Private Capital Management LLC Sells 167,479 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Private Capital Management LLC reduced its stake in QuinStreet, Inc. (NASDAQ:QNST) by 3.9% during the 3rd quarter, Holdings Channel reports. The fund owned 4,093,749 shares of the technology company’s stock after selling 167,479 shares during the period. QuinStreet makes up about 15.6% of Private Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. Private Capital Management LLC owned about 0.07% of QuinStreet worth $78,313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in QNST. US Bancorp DE increased its stake in shares of QuinStreet by 880.3% during the third 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 bought a new position in QuinStreet during the 3rd quarter worth $29,000. Arcadia Investment Management Corp MI acquired a new stake in shares of QuinStreet during the fourth quarter worth $38,000. KBC Group NV boosted its position in shares of QuinStreet by 64.5% in the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock valued at $82,000 after acquiring an additional 1,396 shares during the period. Finally, Quarry LP grew its stake in shares of QuinStreet by 279.7% in the third quarter. Quarry LP now owns 8,681 shares of the technology company’s stock valued at $166,000 after acquiring an additional 6,395 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on QNST. Stephens boosted their price objective on shares of QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. B. Riley reissued a “buy” rating and set a $34.00 price target (up previously from $32.00) on shares of QuinStreet in a research 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. Craig Hallum upped their target price on QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Barrington Research restated an “outperform” rating and issued a $29.00 price target 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 given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.80.

QuinStreet Price Performance

NASDAQ QNST opened at $19.30 on Friday. The business has a fifty day moving average price of $22.63 and a two-hundred day moving average price of $20.92. The stock has a market capitalization of $1.09 billion, a PE ratio of -87.73 and a beta of 1.06. QuinStreet, Inc. has a fifty-two week low of $14.14 and a fifty-two week high of $26.27.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings data 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 return on equity of 4.13% and a negative net margin of 1.31%. As a group, sell-side analysts expect that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other news, CEO Douglas Valenti sold 10,000 shares of the business’s 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 directly owns 1,836,754 shares in the company, valued at approximately $45,955,585.08. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gregory Wong sold 8,516 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $22.88, for a total transaction of $194,846.08. Following the completion of the transaction, 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 disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.

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.