PNC Financial Services Group Inc. Acquires 1,162 Shares of QuinStreet, Inc. (NASDAQ:QNST)

PNC Financial Services Group Inc. boosted its holdings in QuinStreet, Inc. (NASDAQ:QNST) by 43.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,808 shares of the technology company’s stock after buying an additional 1,162 shares during the quarter. PNC Financial Services Group Inc.’s holdings in QuinStreet were worth $88,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of QuinStreet in the third quarter worth approximately $29,000. Arcadia Investment Management Corp MI purchased a new stake in QuinStreet in the fourth quarter worth approximately $38,000. KBC Group NV grew its position in QuinStreet by 64.5% in the 4th quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock worth $82,000 after purchasing an additional 1,396 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in QuinStreet during the 4th quarter valued at $112,000. Finally, BankPlus Trust Department purchased a new stake in QuinStreet during the 4th quarter valued at $198,000. Institutional investors own 97.83% of the company’s stock.

QuinStreet Stock Up 0.5 %

QNST stock opened at $19.35 on Wednesday. The business’s 50-day moving average price is $21.02 and its 200-day moving average price is $20.98. The stock has a market cap of $1.09 billion, a P/E ratio of -87.95 and a beta of 1.13. QuinStreet, Inc. has a twelve month low of $15.20 and a twelve month high of $26.27.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Thursday, February 6th. The technology company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). QuinStreet had a negative net margin of 1.31% and a negative return on equity of 4.13%. On average, equities research analysts expect that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity at QuinStreet

In related news, CFO Gregory Wong sold 8,516 shares of QuinStreet stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total transaction of $194,846.08. Following the sale, the chief financial officer now owns 337,031 shares of the company’s stock, valued at approximately $7,711,269.28. This trade represents a 2.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas Valenti sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total value of $250,200.00. Following the completion of the transaction, the chief executive officer now owns 1,836,754 shares of the company’s stock, valued at $45,955,585.08. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on QNST. B. Riley reaffirmed a “buy” rating and issued a $34.00 price objective (up previously from $32.00) on shares of QuinStreet in a report on Friday, February 7th. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Lake Street Capital increased their price objective on shares of QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. Finally, Barrington Research restated an “outperform” rating and set a $29.00 target price on shares of QuinStreet in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, QuinStreet currently has an average rating of “Moderate Buy” and a consensus target price of $29.80.

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.