Stifel Financial Corp Takes $207,000 Position in QuinStreet Inc (QNST)
Stifel Financial Corp purchased a new stake in QuinStreet Inc (NASDAQ:QNST) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,562 shares of the technology company’s stock, valued at approximately $207,000.
Other hedge funds also recently modified their holdings of the company. BB&T Corp acquired a new stake in shares of QuinStreet in the fourth quarter valued at about $259,000. Vanguard Group Inc grew its stake in QuinStreet by 7.5% during the third quarter. Vanguard Group Inc now owns 2,255,880 shares of the technology company’s stock worth $30,612,000 after purchasing an additional 158,003 shares during the period. First Hawaiian Bank acquired a new stake in QuinStreet during the fourth quarter worth approximately $502,000. Wells Fargo & Company MN grew its stake in QuinStreet by 46.8% during the third quarter. Wells Fargo & Company MN now owns 187,646 shares of the technology company’s stock worth $2,547,000 after purchasing an additional 59,821 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in QuinStreet by 13.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,516,440 shares of the technology company’s stock worth $20,578,000 after purchasing an additional 183,808 shares during the period. 92.35% of the stock is owned by institutional investors.
Several research firms recently commented on QNST. Singular Research reaffirmed a “buy” rating on shares of QuinStreet in a research note on Thursday, March 7th. BidaskClub cut QuinStreet from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Zacks Investment Research raised QuinStreet from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, ValuEngine cut QuinStreet from a “buy” rating to a “hold” rating in a research note on Wednesday, February 20th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $17.79.
QuinStreet (NASDAQ:QNST) last announced its quarterly earnings results on Thursday, February 7th. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $104.10 million for the quarter, compared to analyst estimates of $103.43 million. QuinStreet had a return on equity of 13.16% and a net margin of 15.83%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, equities analysts expect that QuinStreet Inc will post 0.44 EPS for the current year.
In other QuinStreet news, CEO Douglas Valenti sold 32,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $13.06, for a total value of $424,450.00. Following the transaction, the chief executive officer now owns 251,250 shares in the company, valued at $3,281,325. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.50% of the stock is currently owned by corporate insiders.
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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.
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