QuinStreet (NASDAQ:QNST) Shares Down 11.6% Following Weak Earnings

QuinStreet, Inc. (NASDAQ:QNST)’s stock price was down 11.6% during trading on Friday following a weaker than expected earnings announcement. The company traded as low as $21.57 and last traded at $22.26. Approximately 340,337 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 444,577 shares. The stock had previously closed at $25.17.

The technology company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QNST. StockNews.com cut QuinStreet from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Craig Hallum raised their target price on shares of QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Lake Street Capital boosted their price target on QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Barrington Research restated an “outperform” rating and set a $29.00 target price on shares of QuinStreet in a research report on Friday. Finally, B. Riley increased their price target on QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Insider Activity at QuinStreet

In other QuinStreet news, Director Stuart Huizinga sold 2,980 shares of QuinStreet stock in a transaction on Friday, November 29th. The stock was sold at an average price of $23.00, for a total transaction of $68,540.00. Following the sale, the director now owns 171,923 shares of the company’s stock, valued at $3,954,229. The trade was a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Glickman sold 30,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total transaction of $678,900.00. Following the completion of the transaction, the director now owns 113,140 shares of the company’s stock, valued at $2,560,358.20. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock worth $910,374 in the last ninety days. 5.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of QNST. US Bancorp DE grew its position in 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 in the last quarter. Quantbot Technologies LP purchased a new position in shares of QuinStreet during the third quarter valued at $29,000. Arcadia Investment Management Corp MI acquired a new position in QuinStreet during the fourth quarter valued at $38,000. KBC Group NV raised its position in QuinStreet by 64.5% during the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock valued at $82,000 after buying an additional 1,396 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in QuinStreet by 43.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company’s stock worth $88,000 after acquiring an additional 1,162 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

QuinStreet Trading Down 11.5 %

The stock has a 50-day simple moving average of $22.72 and a 200 day simple moving average of $20.58. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -55.71 and a beta of 1.06.

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.