QuinStreet Inc (QNST) Sees Significant Growth in Short Interest

QuinStreet Inc (NASDAQ:QNST) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 871,286 shares, a growth of 40.0% from the January 12th total of 622,142 shares. Based on an average daily trading volume, of 353,441 shares, the short-interest ratio is presently 2.5 days. Currently, 2.5% of the shares of the company are sold short.

In other news, Director John G. Mcdonald sold 14,000 shares of QuinStreet stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $10.37, for a total transaction of $145,180.00. Following the completion of the sale, the director now directly owns 67,671 shares in the company, valued at $701,748.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Simons sold 229,716 shares of QuinStreet stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $8.63, for a total transaction of $1,982,449.08. The disclosure for this sale can be found here. Insiders have sold 475,650 shares of company stock valued at $4,214,765 over the last quarter. Insiders own 24.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in QuinStreet by 22.3% during the second quarter. Vanguard Group Inc. now owns 1,623,130 shares of the technology company’s stock valued at $6,768,000 after purchasing an additional 296,222 shares during the period. State Street Corp lifted its position in QuinStreet by 4.5% during the second quarter. State Street Corp now owns 764,300 shares of the technology company’s stock valued at $3,184,000 after purchasing an additional 32,730 shares during the period. Macquarie Group Ltd. acquired a new position in QuinStreet during the third quarter valued at $490,000. Schwab Charles Investment Management Inc. acquired a new position in QuinStreet during the third quarter valued at $441,000. Finally, Algert Global LLC acquired a new position in QuinStreet during the third quarter valued at $1,429,000. Institutional investors own 63.02% of the company’s stock.

Several research firms have recently commented on QNST. Zacks Investment Research upgraded shares of QuinStreet from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Friday. Stephens reiterated a “buy” rating and set a $11.50 price objective on shares of QuinStreet in a research note on Thursday, February 1st. Finally, Barrington Research began coverage on shares of QuinStreet in a research note on Tuesday, November 28th. They set an “outperform” rating and a $12.50 price objective for the company.

QuinStreet (QNST) opened at $11.67 on Friday. The stock has a market cap of $525.28, a price-to-earnings ratio of 233.40, a P/E/G ratio of 2.64 and a beta of 1.36. QuinStreet has a 1 year low of $2.96 and a 1 year high of $13.15.

QuinStreet (NASDAQ:QNST) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The company had revenue of $87.49 million during the quarter, compared to the consensus estimate of $75.18 million. QuinStreet had a net margin of 0.78% and a return on equity of 5.77%. The firm’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.04) earnings per share. research analysts forecast that QuinStreet will post 0.18 EPS for the current fiscal year.

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QuinStreet Company Profile

QuinStreet, Inc is an online performance marketing company. The Company provides vertically oriented customer acquisition programs for its clients. The Company operating segments include Direct Marketing Services (DMS) business. Its DMS business derives its net revenue from fees earned through the delivery of qualified leads, clicks, calls or customers, and display advertisements, or impressions.

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