Corebridge Financial Inc. Reduces Stock Holdings in QuinStreet, Inc. (NASDAQ:QNST)

Corebridge Financial Inc. lessened its stake in shares of QuinStreet, Inc. (NASDAQ:QNST) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,755 shares of the technology company’s stock after selling 1,575 shares during the quarter. Corebridge Financial Inc.’s holdings in QuinStreet were worth $663,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in QuinStreet by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company’s stock valued at $9,480,000 after acquiring an additional 40,236 shares during the last quarter. FMR LLC increased its position in shares of QuinStreet by 5.2% during the third quarter. FMR LLC now owns 2,233,345 shares of the technology company’s stock worth $42,724,000 after purchasing an additional 109,892 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of QuinStreet in the 3rd quarter valued at about $29,000. BNP Paribas Financial Markets lifted its holdings in shares of QuinStreet by 145.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 52,209 shares of the technology company’s stock valued at $999,000 after purchasing an additional 30,969 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of QuinStreet in the 3rd quarter valued at about $379,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Insider Buying and Selling at QuinStreet

In other QuinStreet news, CFO Gregory Wong sold 8,516 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $22.88, for a total value of $194,846.08. Following the completion of the sale, the chief financial officer now owns 337,031 shares of the company’s stock, valued at approximately $7,711,269.28. This trade represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas Valenti sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $25.02, for a total transaction of $250,200.00. Following the sale, the chief executive officer now owns 1,836,754 shares in the company, valued at $45,955,585.08. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.

QuinStreet Price Performance

Shares of NASDAQ QNST opened at $15.55 on Monday. The company has a market cap of $878.09 million, a PE ratio of -70.68 and a beta of 0.91. The stock has a fifty day moving average price of $20.29 and a 200 day moving average price of $20.88. QuinStreet, Inc. has a 1-year low of $15.20 and a 1-year high of $26.27.

QuinStreet (NASDAQ:QNST) last released its earnings results on Thursday, February 6th. The technology company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. Analysts anticipate that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. Lake Street Capital lifted their price target on QuinStreet from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. StockNews.com upgraded shares of QuinStreet from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Barrington Research reissued an “outperform” rating and set a $29.00 price objective on shares of QuinStreet in a research report on Wednesday, March 26th. Finally, B. Riley restated a “buy” rating and issued a $34.00 price objective (up from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.80.

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, such as qualified clicks, leads, calls, applications, and customers through its websites or third-party publishers.