Basswood Capital Management L.L.C. Trims Stock Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Basswood Capital Management L.L.C. lessened its stake in shares of QuinStreet, Inc. (NASDAQ:QNST) by 14.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 697,988 shares of the technology company’s stock after selling 121,879 shares during the quarter. Basswood Capital Management L.L.C.’s holdings in QuinStreet were worth $13,353,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in QNST. US Bancorp DE boosted its stake in shares of QuinStreet by 880.3% during the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,250 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of QuinStreet during the third quarter valued at approximately $29,000. Quarry LP boosted its position in QuinStreet by 11,330.0% during the second quarter. Quarry LP now owns 2,286 shares of the technology company’s stock worth $38,000 after acquiring an additional 2,266 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in QuinStreet in the 2nd quarter worth approximately $175,000. Finally, Hsbc Holdings PLC raised its holdings in QuinStreet by 26.1% in the 2nd quarter. Hsbc Holdings PLC now owns 14,000 shares of the technology company’s stock valued at $225,000 after acquiring an additional 2,895 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

QuinStreet Stock Performance

Shares of NASDAQ:QNST opened at $22.78 on Monday. The stock has a 50-day simple moving average of $20.31 and a 200-day simple moving average of $18.64. The stock has a market capitalization of $1.28 billion, a P/E ratio of -56.95 and a beta of 1.09. QuinStreet, Inc. has a 1 year low of $11.22 and a 1 year high of $26.27.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings data on Monday, November 4th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.07. QuinStreet had a negative net margin of 2.88% and a negative return on equity of 8.79%. The company had revenue of $279.22 million during the quarter, compared to the consensus estimate of $222.68 million. During the same period in the previous year, the firm earned ($0.19) earnings per share. QuinStreet’s revenue for the quarter was up 125.3% on a year-over-year basis. Analysts predict that QuinStreet, Inc. will post 0.15 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Matthew Glickman sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total transaction of $678,900.00. Following the sale, the director now directly owns 113,140 shares in the company, valued at approximately $2,560,358.20. This trade represents a 20.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stuart Huizinga sold 7,020 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $23.21, for a total value of $162,934.20. Following the completion of the transaction, the director now owns 174,903 shares of the company’s stock, valued at approximately $4,059,498.63. This represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

QNST has been the topic of several analyst reports. Barrington Research raised their price objective on QuinStreet from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Craig Hallum increased their price objective on shares of QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Stephens raised their target price on shares of QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. 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 research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.00.

QuinStreet 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.