QuinStreet (NASDAQ:QNST) Shares Gap Down – Here’s What Happened

QuinStreet, Inc. (NASDAQ:QNST)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $18.00, but opened at $17.26. QuinStreet shares last traded at $17.73, with a volume of 30,379 shares changing hands.

Analyst Ratings Changes

Several brokerages recently commented on QNST. Barrington Research reiterated an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a research note on Wednesday, March 26th. StockNews.com raised QuinStreet from a “sell” rating to a “hold” rating in a report on Monday, February 10th. B. Riley reiterated a “buy” rating and issued a $34.00 price target (up previously from $32.00) on shares of QuinStreet in a report on Friday, February 7th. Finally, Lake Street Capital upped their target price on shares of QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, QuinStreet currently has a consensus rating of “Moderate Buy” and an average target price of $29.80.

QuinStreet Trading Down 1.3 %

The business’s 50-day moving average is $20.60 and its two-hundred day moving average is $20.95. The stock has a market capitalization of $1.00 billion, a PE ratio of -81.06 and a beta of 1.13.

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

Insider Buying and Selling

In related news, CFO Gregory Wong sold 8,516 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $22.88, for a total value of $194,846.08. Following the completion of the sale, the chief financial officer now owns 337,031 shares of the company’s stock, valued at $7,711,269.28. This represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Douglas Valenti sold 10,000 shares of the firm’s stock in a transaction dated 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 approximately $45,955,585.08. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in shares of QuinStreet during the third quarter worth $29,000. Arcadia Investment Management Corp MI acquired a new stake in QuinStreet during the 4th quarter worth about $38,000. KBC Group NV raised its holdings in QuinStreet by 64.5% during the 4th quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock worth $82,000 after buying an additional 1,396 shares during the period. PNC Financial Services Group Inc. lifted its stake in QuinStreet by 43.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company’s stock valued at $88,000 after buying an additional 1,162 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of QuinStreet in the fourth quarter worth about $112,000. 97.83% of the stock is currently owned by institutional investors.

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.