Northland Securities analyst Michael Grondahl maintained a Buy rating on TheStreet (TST) today and set a price target of $3. The company’s shares closed yesterday at $2.30.
Grondahl said:
“We highlight BoardEx generated reported revenue of $23.8M in 2017 and $25.6M in 2018. The sale closed in February 2019. With a successful close of the deal, TST was set have pro forma cash of $110M-$115M and planned to distribute a significant chunk to shareholders per the conference call with plans to update shareholders in coming weeks. TST is now distributing via special dividend $94.3M or $1.77 per share and potentially another $0.08 later in the year.”
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 28.2% and a 67.6% success rate. Grondahl covers the Financial sector, focusing on stocks such as Front Yard Residential Corporation, Altisource Portfolio Solutions SA, and Health Insurance Innovations.
TheStreet has an analyst consensus of Moderate Buy, with a price target consensus of $3.
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The company has a one-year high of $2.50 and a one-year low of $1.50. Currently, TheStreet has an average volume of 102.9K.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TST in relation to earlier this year.
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TheStreet, Inc. engages in the provision of financial news and information to investors and institutions worldwide. It operates through the following business segments: TheDeal/BoardEx, RateWatch, and Business to Consumer. The TheDeal/BoardEx segment are based of proprietary and commercial systems developed for consumption by institutional clients.
