QuinStreet, Inc. (NASDAQ:QNST) sees a significant decline in short-term interest

QuinStreet, Inc. (NASDAQ: QNST – Get a rating) was the target of a significant drop in short interest in August. As of August 31, there was short interest totaling 1,470,000 shares, a decrease of 20.1% from the total of 1,840,000 shares as of August 15. Based on an average trading volume of 297,800 shares, the day-to-cover ratio is currently 4.9 days. Currently, 3.3% of the company’s shares are sold short.

Institutional entries and exits

Hedge funds have recently changed their stakes in the company. Covestor Ltd bought a new position in shares of QuinStreet in the fourth quarter worth $40,000. KBC Group NV bought a new position in QuinStreet shares in the second quarter worth $42,000. Lazard Asset Management LLC increased its stake in QuinStreet stock by 54.2% in the second quarter. Lazard Asset Management LLC now owns 6,189 shares of the technology company worth $62,000 after buying 2,175 additional shares in the last quarter. Mutual of America Capital Management LLC increased its stake in QuinStreet stock by 17.1% in the second quarter. Mutual of America Capital Management LLC now owns 8,469 shares of the technology company worth $85,000 after buying 1,237 additional shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in QuinStreet during the second quarter at a value of $143,000. Hedge funds and other institutional investors hold 90.62% of the company’s shares.

QuinStreet Stock Performance

Shares of QNST traded down $0.08 during Thursday’s midday session, hitting $11.31. The company’s stock had a trading volume of 4,897 shares, compared to an average volume of 233,632. QuinStreet has a 52-week low of $8.28 and a 52-week high of $18.89. The company has a 50-day moving average price of $11.55 and a 200-day moving average price of $11.06. The stock has a market capitalization of $603.73 million, a price-earnings ratio of -124.76 and a beta of 0.99.

Analyst upgrades and downgrades

Several equity research analysts have commented on the company. TheStreet upgraded QuinStreet from a “d+” rating to a “c-” rating in a Friday, September 9 report. StockNews.com upgraded QuinStreet from a “sell” rating to a “hold” rating in a Wednesday, August 31, report. Two equity research analysts gave the stock a hold rating and two gave the company a buy rating. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

QuinStreet Company Profile

(Get a rating)

QuinStreet, Inc, an online performance marketing company, provides customer acquisition services for clients in the United States and internationally. The Company offers online marketing services, such as qualified clicks, leads, calls, apps and customers through its websites or third-party publishers.

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