First Eagle Investment Management LLC Trims Holdings in QuinStreet, Inc. $QNST

First Eagle Investment Management LLC lowered its stake in shares of QuinStreet, Inc. (NASDAQ:QNST) by 36.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 460,874 shares of the technology company’s stock after selling 265,000 shares during the quarter. First Eagle Investment Management LLC’s holdings in QuinStreet were worth $7,130,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its holdings in QuinStreet by 58.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 708,367 shares of the technology company’s stock valued at $11,405,000 after purchasing an additional 261,802 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of QuinStreet by 113.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 137,123 shares of the technology company’s stock valued at $2,121,000 after buying an additional 73,021 shares during the period. Russell Investments Group Ltd. lifted its holdings in QuinStreet by 35.3% in the second quarter. Russell Investments Group Ltd. now owns 247,885 shares of the technology company’s stock valued at $3,991,000 after acquiring an additional 64,707 shares during the last quarter. AlphaQuest LLC lifted its holdings in QuinStreet by 253.0% in the third quarter. AlphaQuest LLC now owns 103,890 shares of the technology company’s stock valued at $1,607,000 after acquiring an additional 74,460 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in QuinStreet by 2.2% in the second quarter. Geode Capital Management LLC now owns 1,361,252 shares of the technology company’s stock worth $21,918,000 after acquiring an additional 29,783 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on QNST. Lake Street Capital set a $15.00 target price on QuinStreet in a research report on Friday, February 6th. B. Riley Financial increased their price target on QuinStreet from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Barrington Research restated an “outperform” rating and issued a $24.00 price objective on shares of QuinStreet in a report on Friday, February 6th. Finally, Weiss Ratings raised shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 9th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, QuinStreet currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

QuinStreet Price Performance

Shares of QuinStreet stock opened at $11.73 on Wednesday. The stock has a market capitalization of $668.49 million, a price-to-earnings ratio of 10.76 and a beta of 0.70. The business has a 50-day moving average of $13.20 and a 200 day moving average of $14.31. QuinStreet, Inc. has a 12 month low of $10.28 and a 12 month high of $19.52.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Thursday, February 5th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. QuinStreet had a net margin of 5.64% and a return on equity of 9.55%. The business had revenue of $287.85 million for the quarter, compared to analysts’ expectations of $275.07 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts anticipate that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

QuinStreet Company Profile

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.