Hsbc Holdings PLC Raises Position in QuinStreet, Inc. (NASDAQ:QNST)

Hsbc Holdings PLC increased its position in QuinStreet, Inc. (NASDAQ:QNST) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,010 shares of the technology company’s stock after acquiring an additional 2,600 shares during the quarter. Hsbc Holdings PLC owned about 0.07% of QuinStreet worth $775,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of QNST. Royce & Associates LP boosted its position in shares of QuinStreet by 6.0% in the fourth quarter. Royce & Associates LP now owns 1,263,555 shares of the technology company’s stock worth $27,091,000 after purchasing an additional 71,500 shares during the period. Victory Capital Management Inc. increased its holdings in shares of QuinStreet by 12.9% in the third quarter. Victory Capital Management Inc. now owns 18,195 shares of the technology company’s stock worth $288,000 after purchasing an additional 2,082 shares during the last quarter. Rhumbline Advisers lifted its position in shares of QuinStreet by 5.1% in the fourth quarter. Rhumbline Advisers now owns 147,755 shares of the technology company’s stock worth $3,168,000 after buying an additional 7,131 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in QuinStreet during the third quarter valued at approximately $1,695,000. Finally, Full18 Capital LLC purchased a new position in QuinStreet during the 4th quarter valued at approximately $1,663,000. 86.61% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:QNST opened at $20.05 on Thursday. The firm has a market capitalization of $1.07 billion, a PE ratio of 33.98, a PEG ratio of 12.46 and a beta of 1.10. The stock’s fifty day moving average is $22.61 and its 200 day moving average is $20.10. QuinStreet, Inc. has a fifty-two week low of $7.31 and a fifty-two week high of $25.99.

QuinStreet (NASDAQ:QNST) last released its earnings results on Wednesday, February 3rd. The technology company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.15. QuinStreet had a return on equity of 12.51% and a net margin of 6.29%. The firm had revenue of $134.97 million for the quarter, compared to analysts’ expectations of $119.83 million. The business’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, analysts anticipate that QuinStreet, Inc. will post 0.06 earnings per share for the current fiscal year.

QNST has been the subject of a number of recent research reports. Lake Street Capital raised their target price on shares of QuinStreet from $20.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, February 4th. Zacks Investment Research upgraded shares of QuinStreet from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Friday, March 5th. Finally, Barrington Research increased their price target on shares of QuinStreet from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, February 4th.

In other news, CFO Gregory Wong sold 69,083 shares of the stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $24.54, for a total transaction of $1,695,296.82. Following the transaction, the chief financial officer now directly owns 168,354 shares in the company, valued at $4,131,407.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas Valenti sold 2,308 shares of QuinStreet stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $20.78, for a total transaction of $47,960.24. Following the transaction, the chief executive officer now directly owns 381,725 shares in the company, valued at $7,932,245.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 223,959 shares of company stock valued at $4,898,340. Corporate insiders own 9.00% of the company’s stock.

QuinStreet Company 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 to its clients in the form of qualified clicks, leads, inquiries, calls, applications, customers, display advertisements, or impressions through its websites or third-party publishers.

Further Reading: Bear Market – How and Why They Occur

Want to see what other hedge funds are holding QNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QuinStreet, Inc. (NASDAQ:QNST).

Institutional Ownership by Quarter for QuinStreet (NASDAQ:QNST)

Receive News & Ratings for QuinStreet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuinStreet and related companies with MarketBeat.com's FREE daily email newsletter.