BNP Paribas Arbitrage SA grew its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST) by 259.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,337 shares of the technology company’s stock after acquiring an additional 8,904 shares during the period. BNP Paribas Arbitrage SA’s holdings in QuinStreet were worth $195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Bank of Montreal Can raised its holdings in shares of QuinStreet by 74.5% during the second quarter. Bank of Montreal Can now owns 5,854 shares of the technology company’s stock worth $59,000 after purchasing an additional 2,500 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of QuinStreet during the second quarter worth approximately $62,000. Diversified Trust Co acquired a new position in shares of QuinStreet in the third quarter valued at $167,000. Envestnet Asset Management Inc. raised its stake in shares of QuinStreet by 14.6% in the second quarter. Envestnet Asset Management Inc. now owns 14,689 shares of the technology company’s stock valued at $154,000 after purchasing an additional 1,876 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of QuinStreet by 46.8% in the first quarter. Royal Bank of Canada now owns 17,702 shares of the technology company’s stock valued at $142,000 after purchasing an additional 5,642 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the company. Zacks Investment Research lowered QuinStreet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 4th. Lake Street Capital boosted their price target on QuinStreet from $14.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Barrington Research upgraded QuinStreet from a “market perform” rating to an “outperform” rating and set a $17.00 target price for the company in a research note on Thursday, September 3rd. BidaskClub upgraded QuinStreet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 12th. Finally, TheStreet upgraded QuinStreet from a “c+” rating to a “b” rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $17.67.
QuinStreet (NASDAQ:QNST) last announced its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. QuinStreet had a return on equity of 7.49% and a net margin of 3.69%. On average, equities research analysts expect that QuinStreet, Inc. will post 0.17 earnings per share for the current year.
In related news, CEO Douglas Valenti sold 29,041 shares of the company’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $16.91, for a total value of $491,083.31. Following the transaction, the chief executive officer now directly owns 405,452 shares of the company’s stock, valued at approximately $6,856,193.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David J. Pauldine sold 37,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 17th. The shares were sold at an average price of $17.28, for a total value of $648,000.00. Following the completion of the transaction, the director now directly owns 49,998 shares in the company, valued at $863,965.44. The disclosure for this sale can be found here. Insiders sold a total of 281,016 shares of company stock worth $4,811,374 over the last ninety days. 9.00% of the stock is currently owned by insiders.
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 to its clients in the form of qualified clicks, leads, inquiries, calls, applications, customers, display advertisements, or impressions through its websites or third-party publishers.
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