TheStreet Inc. (TST) Rating Increased to Hold at Zacks Investment Research
TheStreet Inc. (NASDAQ:TST) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “TheStreet.com, Inc. is a leading web-based provider of original, timely, comprehensive and trustworthy financial news, commentary and information aimed at helping readers make informed investment decisions. TheStreet.com combines the most important qualities of traditional print journalism –accuracy, intelligence, fairness and wit–with the web’s advantages as a financial news medium–timeliness, interactivity and global distribution. “
Separately, B. Riley reaffirmed a “buy” rating and set a $2.25 price target on shares of TheStreet in a research note on Friday, July 29th.
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Shares of TheStreet (NASDAQ:TST) opened at 1.11 on Thursday. The stock’s market capitalization is $39.13 million. TheStreet has a 52 week low of $0.82 and a 52 week high of $1.77. The firm’s 50-day moving average price is $1.18 and its 200 day moving average price is $1.16.
TheStreet (NASDAQ:TST) last posted its quarterly earnings results on Monday, August 1st. The company reported ($0.03) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.03). TheStreet had a negative net margin of 6.89% and a negative return on equity of 6.10%. The firm earned $16.30 million during the quarter, compared to the consensus estimate of $16.74 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Analysts expect that TheStreet will post ($0.20) earnings per share for the current year.
In other TheStreet news, Director Lawrence S. Kramer acquired 25,000 shares of TheStreet stock in a transaction that occurred on Wednesday, August 3rd. The stock was bought at an average price of $1.22 per share, with a total value of $30,500.00. Following the completion of the purchase, the director now directly owns 8,652 shares of the company’s stock, valued at approximately $10,555.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James J. Cramer acquired 25,100 shares of TheStreet stock in a transaction that occurred on Tuesday, August 9th. The stock was acquired at an average cost of $1.23 per share, with a total value of $30,873.00. Following the purchase, the director now directly owns 2,870,335 shares of the company’s stock, valued at $3,530,512.05. The disclosure for this purchase can be found here. 9.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Cannell Capital LLC raised its position in TheStreet by 10.5% in the second quarter. Cannell Capital LLC now owns 3,220,366 shares of the company’s stock valued at $3,639,000 after buying an additional 305,012 shares in the last quarter. HighTower Advisors LLC raised its position in TheStreet by 0.7% in the second quarter. HighTower Advisors LLC now owns 2,825,412 shares of the company’s stock valued at $3,193,000 after buying an additional 21,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in TheStreet by 7.2% in the first quarter. Renaissance Technologies LLC now owns 1,533,863 shares of the company’s stock valued at $1,902,000 after buying an additional 102,663 shares in the last quarter. 58.35% of the stock is owned by institutional investors.
TheStreet, Inc (TheStreet) is a digital financial media company focused on the financial, and mergers and acquisitions environment. The Company’s collection of digital services provides users, subscribers and advertisers with a range of content and tools through a range of online, social media, tablet and mobile channels.
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