Thrivent Financial for Lutherans Cuts Stake in QuinStreet, Inc. (NASDAQ:QNST)

Thrivent Financial for Lutherans lessened its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST) by 78.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 582,975 shares of the technology company’s stock after selling 2,104,673 shares during the quarter. Thrivent Financial for Lutherans’ holdings in QuinStreet were worth $13,449,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in QNST. Quantbot Technologies LP acquired a new position in QuinStreet during the 3rd quarter valued at about $29,000. Arcadia Investment Management Corp MI purchased a new stake in shares of QuinStreet during the fourth quarter worth about $38,000. KBC Group NV grew its stake in shares of QuinStreet by 64.5% during the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock worth $82,000 after acquiring an additional 1,396 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of 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 acquiring an additional 1,162 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of QuinStreet in the 4th quarter valued at approximately $112,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Insider Buying and Selling

In other QuinStreet 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 transaction, 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 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 that occurred on Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total transaction of $250,200.00. Following the sale, the chief executive officer now owns 1,836,754 shares of the company’s stock, valued at $45,955,585.08. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.

QuinStreet Stock Up 1.8 %

QuinStreet stock opened at $18.58 on Friday. The company has a fifty day simple moving average of $21.11 and a 200-day simple moving average of $20.94. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -84.45 and a beta of 1.13. QuinStreet, Inc. has a 52-week low of $15.20 and a 52-week high of $26.27.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings data 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 net margin of 1.31% and a negative return on equity of 4.13%. On average, research analysts anticipate that QuinStreet, Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.