Panagora Asset Management Inc. Trims Stake in QuinStreet Inc (QNST)

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Panagora Asset Management Inc. reduced its position in shares of QuinStreet Inc (NASDAQ:QNST) by 65.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,366 shares of the technology company’s stock after selling 141,993 shares during the period. Panagora Asset Management Inc.’s holdings in QuinStreet were worth $1,036,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of QuinStreet during the second quarter worth about $116,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of QuinStreet during the second quarter worth about $123,000. United Services Automobile Association bought a new stake in shares of QuinStreet during the second quarter worth about $142,000. Brown Advisory Inc. bought a new stake in shares of QuinStreet during the second quarter worth about $173,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of QuinStreet during the third quarter worth about $189,000. Institutional investors own 83.39% of the company’s stock.

In related news, Director James R. Simons sold 2,605 shares of the company’s stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $15.01, for a total value of $39,101.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory Wong sold 4,411 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $15.22, for a total value of $67,135.42. The disclosure for this sale can be found here. Insiders sold 260,166 shares of company stock worth $4,223,011 over the last quarter. 12.50% of the stock is currently owned by company insiders.

Shares of QNST stock opened at $15.65 on Wednesday. QuinStreet Inc has a one year low of $8.24 and a one year high of $17.75. The company has a market capitalization of $782.72 million, a P/E ratio of 41.79, a P/E/G ratio of 1.17 and a beta of 0.72.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Tuesday, October 30th. The technology company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. QuinStreet had a return on equity of 14.14% and a net margin of 4.60%. The business had revenue of $112.90 million for the quarter, compared to analysts’ expectations of $103.59 million. During the same period in the prior year, the business posted $0.08 earnings per share. The firm’s revenue was up 29.2% on a year-over-year basis. On average, equities analysts predict that QuinStreet Inc will post 0.54 EPS for the current fiscal year.

QNST has been the topic of several research reports. BidaskClub cut QuinStreet from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 5th. William Blair initiated coverage on QuinStreet in a report on Thursday, October 4th. They set an “outperform” rating on the stock. ValuEngine cut QuinStreet from a “buy” rating to a “hold” rating in a report on Thursday, November 8th. Zacks Investment Research cut QuinStreet from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Finally, Craig Hallum reiterated a “buy” rating on shares of QuinStreet in a report on Wednesday, October 31st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. QuinStreet currently has a consensus rating of “Buy” and a consensus target price of $17.79.

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QuinStreet Profile

QuinStreet, Inc, an Internet performance marketing company, provides customer acquisition services for its clients in the United States and internationally. It offers online marketing services to its clients in the form of qualified leads, inquiries, clicks, calls, applications, customers, display advertisements, or impressions through its Websites or third-party publishers.

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Institutional Ownership by Quarter for QuinStreet (NASDAQ:QNST)

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