Technology Crossover Management VI L.L.C. purchased a new position in shares of TheStreet, Inc. (NASDAQ:TST) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,000,000 shares of the information services provider’s stock, valued at approximately $8,700,000. TheStreet accounts for 9.8% of Technology Crossover Management VI L.L.C.’s investment portfolio, making the stock its 2nd biggest holding. Technology Crossover Management VI L.L.C. owned about 12.24% of TheStreet as of its most recent filing with the Securities and Exchange Commission.
Separately, Renaissance Technologies LLC grew its stake 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 buying an additional 261,593 shares during the last quarter. Hedge funds and other institutional investors own 44.15% of the company’s stock.
A number of research firms recently weighed in on TST. ValuEngine upgraded TheStreet from a “sell” rating to a “hold” rating in a research note on Tuesday, November 14th. Northland Securities began coverage on TheStreet in a report on Wednesday, December 13th. They issued an “outperform” rating and a $3.00 price target for the company. Lake Street Capital lifted their price objective on TheStreet from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. B. Riley reaffirmed a “buy” rating and issued a $3.00 price objective on shares of TheStreet in a research report on Friday, March 2nd. Finally, Zacks Investment Research raised TheStreet from a “hold” rating to a “strong-buy” rating and set a $1.50 price target for the company in a research report on Friday, March 9th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $2.63.
Shares of TheStreet, Inc. (TST) traded down $0.01 during midday trading on Wednesday, reaching $1.65. The company’s stock had a trading volume of 297,077 shares, compared to its average volume of 152,976. The firm has a market capitalization of $80.13, a PE ratio of 2.86 and a beta of 0.80. TheStreet, Inc. has a 12-month low of $0.68 and a 12-month high of $1.70.
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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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