QuinStreet (NASDAQ:QNST) Shares Down 11.6% on Disappointing Earnings

QuinStreet, Inc. (NASDAQ:QNST)’s share price was down 11.6% on Friday following a weaker than expected earnings announcement. The company traded as low as $21.57 and last traded at $22.26. Approximately 340,337 shares changed hands during trading, a decline of 23% from the average daily volume of 444,577 shares. The stock had previously closed at $25.17.

The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). QuinStreet had a negative net margin of 2.88% and a negative return on equity of 8.79%.

Analyst Upgrades and Downgrades

QNST has been the topic of several research reports. B. Riley reissued a “buy” rating and issued a $34.00 target price (up previously from $32.00) on shares of QuinStreet in a report on Friday. Stephens boosted their price objective on shares of QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Lake Street Capital boosted their price objective on shares of QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Friday. Craig Hallum boosted their price objective on shares of QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Barrington Research reissued an “outperform” rating and set a $29.00 price objective on shares of QuinStreet in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.80.

Insider Activity

In other news, Director Stuart Huizinga sold 2,980 shares of QuinStreet stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $23.00, for a total transaction of $68,540.00. Following the completion of the sale, the director now directly owns 171,923 shares in the company, valued at $3,954,229. The trade was a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas Valenti sold 10,000 shares of QuinStreet stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total transaction of $250,200.00. Following the sale, the chief executive officer now owns 1,836,754 shares of the company’s stock, valued at approximately $45,955,585.08. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $1,160,574 over the last three months. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. US Bancorp DE lifted its stake in shares of QuinStreet by 880.3% during the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,250 shares during the period. Quantbot Technologies LP purchased a new stake in QuinStreet in the 3rd quarter valued at about $29,000. Arcadia Investment Management Corp MI purchased a new stake in QuinStreet in the 4th quarter valued at about $38,000. KBC Group NV grew its holdings in QuinStreet by 64.5% in the 4th quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock valued at $82,000 after buying an additional 1,396 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in QuinStreet by 43.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company’s stock valued at $88,000 after buying an additional 1,162 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

QuinStreet Stock Performance

The company has a market cap of $1.36 billion, a PE ratio of -60.25 and a beta of 1.06. The firm has a fifty day simple moving average of $22.72 and a 200 day simple moving average of $20.58.

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.