Zacks Investment Research Lowers TheStreet, Inc. (TST) to Hold
TheStreet, Inc. (NASDAQ:TST) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday.
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 reissued a “buy” rating and issued a $2.10 price target on shares of TheStreet in a report on Tuesday, August 8th.
TheStreet (NASDAQ TST) opened at 1.07 on Friday. The company has a 50 day moving average of $0.93 and a 200 day moving average of $0.86. The company’s market capitalization is $38.38 million. TheStreet has a 52-week low of $0.61 and a 52-week high of $1.13.
TheStreet (NASDAQ:TST) last posted its quarterly earnings results on Tuesday, August 1st. The information services provider reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. TheStreet had a negative return on equity of 1.30% and a negative net margin of 21.87%. The company had revenue of $15.96 million for the quarter, compared to analysts’ expectations of $15.72 million. On average, equities research analysts forecast that TheStreet will post ($0.03) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in TheStreet by 1.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,743,100 shares of the information services provider’s stock worth $1,325,000 after acquiring an additional 24,700 shares during the last quarter. HighTower Advisors LLC increased its stake in TheStreet by 5.6% in the 1st quarter. HighTower Advisors LLC now owns 3,100,465 shares of the information services provider’s stock worth $2,357,000 after acquiring an additional 165,053 shares during the last quarter. Finally, Cannell Capital LLC increased its stake in TheStreet by 6.3% in the 1st quarter. Cannell Capital LLC now owns 3,378,347 shares of the information services provider’s stock worth $2,568,000 after acquiring an additional 200,000 shares during the last quarter. 46.84% of the stock is currently 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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