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TST

TheStreet

$2.50

0.145 (6.16%)

08:19
04/04/19
04/04
08:19
04/04/19
08:19

TheStreet declares $1.77 per share distribution, 1-for-10 reverse stock split

TheStreet announced that its board has declared a special cash distribution in the amount of approximately $94.3M or $1.77 per share. In connection with the distribution, the board has approved a 1-for-10 reverse stock split of TheStreet's common stock. The special distribution consists of the net proceeds from the sale of the company's B2B business to Euromoney and a portion of current cash on hand. The company estimates that its cash on hand immediately following the distribution and after payment of expenses and certain deal-related costs, and excluding amounts currently held in escrow, will be approximately $18.5M-$21.5M in the aggregate. The distribution will be payable on April 22 to stockholders of record on April 15. The company expects Nasdaq to set the ex-dividend date as April 23. Stockholders who sell their shares after the record date and prior to the ex-dividend date will also be selling their right to receive the special cash distribution. The company also announced that the board approved a change in the company's fiscal and tax year, which effective April 1, shall end on March 31 of each year, and a plan of partial liquidation with respect to its B2B operations. As a result, a portion of the distribution will be treated as a partial liquidation for federal income tax purposes with the remaining portion treated as a non-dividend distribution for U.S. tax purposes. The 1-for-10 reverse stock split will be effective with the opening of trading on April 26 and the company's common stock is expected to trade on Nasdaq on a split-adjusted basis at such time. As a result of the reverse stock split, the total number of shares of common stock held by each stockholder will be converted automatically into the number of whole shares of common stock equal to the number of shares of common stock held by such stockholder immediately prior to the reverse stock split, divided by 10. The reverse stock split will reduce the number of shares of common stock outstanding from approximately 53.3M to approximately 5.3M. The number of authorized shares of common stock under the company's restated certificate of Incorporation will also be proportionately reduced from 100M shares to 10M shares.

TST TheStreet
$2.50

0.145 (6.16%)

06/20/18
LSCM
06/20/18
NO CHANGE
Target $3
LSCM
Buy
TheStreet's sale of RateWatch a 'significant positive,' says Lake Street
Lake Street analyst Mark Argento views TheStreet's (TST) sale of its RateWatch business to S&P Global (SPGI) for $33.5M in cash as a "significant positive." The sale refocuses TheStreet's operating portfolio on premium subscription products, while providing a "significant capital infusion," Argento tells investors in a research note. He points out the company's cash position is now 90c per share, or greater than 50% of its market capitalization. The analyst sees TheStreet putting the cash to work in higher return on investment areas, including its "largely untapped" 5M share buyback program put in place last November. Argento reiterates a Buy rating on TheStreet with a $3 price target. The stock in afternoon trading is up 11%, or 20c, to $1.96.
08/13/18
SPHN
08/13/18
NO CHANGE
Target $11
SPHN
Equal Weight
Zoe's Kitchen 'not immune' to weakness across industry, says Stephens
Stephens analyst Will Slabaugh maintained an Equal Weight rating and $11 price target on Zoe's Kitchen (ZOES) ahead of the company's earnings report on Thursday afternoon, telling investors in a research note that another top-line miss in Q1 and lowered guidance showed that the company is not immune to the general weakness across the industry or within the increasingly competitive fast casual marketplace. While he is optimistic around possible benefits from digital, off-premise and menu innovation, the analyst is concerned that competitive challenges in the fast casual dining sector will weigh on the company's top- and bottom-line int he near-term. The analyst says Restaurant Brands (QSR), Carrols (TST) and Wendy's (WEN) remain his favorite names in quick-service and BJ's Restaurants (BJRI) among casuals.
11/15/18
LSCM
11/15/18
NO CHANGE
Target $3
LSCM
Buy
TheStreet deferred revenue accelerated in Q3, says Lake Street
Lake Street analyst Mark Argento says TheStreet posted "solid" Q3 results as deferred revenue started to accelerate. Strength in business-to-business, specifically BoardEx, along with premium business-to-consumer subscribers continued to drive increased deferred subscription revenue, Argento tells investors in a post-earnings research note. The analyst reiterates a Buy rating on the shares with a $3 price target.
12/06/18
RILY
12/06/18
NO CHANGE
Target $3
RILY
Buy
TheStreet trading below net cash after asset sale, says B. Riley FBR
TheStreet shares are trading below net cash following the sale of its institutional business units for $87.3M, B. Riley FBR analyst Kara Anderson tells investors in a research note. She reiterates a Buy rating on the name with a $3.00 price target.

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V

Visa

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TISA

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FCPT

Four Corners Property Trust

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