Assenagon Asset Management S.A. Sells 40,119 Shares of QuinStreet, Inc. (NASDAQ:QNST)

Assenagon Asset Management S.A. cut its position in QuinStreet, Inc. (NASDAQ:QNST) by 36.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 69,904 shares of the technology company’s stock after selling 40,119 shares during the period. Assenagon Asset Management S.A. owned approximately 0.12% of QuinStreet worth $1,247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new position in shares of QuinStreet during the fourth quarter valued at $38,000. PNC Financial Services Group Inc. raised its position 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 worth $88,000 after buying an additional 1,162 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in QuinStreet in the 4th quarter worth about $112,000. BankPlus Trust Department bought a new position in QuinStreet during the 4th quarter valued at about $198,000. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of QuinStreet during the 4th quarter valued at about $203,000. Institutional investors own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on QNST. Barrington Research reiterated an “outperform” rating and set a $29.00 price objective on shares of QuinStreet in a research report on Wednesday, April 23rd. Wall Street Zen downgraded QuinStreet from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Lake Street Capital lowered their price objective on shares of QuinStreet from $27.00 to $19.00 and set a “hold” rating on the stock in a research note on Thursday, May 8th. Finally, Stephens reissued an “overweight” rating and issued a $31.00 price objective on shares of QuinStreet in a report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.00.

QuinStreet Trading Up 0.3%

NASDAQ QNST opened at $15.19 on Wednesday. QuinStreet, Inc. has a 12 month low of $14.39 and a 12 month high of $26.27. The stock has a market cap of $857.78 million, a PE ratio of -1,517.48 and a beta of 0.73. The stock’s 50 day moving average is $16.06 and its 200 day moving average is $19.26.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.15. QuinStreet had a negative net margin of 0.06% and a positive return on equity of 1.08%. The company had revenue of $269.84 million for the quarter, compared to the consensus estimate of $270.36 million. During the same period in the previous year, the firm posted $0.06 EPS. QuinStreet’s revenue for the quarter was up 60.1% compared to the same quarter last year. On average, analysts forecast that QuinStreet, Inc. will post 0.12 EPS 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.