K.J. Harrison & Partners Inc Makes New Investment in QuinStreet, Inc. $QNST

K.J. Harrison & Partners Inc purchased a new position in QuinStreet, Inc. (NASDAQ:QNST) in the second quarter, Holdings Channel reports. The institutional investor purchased 26,700 shares of the technology company’s stock, valued at approximately $391,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in QuinStreet by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,983 shares of the technology company’s stock worth $571,000 after purchasing an additional 1,381 shares in the last quarter. Millennium Management LLC increased its position in shares of QuinStreet by 213.3% during the first quarter. Millennium Management LLC now owns 714,482 shares of the technology company’s stock valued at $12,746,000 after buying an additional 486,406 shares during the period. Goldman Sachs Group Inc. increased its position in shares of QuinStreet by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 540,286 shares of the technology company’s stock valued at $9,639,000 after buying an additional 88,431 shares during the period. Caxton Associates LLP purchased a new stake in shares of QuinStreet in the first quarter worth about $299,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of QuinStreet by 1.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 113,366 shares of the technology company’s stock worth $2,022,000 after buying an additional 2,135 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on QNST. Wall Street Zen raised shares of QuinStreet from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings raised shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 9th. Zacks Research upgraded shares of QuinStreet from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 30th. B. Riley Financial reaffirmed a “buy” rating on shares of QuinStreet in a report on Friday, August 7th. Finally, Lake Street Capital upgraded QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

QuinStreet Stock Performance

Shares of QNST opened at $20.17 on Tuesday. QuinStreet, Inc. has a 12-month low of $10.28 and a 12-month high of $22.29. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.16 billion, a PE ratio of 14.30 and a beta of 0.66. The stock has a 50-day moving average price of $15.83 and a 200-day moving average price of $13.42.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. The company had revenue of $373.88 million for the quarter, compared to analysts’ expectations of $359.95 million. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. As a group, equities analysts forecast that QuinStreet, Inc. will post 0.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Douglas Valenti sold 751,631 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $20.50, for a total transaction of $15,408,435.50. Following the sale, the chief executive officer owned 996,278 shares in the company, valued at approximately $20,423,699. This trade represents a 43.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Wong sold 26,296 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $20.09, for a total transaction of $528,286.64. Following the sale, the chief financial officer owned 521,883 shares in the company, valued at approximately $10,484,629.47. This trade represents a 4.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 825,322 shares of company stock valued at $16,668,917 in the last quarter. Corporate insiders own 5.00% of the company’s stock.

About QuinStreet

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.