Private Capital Management Cuts QNST Stake to 10.9%

TL;DR

**Private Capital Management just trimmed its QNST stake to 10.9%.**

AI Summary

Private Capital Management, LLC, a Delaware-based investment firm, has updated its holdings in Quinstreet, Inc. (QNST) as of December 31, 2023. The firm now beneficially owns 6,046,568 shares of Quinstreet's common stock, representing 10.9% of the company, a decrease from its previous reported stake. This matters to investors because a significant institutional holder has reduced its overall position, which could signal a change in their outlook on Quinstreet's future performance.

Why It Matters

This filing shows a major institutional investor has reduced its ownership in Quinstreet, which could be interpreted as a lack of confidence or a strategic portfolio adjustment, potentially influencing other investors' decisions.

Risk Assessment

Risk Level: medium — A significant reduction in ownership by a large institutional investor can sometimes precede further stock price declines if other investors follow suit.

Analyst Insight

Investors should investigate the reasons behind Private Capital Management's reduction in its Quinstreet stake and consider if this aligns with their own investment thesis for the company.

Key Numbers

• 6,046,568 — Total Shares Beneficially Owned (The total number of Quinstreet shares Private Capital Management, LLC now owns.)
• 10.9% — Percentage of Class Owned (The percentage of Quinstreet's common stock beneficially owned by Private Capital Management, LLC.)
• 3,239,943 — Sole Voting Power Shares (The number of shares over which Private Capital Management, LLC has sole voting power.)
• 2,806,625 — Shared Voting Power Shares (The number of shares over which Private Capital Management, LLC has shared voting power.)

Key Players & Entities

• Private Capital Management, LLC (company) — the reporting person decreasing its stake in Quinstreet, Inc.
• Quinstreet, Inc. (company) — the subject company whose shares are being reported
• Delaware (company) — state of organization for Private Capital Management, LLC
• December 31, 2023 (date) — the date of the event requiring this filing

Forward-Looking Statements

• Other institutional investors may review their positions in Quinstreet, Inc. following Private Capital Management's reduced stake. (Quinstreet, Inc.) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• qnst25240sc13ga10.htm (SC 13G/A) — 37KB
• 0001214659-24-001935.txt ( ) — 39KB

(a)

Item 1(a). Name of Issuer: Quinstreet, Inc.

(b)

Item 1(b). Address of Issuer's Principal Executive Offices: 950 Tower Lane, 6th Floor, Foster City, CA 94404

(a)

Item 2(a). Name of Person Filing: Private Capital Management, LLC

(b)

Item 2(b). Address of Principal Business Office or, if none, Residence: 8889 Pelican Bay Boulevard, Suite 500, Naples, Florida 34108

(c)

Item 2(c). Citizenship: USA

(d)

Item 2(d). Title of Class of Securities: Common Stock

(e)

Item 2(e). CUSIP Number: 74874Q100 Page 3 of 6 pages Item 3. If this Statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) o Broker or dealer registered under Section 15 of the Act; (b) o Bank as defined in Section 3(a)(6) of the Act; (c) o Insurance company as defined in Section 3(a)(19) of the Act; (d) x Investment company registered under Section 8 of the Investment Company Act of 1940; (e) o An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) o An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) o A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) o A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940; (j) o A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J); (k) o Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned**: 6,046,568 (b) Percent of Class: 11.08% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 3,239,943 (ii) shared power to vote or to direct the vote*: 2,806,625 (iii) sole power to dispose or to direct the disposition of: 3,239,943 (iv) shared power to dispose or to direct the disposition of: 2,806,625 Page 4 of 6 pages Item 5. If this statement is being filed to report the fact that as of the date h

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