Meeder Asset Management Inc. Invests $397,000 in QuinStreet, Inc. $QNST

Meeder Asset Management Inc. purchased a new position in QuinStreet, Inc. (NASDAQ:QNST) during the first quarter, HoldingsChannel reports. The fund purchased 33,072 shares of the technology company’s stock, valued at approximately $397,000.

Other hedge funds have also recently bought and sold shares of the company. Balyasny Asset Management L.P. raised its holdings in QuinStreet by 1,000.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 900,264 shares of the technology company’s stock worth $12,937,000 after purchasing an additional 1,000,264 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in QuinStreet in the first quarter valued at $6,005,000. Assenagon Asset Management S.A. increased its position in shares of QuinStreet by 43.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,633,251 shares of the technology company’s stock valued at $23,470,000 after buying an additional 496,492 shares in the last quarter. Millennium Management LLC increased its position in shares of QuinStreet by 213.3% in the first quarter. Millennium Management LLC now owns 714,482 shares of the technology company’s stock valued at $12,746,000 after buying an additional 486,406 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of QuinStreet by 42.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,595,184 shares of the technology company’s stock worth $22,923,000 after buying an additional 472,407 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

QuinStreet Stock Down 5.1%

Shares of NASDAQ:QNST opened at $16.24 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.23. QuinStreet, Inc. has a 52-week low of $10.28 and a 52-week high of $18.02. The stock’s fifty day simple moving average is $13.71 and its 200-day simple moving average is $13.05. The company has a market capitalization of $932.83 million, a P/E ratio of 14.25 and a beta of 0.67.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. The business had revenue of $346.14 million for the quarter, compared to analyst estimates of $336.22 million. QuinStreet had a return on equity of 9.97% and a net margin of 5.53%.The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 earnings per share. As a group, equities research analysts forecast that QuinStreet, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Transactions at QuinStreet

In other QuinStreet news, CFO Gregory Wong sold 22,057 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $12.19, for a total transaction of $268,874.83. Following the sale, the chief financial officer directly owned 400,682 shares of the company’s stock, valued at $4,884,313.58. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.00% of the company’s stock.

About QuinStreet

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.