Bank of Montreal Can Makes New Investment in QuinStreet, Inc. (NASDAQ:QNST)

Bank of Montreal Can acquired a new stake in QuinStreet, Inc. (NASDAQ:QNST) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 106,113 shares of the technology company’s stock, valued at approximately $1,766,000. Bank of Montreal Can owned about 0.19% of QuinStreet at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of QNST. Public Sector Pension Investment Board raised its holdings in QuinStreet by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 115,519 shares of the technology company’s stock valued at $1,916,000 after buying an additional 7,921 shares during the period. ProShare Advisors LLC increased its position in QuinStreet by 52.8% during the second quarter. ProShare Advisors LLC now owns 16,258 shares of the technology company’s stock valued at $270,000 after acquiring an additional 5,619 shares during the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of QuinStreet in the second quarter valued at $6,499,000. Intech Investment Management LLC bought a new stake in shares of QuinStreet in the 2nd quarter worth about $269,000. Finally, First Eagle Investment Management LLC boosted its stake in shares of QuinStreet by 0.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 553,223 shares of the technology company’s stock worth $9,178,000 after purchasing an additional 4,000 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

QuinStreet Stock Performance

QuinStreet stock opened at $19.13 on Friday. The company has a market capitalization of $1.07 billion, a PE ratio of -12.26 and a beta of 1.11. The company has a 50 day moving average price of $18.66 and a 200-day moving average price of $17.77. QuinStreet, Inc. has a fifty-two week low of $8.44 and a fifty-two week high of $20.91.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Thursday, August 8th. The technology company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $198.32 million during the quarter, compared to analysts’ expectations of $186.39 million. QuinStreet had a negative return on equity of 13.00% and a negative net margin of 5.11%. The business’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.03) EPS. On average, analysts forecast that QuinStreet, Inc. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on QNST shares. B. Riley increased their price objective on shares of QuinStreet from $21.50 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Barrington Research reiterated an “outperform” rating and issued a $22.00 price target on shares of QuinStreet in a report on Friday, August 9th. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Craig Hallum increased their target price on QuinStreet from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.25.

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.