Lazard Asset Management LLC Buys 1,240,667 Shares of QuinStreet, Inc. $QNST

Lazard Asset Management LLC grew its stake in shares of QuinStreet, Inc. (NASDAQ:QNST) by 619.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,441,113 shares of the technology company’s stock after acquiring an additional 1,240,667 shares during the quarter. Lazard Asset Management LLC owned about 2.51% of QuinStreet worth $17,308,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in QuinStreet by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,983 shares of the technology company’s stock valued at $571,000 after purchasing an additional 1,381 shares during the period. Millennium Management LLC increased its stake in shares of QuinStreet by 213.3% in the 1st quarter. Millennium Management LLC now owns 714,482 shares of the technology company’s stock worth $12,746,000 after purchasing an additional 486,406 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of QuinStreet by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 540,286 shares of the technology company’s stock worth $9,639,000 after buying an additional 88,431 shares during the period. Caxton Associates LLP bought a new position in shares of QuinStreet during the 1st quarter valued at approximately $299,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in QuinStreet by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 113,366 shares of the technology company’s stock worth $2,022,000 after acquiring an additional 2,135 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Gregory Wong sold 10,338 shares of QuinStreet stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $15.00, for a total transaction of $155,070.00. Following the completion of the transaction, the chief financial officer directly owned 390,344 shares of the company’s stock, valued at approximately $5,855,160. The trade was a 2.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.00% of the company’s stock.

QuinStreet Stock Performance

NASDAQ:QNST opened at $16.13 on Thursday. The stock has a 50-day moving average price of $14.21 and a 200 day moving average price of $13.08. The stock has a market capitalization of $926.51 million, a P/E ratio of 14.15 and a beta of 0.67. QuinStreet, Inc. has a 12-month low of $10.28 and a 12-month high of $18.02. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.23.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.17 by $0.14. The business had revenue of $346.14 million for the quarter, compared to analysts’ expectations of $336.22 million. QuinStreet had a net margin of 5.53% and a return on equity of 9.97%. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. Equities research analysts forecast that QuinStreet, Inc. will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on QNST. Weiss Ratings upgraded shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 9th. Wall Street Zen cut shares of QuinStreet from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. B. Riley Financial raised shares of QuinStreet to a “strong-buy” rating in a research note on Thursday, April 2nd. Finally, Zacks Research cut shares of QuinStreet from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, QuinStreet currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

QuinStreet Company 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.