QuinStreet (NASDAQ:QNST) Shares Gap Down – What’s Next?

Shares of QuinStreet, Inc. (NASDAQ:QNST) gapped down before the market opened on Tuesday . The stock had previously closed at $15.28, but opened at $14.95. QuinStreet shares last traded at $15.54, with a volume of 6,646 shares traded.

Analysts Set New Price Targets

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

QuinStreet Trading Up 2.3 %

The company has a market capitalization of $882.61 million, a P/E ratio of -71.05 and a beta of 0.91. The firm has a fifty day moving average of $18.89 and a 200 day moving average of $20.64.

QuinStreet (NASDAQ:QNST) last posted its earnings results on Thursday, February 6th. The technology company reported ($0.03) EPS 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 anticipate that QuinStreet, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at QuinStreet

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

Institutional Trading of QuinStreet

Several institutional investors and hedge funds have recently made changes to their positions in QNST. Driehaus Capital Management LLC increased its position in shares of QuinStreet by 28.4% during the fourth quarter. Driehaus Capital Management LLC now owns 2,787,695 shares of the technology company’s stock worth $64,312,000 after acquiring an additional 617,216 shares during the period. Invesco Ltd. lifted its stake in QuinStreet by 177.8% in the fourth quarter. Invesco Ltd. now owns 946,108 shares of the technology company’s stock worth $21,827,000 after acquiring an additional 605,500 shares during the period. G2 Investment Partners Management LLC bought a new position in QuinStreet during the 4th quarter worth about $7,203,000. BNP Paribas Financial Markets increased its position in QuinStreet by 537.4% during the 4th quarter. BNP Paribas Financial Markets now owns 332,763 shares of the technology company’s stock valued at $7,677,000 after purchasing an additional 280,554 shares during the period. Finally, Oberweis Asset Management Inc. bought a new stake in shares of QuinStreet in the 4th quarter valued at about $5,191,000. 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.