Assenagon Asset Management S.A. Acquires 1,063,107 Shares of QuinStreet, Inc. $QNST

Assenagon Asset Management S.A. grew its holdings in QuinStreet, Inc. (NASDAQ:QNST) by 1,443.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,136,759 shares of the technology company’s stock after acquiring an additional 1,063,107 shares during the period. Assenagon Asset Management S.A. owned 1.98% of QuinStreet worth $17,586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of QNST. Farther Finance Advisors LLC boosted its holdings in QuinStreet by 885.1% in the second quarter. Farther Finance Advisors LLC now owns 7,221 shares of the technology company’s stock worth $116,000 after purchasing an additional 6,488 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of QuinStreet during the 2nd quarter worth about $170,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of QuinStreet during the 2nd quarter worth about $190,000. Lazard Asset Management LLC increased its holdings in shares of QuinStreet by 225.4% during the 2nd quarter. Lazard Asset Management LLC now owns 12,008 shares of the technology company’s stock valued at $193,000 after acquiring an additional 8,318 shares during the last quarter. Finally, PharVision Advisers LLC acquired a new position in shares of QuinStreet during the 2nd quarter valued at about $196,000. Institutional investors own 97.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded QuinStreet from a “hold” rating to a “buy” rating in a report on Friday, September 26th. Barrington Research set a $24.00 price target on shares of QuinStreet in a research report on Wednesday, October 22nd. Finally, Weiss Ratings raised shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, QuinStreet currently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

QuinStreet Stock Performance

NASDAQ:QNST opened at $14.46 on Friday. The company has a 50-day moving average of $14.30 and a 200-day moving average of $15.24. QuinStreet, Inc. has a 52 week low of $12.98 and a 52 week high of $25.50. The company has a market capitalization of $820.61 million, a price-to-earnings ratio of 76.11 and a beta of 0.75.

QuinStreet (NASDAQ:QNST) last posted its earnings results on Thursday, November 6th. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.09 by $0.13. QuinStreet had a return on equity of 6.91% and a net margin of 0.96%.The business had revenue of $285.85 million during the quarter, compared to the consensus estimate of $279.73 million. During the same quarter last year, the company earned $0.22 EPS. QuinStreet’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts forecast that QuinStreet, Inc. will post 0.12 EPS for the current year.

QuinStreet Profile

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.