QuinStreet, Inc. (NASDAQ:QNST) Shares Sold by Mill Road Capital Management LLC

Mill Road Capital Management LLC cut its holdings in shares of QuinStreet, Inc. (NASDAQ:QNST) by 15.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 499,505 shares of the technology company’s stock after selling 91,300 shares during the period. QuinStreet comprises approximately 4.5% of Mill Road Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding. Mill Road Capital Management LLC’s holdings in QuinStreet were worth $9,556,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of QuinStreet by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 3,712,518 shares of the technology company’s stock valued at $65,563,000 after buying an additional 48,705 shares during the last quarter. FMR LLC grew its holdings in QuinStreet by 5.2% during the third quarter. FMR LLC now owns 2,233,345 shares of the technology company’s stock worth $42,724,000 after acquiring an additional 109,892 shares during the period. American Century Companies Inc. raised its position in QuinStreet by 27.5% during the second quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company’s stock valued at $33,763,000 after acquiring an additional 438,947 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in QuinStreet by 17.6% in the second quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company’s stock valued at $25,050,000 after acquiring an additional 225,720 shares during the period. Finally, Millennium Management LLC boosted its position in QuinStreet by 7.5% in the 2nd quarter. Millennium Management LLC now owns 804,223 shares of the technology company’s stock worth $13,342,000 after purchasing an additional 55,889 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

QuinStreet Stock Down 3.8 %

Shares of QNST opened at $22.26 on Wednesday. The firm’s fifty day moving average is $20.43 and its two-hundred day moving average is $18.70. The stock has a market cap of $1.25 billion, a PE ratio of -55.65 and a beta of 1.07. QuinStreet, Inc. has a 52-week low of $11.22 and a 52-week high of $26.27.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings data on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $279.22 million during the quarter, compared to the consensus estimate of $222.68 million. QuinStreet had a negative net margin of 2.88% and a negative return on equity of 8.79%. QuinStreet’s quarterly revenue was up 125.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.19) EPS. As a group, research analysts anticipate that QuinStreet, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. B. Riley raised their target price on QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum boosted their price target on shares of QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Lake Street Capital increased their price objective on shares of QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. StockNews.com raised shares of QuinStreet from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Barrington Research upped their price target on shares of QuinStreet from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Insider Activity

In other news, Director Matthew Glickman sold 30,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total value of $678,900.00. Following the sale, the director now directly owns 113,140 shares in the company, valued at approximately $2,560,358.20. This trade represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stuart Huizinga sold 7,020 shares of QuinStreet stock in a transaction on Monday, November 25th. The shares were sold at an average price of $23.21, for a total value of $162,934.20. Following the completion of the transaction, the director now owns 174,903 shares of the company’s stock, valued at approximately $4,059,498.63. This trade represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $910,374 in the last 90 days. Company insiders own 5.00% of the company’s stock.

QuinStreet Company Profile

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.