TheStreet (TST) Sees Strong Trading Volume

TheStreet, Inc. (NASDAQ:TST) saw an uptick in trading volume on Friday . 817,620 shares were traded during mid-day trading, an increase of 509% from the previous session’s volume of 134,276 shares.The stock last traded at $1.47 and had previously closed at $1.42.

Several research analysts recently commented on TST shares. Northland Securities started coverage on shares of TheStreet in a research note on Wednesday, December 13th. They issued an “outperform” rating and a $3.00 price target on the stock. Lake Street Capital raised their price target on shares of TheStreet from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Tuesday, November 14th. ValuEngine raised shares of TheStreet from a “sell” rating to a “hold” rating in a research note on Tuesday, November 14th. B. Riley set a $2.00 price target on shares of TheStreet and gave the stock a “buy” rating in a research note on Monday, November 13th. Finally, Zacks Investment Research downgraded shares of TheStreet from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. TheStreet currently has a consensus rating of “Buy” and an average price target of $2.31.

The stock has a market cap of $70.09, a P/E ratio of -4.18 and a beta of 0.82.

TheStreet declared that its board has approved a stock buyback program on Monday, November 13th that authorizes the company to repurchase 5,000,000 outstanding shares. This repurchase authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

In related news, Director Stephen Zacharias purchased 20,000 shares of TheStreet stock in a transaction that occurred on Friday, December 1st. The shares were bought at an average price of $1.40 per share, with a total value of $28,000.00. Following the purchase, the director now directly owns 203,977 shares of the company’s stock, valued at approximately $285,567.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin Rendino purchased 50,000 shares of TheStreet stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average cost of $1.38 per share, for a total transaction of $69,000.00. Following the purchase, the director now directly owns 64,745 shares in the company, valued at $89,348.10. The disclosure for this purchase can be found here. Insiders purchased a total of 98,745 shares of company stock worth $136,801 in the last ninety days. 9.70% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Deutsche Bank AG grew its holdings in TheStreet by 48.4% during the 4th quarter. Deutsche Bank AG now owns 185,036 shares of the information services provider’s stock worth $268,000 after acquiring an additional 60,336 shares in the last quarter. Technology Crossover Management VI L.L.C. bought a new position in TheStreet during the 4th quarter worth about $8,700,000. Renaissance Technologies LLC grew its holdings in TheStreet by 12.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,316,393 shares of the information services provider’s stock worth $3,359,000 after acquiring an additional 261,593 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in TheStreet during the 3rd quarter worth about $221,000. Institutional investors own 33.48% of the company’s stock.

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TheStreet Company Profile

TheStreet, Inc (TheStreet) is a digital financial media company focused on the financial, and mergers and acquisitions environment. The Company’s collection of digital services provides users, subscribers and advertisers with a range of content and tools through a range of online, social media, tablet and mobile channels.

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