Stock Alert: QuinStreet Jumps 13%

(RTTNews) - Shares of QuinStreet, Inc. (QNST) are gaining over 13% on Wednesday morning after the company announced it completed the sale of its Education media, client and campaign assets. The company also reaffirmed its first-quarter revenue outlook.

QNST is currently trading at $14.46, up $1.67 or 13.06%, on the Nasdaq.

QuinStreet said it has completed the sale of its education media, client and campaign assets to EducationDynamics, a private company, for $20 million in cash. The sale closed on August 31, 2020.

QuinStreet reiterated its outlook to deliver $125 to $130 million in revenue and mid-single digit adjusted EBITDA margin in the first quarter. This comes despite the divestiture of the Education client vertical and associated loss of revenue in the quarter, and reflects continued strong momentum in the Company's Auto Insurance and Home Services client verticals.