet

In other news, Director Matthew Glickman sold 30,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stuart Huizinga sold 2,980 shares of the 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 of the company’s stock, valued at approximately $3,954,229. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock valued at $910,374 over the last 90 days. 5.00% of the stock is currently owned by corporate insiders.

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.