QuinStreet (NASDAQ:QNST) Cut to Strong Sell at Zacks Investment Research

Zacks Investment Research lowered shares of QuinStreet (NASDAQ:QNST) from a hold rating to a strong sell rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “QuinStreet Inc, is a provider of online direct marketing and media services. The Company offers online messaging, email broadcasting, search engine marketing, and brand management services. It caters to education, financial services, healthcare, advertising, and tourism sectors. QuinStreet, Inc. also operates web portal which offers comprehensive consumer information service and companion insurance brokerage service to self-directed insurance shoppers. The Company vigilantly manages brand and regulatory compliance using proprietary technologies and staff. It does not support or use spyware, spam, or promotions that cheat customers. QuinStreet Inc. is headquartered in Foster City, California. “

Several other research firms also recently commented on QNST. BidaskClub downgraded shares of Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Lake Street Capital initiated coverage on shares of QuinStreet in a research note on Monday, June 24th. They set a buy rating and a $21.00 price objective for the company. Finally, Barrington Research restated a buy rating and set a $20.00 target price on shares of QuinStreet in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $19.00.

NASDAQ:QNST opened at $16.02 on Wednesday. QuinStreet has a 12 month low of $12.12 and a 12 month high of $20.02. The business’s fifty day moving average is $15.90. The firm has a market capitalization of $803.44 million, a P/E ratio of 57.21, a P/E/G ratio of 0.96 and a beta of 0.64.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Thursday, May 9th. The technology company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.11). QuinStreet had a return on equity of 8.30% and a net margin of 14.50%. The company had revenue of $116.23 million for the quarter, compared to analyst estimates of $119.63 million. As a group, analysts expect that QuinStreet will post 0.35 earnings per share for the current year.

In other QuinStreet news, CEO Douglas Valenti sold 32,500 shares of QuinStreet stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $16.09, for a total value of $522,925.00. Following the completion of the transaction, the chief executive officer now owns 232,500 shares of the company’s stock, valued at $3,740,925. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gregory Wong sold 30,000 shares of QuinStreet stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $16.17, for a total transaction of $485,100.00. Following the completion of the transaction, the chief financial officer now directly owns 256,844 shares of the company’s stock, valued at approximately $4,153,167.48. The disclosure for this sale can be found here. Insiders have sold 195,000 shares of company stock valued at $3,054,775 over the last 90 days. 12.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QNST. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in QuinStreet by 42.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,786 shares of the technology company’s stock valued at $37,000 after buying an additional 832 shares in the last quarter. Globeflex Capital L P purchased a new position in QuinStreet in the fourth quarter valued at $77,000. BNP Paribas Arbitrage SA increased its holdings in QuinStreet by 84,154.5% in the first quarter. BNP Paribas Arbitrage SA now owns 9,268 shares of the technology company’s stock valued at $124,000 after buying an additional 9,257 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in QuinStreet by 166.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,438 shares of the technology company’s stock valued at $154,000 after buying an additional 5,890 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in QuinStreet in the fourth quarter valued at $173,000. 95.89% of the stock is owned by institutional investors.

QuinStreet Company 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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