Assenagon Asset Management S.A. Has $2.11 Million Stake in QuinStreet, Inc. (NASDAQ:QNST)

Assenagon Asset Management S.A. trimmed its holdings in QuinStreet, Inc. (NASDAQ:QNST) by 40.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,023 shares of the technology company’s stock after selling 73,227 shares during the period. Assenagon Asset Management S.A. owned 0.20% of QuinStreet worth $2,105,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Louisiana State Employees Retirement System lifted its position in shares of QuinStreet by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 26,400 shares of the technology company’s stock valued at $438,000 after buying an additional 600 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of QuinStreet by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 20,539 shares of the technology company’s stock valued at $341,000 after buying an additional 719 shares during the last quarter. PEAK6 Investments LLC lifted its position in shares of QuinStreet by 3.4% in the first quarter. PEAK6 Investments LLC now owns 25,680 shares of the technology company’s stock valued at $454,000 after buying an additional 843 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in QuinStreet by 1.9% during the 1st quarter. Texas Permanent School Fund Corp now owns 45,638 shares of the technology company’s stock worth $806,000 after purchasing an additional 847 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in QuinStreet by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 156,530 shares of the technology company’s stock worth $2,597,000 after purchasing an additional 1,652 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

QuinStreet Price Performance

QuinStreet stock opened at $21.00 on Friday. The stock’s fifty day moving average price is $19.16 and its two-hundred day moving average price is $18.02. QuinStreet, Inc. has a one year low of $10.22 and a one year high of $21.85. The firm has a market cap of $1.16 billion, a PE ratio of -13.46 and a beta of 1.11.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. QuinStreet had a negative return on equity of 13.00% and a negative net margin of 5.11%. The firm had revenue of $198.32 million for the quarter, compared to analyst estimates of $186.39 million. During the same quarter last year, the company earned ($1.03) EPS. The company’s revenue was up 52.2% on a year-over-year basis. Sell-side analysts expect that QuinStreet, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barrington Research reissued an “outperform” rating and set a $22.00 price target on shares of QuinStreet in a report on Friday, August 9th. Craig Hallum lifted their price target on QuinStreet from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 9th. B. Riley lifted their price target on QuinStreet from $21.50 to $24.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com cut QuinStreet from a “hold” rating to a “sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.25.

QuinStreet 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.