Illinois Municipal Retirement Fund Has $566,000 Stake in QuinStreet, Inc. (NASDAQ:QNST)

Illinois Municipal Retirement Fund increased its holdings in QuinStreet, Inc. (NASDAQ:QNST) by 4.1% in the first quarter, Holdings Channel reports. The institutional investor owned 31,717 shares of the technology company’s stock after buying an additional 1,247 shares during the period. Illinois Municipal Retirement Fund’s holdings in QuinStreet were worth $566,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QNST. Driehaus Capital Management LLC raised its position in shares of QuinStreet by 28.4% in the fourth quarter. Driehaus Capital Management LLC now owns 2,787,695 shares of the technology company’s stock valued at $64,312,000 after buying an additional 617,216 shares in the last quarter. Invesco Ltd. increased its stake in QuinStreet by 177.8% in the fourth quarter. Invesco Ltd. now owns 946,108 shares of the technology company’s stock valued at $21,827,000 after acquiring an additional 605,500 shares during the last quarter. G2 Investment Partners Management LLC bought a new position in QuinStreet in the fourth quarter valued at approximately $7,203,000. BNP Paribas Financial Markets increased its stake in QuinStreet by 537.4% in the fourth quarter. BNP Paribas Financial Markets now owns 332,763 shares of the technology company’s stock valued at $7,677,000 after acquiring an additional 280,554 shares during the last quarter. Finally, Oberweis Asset Management Inc. bought a new position in QuinStreet in the fourth quarter valued at approximately $5,191,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Lake Street Capital decreased their price objective on shares of QuinStreet from $27.00 to $19.00 and set a “hold” rating on the stock in a research note on Thursday, May 8th. Stephens reissued an “overweight” rating and issued a $31.00 price objective on shares of QuinStreet in a research note on Thursday, May 8th. Wall Street Zen raised shares of QuinStreet from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. Finally, Barrington Research reissued an “outperform” rating and issued a $29.00 price objective on shares of QuinStreet in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, QuinStreet currently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

QuinStreet Stock Performance

NASDAQ QNST opened at $16.47 on Friday. The firm’s fifty day moving average price is $16.00 and its two-hundred day moving average price is $18.75. The stock has a market cap of $929.78 million, a PE ratio of -1,644.86 and a beta of 0.74. QuinStreet, Inc. has a fifty-two week low of $14.39 and a fifty-two week high of $26.27.

QuinStreet (NASDAQ:QNST) last posted its earnings results on Wednesday, May 7th. The technology company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.15. The firm had revenue of $269.84 million for the quarter, compared to analysts’ expectations of $270.36 million. QuinStreet had a negative net margin of 0.06% and a positive return on equity of 1.08%. The company’s revenue was up 60.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. As a group, sell-side analysts predict that QuinStreet, Inc. will post 0.12 earnings per share for the current fiscal year.

QuinStreet 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.