TheStreet (TST) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of TheStreet (NASDAQ:TST) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. Zacks Investment Research currently has $2.50 price objective on the information services provider’s stock.
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. “
A number of other equities research analysts have also weighed in on TST. B. Riley restated a buy rating on shares of TheStreet in a research note on Wednesday. ValuEngine lowered TheStreet from a buy rating to a hold rating in a research note on Monday, February 4th.
TheStreet (NASDAQ:TST) last posted its earnings results on Tuesday, March 12th. The information services provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. TheStreet had a negative return on equity of 3.35% and a net margin of 32.98%. The business had revenue of $13.92 million during the quarter, compared to analyst estimates of $13.60 million. During the same quarter last year, the firm earned $0.07 earnings per share. As a group, research analysts expect that TheStreet will post -0.08 EPS for the current fiscal year.
In other news, major shareholder Cannell Capital Llc bought 15,294 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was bought at an average price of $2.19 per share, for a total transaction of $33,493.86. The purchase was disclosed in a document filed with the SEC, which is available at this link. 30.00% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Cannell Capital LLC grew its position in shares of TheStreet by 64.0% in the 4th quarter. Cannell Capital LLC now owns 5,620,407 shares of the information services provider’s stock worth $11,409,000 after acquiring an additional 2,193,859 shares in the last quarter. B. Riley Financial Inc. lifted its holdings in shares of TheStreet by 1,524.9% in the 4th quarter. B. Riley Financial Inc. now owns 3,815,261 shares of the information services provider’s stock worth $7,745,000 after purchasing an additional 3,580,461 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of TheStreet by 28.5% in the 4th quarter. Impax Asset Management Group plc now owns 2,252,775 shares of the information services provider’s stock worth $4,573,000 after purchasing an additional 500,000 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of TheStreet by 9.0% in the 3rd quarter. Vanguard Group Inc now owns 1,491,340 shares of the information services provider’s stock worth $3,281,000 after purchasing an additional 123,066 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of TheStreet by 9.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,491,340 shares of the information services provider’s stock worth $3,281,000 after purchasing an additional 123,066 shares during the last quarter. Institutional investors own 54.00% of the company’s stock.
TheStreet Company Profile
TheStreet, Inc, a financial news and information provider, provides business to business (B2B) and business to consumer (B2C) content and products worldwide. The company operates through three segments: TheDeal/BoardEx, RateWatch, and Business to Consumer. Its B2B products include The Deal, a digital subscription model that delivers coverage primarily to institutional investors on changes in corporate control comprising merges and acquisitions, private equity, corporate activism, and restructuring; and BoardEx, an institutional relationship capital management database and platform, which holds profiles of approximately 1 million business leaders.
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