Maridea Wealth Management LLC Purchases New Stake in QuinStreet, Inc. (NASDAQ:QNST)

Maridea Wealth Management LLC acquired a new position in QuinStreet, Inc. (NASDAQ:QNST) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,480 shares of the technology company’s stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QNST. Pictet Asset Management Holding SA acquired a new position in QuinStreet in the fourth quarter valued at approximately $203,000. JPMorgan Chase & Co. lifted its stake in shares of QuinStreet by 18.3% in the 4th quarter. JPMorgan Chase & Co. now owns 532,078 shares of the technology company’s stock valued at $12,275,000 after purchasing an additional 82,489 shares during the period. Vanguard Group Inc. boosted its position in shares of QuinStreet by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 4,002,030 shares of the technology company’s stock worth $92,327,000 after purchasing an additional 26,169 shares during the last quarter. Fox Run Management L.L.C. grew its stake in shares of QuinStreet by 122.7% during the fourth quarter. Fox Run Management L.L.C. now owns 36,875 shares of the technology company’s stock worth $851,000 after purchasing an additional 20,316 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in QuinStreet in the fourth quarter valued at about $240,000. 97.83% of the stock is owned by institutional investors.

Insider Transactions at QuinStreet

In related news, CEO Douglas Valenti sold 10,000 shares of the 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 completion of the transaction, the chief executive officer now owns 1,836,754 shares in the company, valued at approximately $45,955,585.08. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory Wong sold 8,516 shares of QuinStreet 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 completion of the sale, the chief financial officer now owns 337,031 shares in the company, valued at $7,711,269.28. The trade was a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

QuinStreet Trading Down 4.1 %

Shares of NASDAQ QNST opened at $17.92 on Friday. The company has a fifty day moving average price of $20.80 and a 200 day moving average price of $20.95. The firm has a market cap of $1.01 billion, a PE ratio of -81.45 and a beta of 1.13. QuinStreet, Inc. has a 1-year low of $15.20 and a 1-year high of $26.27.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Thursday, February 6th. The technology company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. Equities research analysts forecast that QuinStreet, Inc. will post 0.12 EPS for the current year.

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.