American Century Companies Inc. Boosts Stake in QuinStreet, Inc. (NASDAQ:QNST)

American Century Companies Inc. grew its stake in shares of QuinStreet, Inc. (NASDAQ:QNST) by 9.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,228,568 shares of the technology company’s stock after acquiring an additional 201,052 shares during the period. American Century Companies Inc.’s holdings in QuinStreet were worth $51,413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in QuinStreet in the third quarter valued at $29,000. Arcadia Investment Management Corp MI acquired a new stake in QuinStreet in the 4th quarter valued at about $38,000. KBC Group NV increased its holdings in QuinStreet by 64.5% during the 4th 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 in the last quarter. PNC Financial Services Group Inc. raised its position in QuinStreet by 43.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company’s stock worth $88,000 after acquiring an additional 1,162 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of QuinStreet in the fourth quarter valued at about $112,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on QNST. B. Riley reissued a “buy” rating and set a $34.00 price objective (up from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Lake Street Capital boosted their price target on QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Barrington Research reaffirmed an “outperform” rating and set a $29.00 price objective on shares of QuinStreet in a research note on Wednesday. Finally, StockNews.com raised shares of QuinStreet from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.80.

Insider Buying and Selling

In other QuinStreet news, CEO Douglas Valenti sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $25.02, for a total transaction of $250,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,836,754 shares in the company, valued at $45,955,585.08. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gregory Wong sold 8,516 shares of the firm’s stock in a transaction 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 directly owns 337,031 shares in the company, valued at approximately $7,711,269.28. This represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

QuinStreet Trading Down 3.1 %

Shares of NASDAQ:QNST opened at $18.75 on Thursday. QuinStreet, Inc. has a 12-month low of $15.20 and a 12-month high of $26.27. The stock’s 50-day moving average price is $20.96 and its two-hundred day moving average price is $20.96. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -85.23 and a beta of 1.13.

QuinStreet (NASDAQ:QNST) last released its earnings results on Thursday, February 6th. 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 1.31% and a negative return on equity of 4.13%. As a group, research analysts forecast that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

QuinStreet Company 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.