Insider Buying: TheStreet, Inc. (NASDAQ:TST) Major Shareholder Purchases 1,989 Shares of Stock

TheStreet, Inc. (NASDAQ:TST) major shareholder Cannell Capital Llc acquired 1,989 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average price of $6.76 per share, for a total transaction of $13,445.64. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Cannell Capital Llc also recently made the following trade(s):

  • On Tuesday, May 7th, Cannell Capital Llc acquired 11,989 shares of TheStreet stock. The stock was acquired at an average price of $6.71 per share, for a total transaction of $80,446.19.
  • On Friday, April 26th, Cannell Capital Llc acquired 1,710 shares of TheStreet stock. The stock was acquired at an average price of $6.93 per share, for a total transaction of $11,850.30.
  • On Wednesday, March 13th, Cannell Capital Llc acquired 15,294 shares of TheStreet stock. The stock was acquired at an average price of $2.19 per share, for a total transaction of $33,493.86.

Shares of TST stock traded down $0.07 during midday trading on Thursday, hitting $6.31. The company had a trading volume of 10,034 shares, compared to its average volume of 19,585. TheStreet, Inc. has a 52-week low of $6.30 and a 52-week high of $25.00. The company has a market capitalization of $33.91 million, a P/E ratio of -10.52 and a beta of 0.05.

TheStreet (NASDAQ:TST) last announced its earnings results on Tuesday, May 14th. The information services provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. TheStreet had a negative return on equity of 2.61% and a net margin of 143.87%. The company had revenue of $6.69 million for the quarter, compared to the consensus estimate of $9.37 million. During the same period last year, the business posted ($0.10) EPS. Research analysts expect that TheStreet, Inc. will post -1.49 EPS for the current year.

A number of research analysts recently issued reports on TST shares. ValuEngine downgraded TheStreet from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Zacks Investment Research downgraded TheStreet from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. B. Riley restated a “buy” rating on shares of TheStreet in a research note on Wednesday, March 13th. Lake Street Capital set a $30.00 price target on TheStreet and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, Northland Securities raised their price target on TheStreet from $3.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $23.75.

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in shares of TheStreet by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 231,864 shares of the information services provider’s stock valued at $540,000 after purchasing an additional 2,885 shares during the last quarter. B. Riley Wealth Management Inc. lifted its holdings in shares of TheStreet by 33.1% in the 4th quarter. B. Riley Wealth Management Inc. now owns 44,709 shares of the information services provider’s stock valued at $91,000 after buying an additional 11,118 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of TheStreet by 6.2% in the 4th quarter. Acadian Asset Management LLC now owns 260,738 shares of the information services provider’s stock valued at $529,000 after buying an additional 15,244 shares during the period. Cannell Capital LLC lifted its holdings in shares of TheStreet by 0.3% in the 1st quarter. Cannell Capital LLC now owns 5,635,701 shares of the information services provider’s stock valued at $13,131,000 after buying an additional 15,294 shares during the period. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of TheStreet in the 1st quarter valued at approximately $48,000.

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About TheStreet

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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