QuinStreet Inc (QNST) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund raised its stake in shares of QuinStreet Inc (NASDAQ:QNST) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,587 shares of the technology company’s stock after buying an additional 3,561 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of QuinStreet worth $935,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. AQR Capital Management LLC raised its position in QuinStreet by 215.6% in the third quarter. AQR Capital Management LLC now owns 764,072 shares of the technology company’s stock valued at $10,368,000 after purchasing an additional 521,999 shares during the period. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of QuinStreet during the fourth quarter worth about $8,034,000. Osterweis Capital Management Inc. purchased a new stake in shares of QuinStreet during the third quarter worth about $4,079,000. Nordea Investment Management AB purchased a new stake in shares of QuinStreet during the third quarter worth about $4,072,000. Finally, Marshall Wace LLP purchased a new stake in shares of QuinStreet during the third quarter worth about $3,802,000. Institutional investors and hedge funds own 92.35% of the company’s stock.

A number of equities analysts recently commented on the company. Singular Research reiterated a “buy” rating on shares of QuinStreet in a research note on Thursday, March 7th. BidaskClub downgraded QuinStreet from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 7th. Zacks Investment Research downgraded QuinStreet from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, ValuEngine upgraded QuinStreet from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $17.79.

In related news, CEO Douglas Valenti sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $13.06, for a total transaction of $424,450.00. Following the sale, the chief executive officer now owns 251,250 shares of the company’s stock, valued at $3,281,325. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.50% of the stock is owned by insiders.

Shares of NASDAQ QNST traded down $0.01 during midday trading on Friday, hitting $13.19. 372,521 shares of the company’s stock were exchanged, compared to its average volume of 505,332. QuinStreet Inc has a twelve month low of $10.70 and a twelve month high of $20.02. The company has a market cap of $656.95 million, a PE ratio of 41.22, a P/E/G ratio of 1.19 and a beta of 0.75.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Thursday, February 7th. The technology company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. QuinStreet had a return on equity of 13.16% and a net margin of 15.83%. The firm had revenue of $104.10 million for the quarter, compared to analysts’ expectations of $103.43 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. As a group, equities research analysts forecast that QuinStreet Inc will post 0.44 earnings per share for the current year.

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About QuinStreet

QuinStreet, Inc, an Internet performance marketing company, provides customer acquisition services for its clients in the United States and internationally. It offers online marketing services to its clients in the form of qualified leads, inquiries, clicks, calls, applications, customers, display advertisements, or impressions through its Websites or third-party publishers.

Further Reading: Net Asset Value

Institutional Ownership by Quarter for QuinStreet (NASDAQ:QNST)

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