TheStreet (NASDAQ:TST) was downgraded by equities research analysts at Lake Street Capital from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, The Fly reports. They presently have a $6.33 price target on the information services provider’s stock, down from their prior price target of $9.00. Lake Street Capital’s target price suggests a potential upside of 4.46% from the stock’s previous close.
Other equities analysts have also issued reports about the stock. ValuEngine raised shares of TheStreet from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research raised shares of TheStreet from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, March 5th. B. Riley reaffirmed a “buy” rating on shares of TheStreet in a research report on Wednesday, March 13th. Finally, Northland Securities raised their target price on shares of TheStreet from $3.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $17.83.
NASDAQ:TST traded up $0.38 during mid-day trading on Wednesday, reaching $6.06. 399,049 shares of the company’s stock were exchanged, compared to its average volume of 19,762. TheStreet has a one year low of $5.48 and a one year high of $25.00. The firm has a market cap of $30.95 million, a price-to-earnings ratio of -10.10 and a beta of 0.19.
TheStreet (NASDAQ:TST) last released its quarterly earnings results on Tuesday, May 14th. The information services provider reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. TheStreet had a net margin of 143.87% and a negative return on equity of 2.61%. The business had revenue of $6.69 million for the quarter, compared to analyst estimates of $9.37 million. During the same period last year, the firm earned ($0.10) earnings per share. As a group, analysts anticipate that TheStreet will post -1.49 EPS for the current fiscal year.
In other news, major shareholder Cannell Capital Llc bought 11,989 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were purchased at an average cost of $6.71 per share, with a total value of $80,446.19. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders acquired 15,688 shares of company stock worth $105,742. Insiders own 30.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. acquired a new stake in TheStreet during the 1st quarter worth approximately $48,000. B. Riley Wealth Management Inc. boosted its position in TheStreet by 33.1% during the 4th quarter. B. Riley Wealth Management Inc. now owns 44,709 shares of the information services provider’s stock worth $91,000 after buying an additional 11,118 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in TheStreet during the 1st quarter worth approximately $111,000. Northern Trust Corp boosted its position in TheStreet by 54.4% during the 4th quarter. Northern Trust Corp now owns 84,289 shares of the information services provider’s stock worth $171,000 after buying an additional 29,704 shares during the period. Finally, Morgan Stanley boosted its position in TheStreet by 21,929.7% during the 1st quarter. Morgan Stanley now owns 84,594 shares of the information services provider’s stock worth $197,000 after buying an additional 84,210 shares during the period.
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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