Insider Buying: TheStreet, Inc. (TST) Major Shareholder Purchases 11,989 Shares of Stock

TheStreet, Inc. (NASDAQ:TST) major shareholder Cannell Capital Llc bought 11,989 shares of the stock in a transaction dated Tuesday, May 7th. The stock was purchased at an average cost of $6.71 per share, for a total transaction of $80,446.19. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Friday, May 3rd, Cannell Capital Llc acquired 1,989 shares of TheStreet stock. The shares were bought at an average cost of $6.76 per share, for a total transaction of $13,445.64.
  • On Friday, April 26th, Cannell Capital Llc acquired 1,710 shares of TheStreet stock. The shares were bought at an average cost 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 shares were bought at an average cost of $2.19 per share, for a total transaction of $33,493.86.

TheStreet stock opened at $6.61 on Wednesday. TheStreet, Inc. has a 1 year low of $6.34 and a 1 year high of $25.00. The stock has a market cap of $36.26 million, a price-to-earnings ratio of -11.02 and a beta of 0.05.

TheStreet (NASDAQ:TST) last released its earnings results on Tuesday, March 12th. The information services provider reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.30. TheStreet had a net margin of 32.98% and a negative return on equity of 3.32%. The company had revenue of $13.92 million for the quarter, compared to the consensus estimate of $13.60 million. During the same period in the prior year, the company posted $0.70 EPS. Equities research analysts anticipate that TheStreet, Inc. will post -0.7 earnings per share for the current year.

The firm also recently announced a special dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 15th were given a dividend of $17.70 per share. The ex-dividend date was Tuesday, April 23rd.

A number of institutional investors have recently added to or reduced their stakes in TST. B. Riley Financial Inc. lifted its position in TheStreet by 1,524.9% during the 4th quarter. B. Riley Financial Inc. now owns 3,815,261 shares of the information services provider’s stock valued at $7,745,000 after purchasing an additional 3,580,461 shares during the period. Cannell Capital LLC lifted its position in TheStreet by 64.0% during the 4th quarter. Cannell Capital LLC now owns 5,620,407 shares of the information services provider’s stock valued at $11,409,000 after purchasing an additional 2,193,859 shares during the period. Impax Asset Management Group plc lifted its position in TheStreet by 28.5% during the 4th quarter. Impax Asset Management Group plc now owns 2,252,775 shares of the information services provider’s stock valued at $4,573,000 after purchasing an additional 500,000 shares during the period. Dimensional Fund Advisors LP lifted its position in TheStreet by 645.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 195,042 shares of the information services provider’s stock valued at $429,000 after purchasing an additional 168,874 shares during the period. Finally, Vanguard Group Inc lifted its position in TheStreet by 9.0% during the 3rd quarter. Vanguard Group Inc now owns 1,491,340 shares of the information services provider’s stock valued at $3,281,000 after purchasing an additional 123,066 shares during the period.

A number of equities research analysts have commented on the stock. Zacks Investment Research raised shares of TheStreet from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Thursday, March 14th. Lake Street Capital set a $30.00 price objective on shares of TheStreet and gave the stock a “buy” rating in a report on Thursday, April 4th. ValuEngine raised shares of TheStreet from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, B. Riley reissued a “buy” rating on shares of TheStreet in a report on Wednesday, March 13th.

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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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