Legal & General Group Plc Invests $2.02 Million in QuinStreet, Inc. $QNST

Legal & General Group Plc purchased a new position in shares of QuinStreet, Inc. (NASDAQ:QNST) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 137,697 shares of the technology company’s stock, valued at approximately $2,017,000.

Several other institutional investors and hedge funds also recently made changes to their positions in QNST. BlackRock Inc. bought a new stake in QuinStreet during the 2nd quarter worth approximately $160,805,000. Lazard Asset Management LLC raised its stake in shares of QuinStreet by 619.0% during the first quarter. Lazard Asset Management LLC now owns 1,441,113 shares of the technology company’s stock valued at $17,308,000 after acquiring an additional 1,240,667 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of QuinStreet by 1,000.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 900,264 shares of the technology company’s stock worth $12,937,000 after purchasing an additional 1,000,264 shares during the period. NewEdge Wealth LLC acquired a new position in shares of QuinStreet during the second quarter worth $12,157,000. Finally, Heartland Advisors Inc. bought a new stake in shares of QuinStreet in the second quarter worth $8,790,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on QNST. B. Riley Financial restated a “buy” rating on shares of QuinStreet in a report on Friday, August 7th. Zacks Research raised QuinStreet from a “hold” rating to a “strong-buy” rating in a report on Friday, August 28th. Weiss Ratings upgraded QuinStreet from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. Lake Street Capital raised QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded QuinStreet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $22.00.

Insider Transactions at QuinStreet

In other news, Director Asmau Ahmed sold 15,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $20.85, for a total value of $312,750.00. Following the transaction, the director directly owned 34,979 shares of the company’s stock, valued at $729,312.15. The trade was a 30.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas Valenti sold 751,631 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $20.50, for a total value 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. The trade was a 43.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last ninety days, insiders sold 862,026 shares of company stock valued at $17,423,897. Corporate insiders own 5.00% of the company’s stock.

QuinStreet Stock Performance

QNST opened at $18.73 on Monday. QuinStreet, Inc. has a twelve month low of $10.28 and a twelve month high of $22.29. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average of $17.76 and a 200-day moving average of $14.19. The stock has a market cap of $1.07 billion, a PE ratio of 13.28 and a beta of 0.70.

QuinStreet (NASDAQ:QNST) last released its earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. The business had revenue of $373.88 million for the quarter, compared to analyst estimates of $359.95 million. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. On average, sell-side analysts predict that QuinStreet, Inc. will post 1.06 EPS for the current year.

QuinStreet 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.