TheStreet (TST) Trading 5.5% Higher After Insider Buying Activity
TheStreet, Inc. (NASDAQ:TST) traded up 5.5% during mid-day trading on Thursday following insider buying activity. The company traded as high as $2.34 and last traded at $2.30. 552,410 shares were traded during mid-day trading, an increase of 497% from the average session volume of 92,600 shares. The stock had previously closed at $2.18.
Specifically, major shareholder Cannell Capital Llc bought 15,294 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was acquired at an average cost of $2.19 per share, with a total value of $33,493.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 30.00% of the stock is currently owned by insiders.
Several research analysts have issued reports on the stock. Zacks Investment Research raised shares of TheStreet from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a report on Thursday. B. Riley reaffirmed a “buy” rating on shares of TheStreet in a report on Wednesday. Finally, ValuEngine lowered shares of TheStreet from a “buy” rating to a “hold” rating in a research note on Monday, February 4th.
TheStreet (NASDAQ:TST) last announced its quarterly earnings results on Tuesday, March 12th. The information services provider reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. TheStreet had a net margin of 32.98% and a negative return on equity of 3.35%. The firm had revenue of $13.92 million during the quarter, compared to analyst estimates of $13.60 million. During the same period in the previous year, the business posted $0.07 earnings per share. On average, research analysts anticipate that TheStreet, Inc. will post -0.08 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in TST. B. Riley Financial Inc. grew its stake in shares of TheStreet by 1,524.9% in the fourth quarter. B. Riley Financial Inc. now owns 3,815,261 shares of the information services provider’s stock worth $7,745,000 after acquiring an additional 3,580,461 shares during the period. Cannell Capital LLC grew its stake in shares of TheStreet by 64.0% in the fourth 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 during the period. Impax Asset Management Group plc grew its stake in shares of TheStreet by 28.5% in the fourth quarter. Impax Asset Management Group plc now owns 2,252,775 shares of the information services provider’s stock worth $4,573,000 after acquiring an additional 500,000 shares during the period. Ativo Capital Management LLC grew its stake in shares of TheStreet by 530.2% in the third quarter. Ativo Capital Management LLC now owns 500,153 shares of the information services provider’s stock worth $1,100,000 after acquiring an additional 420,785 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of TheStreet by 645.3% in the third quarter. Dimensional Fund Advisors LP now owns 195,042 shares of the information services provider’s stock worth $429,000 after acquiring an additional 168,874 shares during the period. Hedge funds and other institutional investors own 54.00% of the company’s stock.
About TheStreet (NASDAQ:TST)
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.
Read More: Capital gains and your 401(k) or IRA
Receive News & Ratings for TheStreet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TheStreet and related companies with MarketBeat.com's FREE daily email newsletter.