Cornerstone Investment Partners LLC Takes $165,000 Position in QuinStreet, Inc. (NASDAQ:QNST)

Cornerstone Investment Partners LLC bought a new stake in QuinStreet, Inc. (NASDAQ:QNST) during the fourth quarter, Holdings Channel reports. The fund bought 12,865 shares of the technology company’s stock, valued at approximately $165,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QNST. JPMorgan Chase & Co. boosted its holdings in QuinStreet by 9.4% in the first quarter. JPMorgan Chase & Co. now owns 644,508 shares of the technology company’s stock valued at $7,476,000 after acquiring an additional 55,500 shares during the last quarter. Citigroup Inc. boosted its holdings in QuinStreet by 11.6% in the first quarter. Citigroup Inc. now owns 43,211 shares of the technology company’s stock valued at $501,000 after acquiring an additional 4,502 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in QuinStreet by 54.9% in the first quarter. MetLife Investment Management LLC now owns 28,152 shares of the technology company’s stock valued at $327,000 after acquiring an additional 9,979 shares during the last quarter. Rhumbline Advisers boosted its holdings in QuinStreet by 6.5% in the first quarter. Rhumbline Advisers now owns 128,656 shares of the technology company’s stock valued at $1,492,000 after acquiring an additional 7,846 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in QuinStreet by 14.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 43,268 shares of the technology company’s stock valued at $502,000 after acquiring an additional 5,551 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

QuinStreet Stock Performance

NASDAQ:QNST opened at $16.80 on Friday. QuinStreet, Inc. has a one year low of $6.79 and a one year high of $17.76. The business’s 50-day simple moving average is $16.13 and its 200 day simple moving average is $13.24. The stock has a market cap of $922.15 million, a price-to-earnings ratio of -11.67 and a beta of 1.14.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.05). QuinStreet had a negative return on equity of 32.98% and a negative net margin of 14.28%. The business had revenue of $122.68 million during the quarter, compared to analyst estimates of $116.46 million. On average, equities research analysts predict that QuinStreet, Inc. will post -0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on QNST. Stephens boosted their price objective on QuinStreet from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of QuinStreet in a research note on Thursday, February 8th. B. Riley began coverage on QuinStreet in a research note on Friday. They set a “buy” rating and a $21.50 price objective on the stock. Finally, StockNews.com upgraded QuinStreet to a “sell” rating in a research note on Saturday, April 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $16.38.

Insider Activity at QuinStreet

In related news, CFO Gregory Wong sold 8,407 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $15.03, for a total value of $126,357.21. Following the completion of the sale, the chief financial officer now directly owns 295,204 shares of the company’s stock, valued at $4,436,916.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.30% of the stock is owned by corporate insiders.

QuinStreet 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.