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Raging Capital Isn’t A Bull of Thestreet Inc. (TST) Anymore?

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We just talked about underrated activist hedge funds in our Sessa Capital article. There is only one activist hedge fund that followed Sessa Capital into Ashford Hospitality Prime (AHP) and that’s Raging Capital. Sessa Capital returned more than 30% last year and Raging Capital returned 27%. Most hedge funds didn’t even return half of these numbers. Yet, investors really don’t care much about following these two hedge funds’ moves.

Today, we are going to report on Raging Capital‘s recent move. William Martin knows a thing or two about managing a financial website which is why he probably purchased a large stake in Thestreet Inc. (NASDAQ:TST) last year. By the way, Thestreet Inc. (NASDAQ:TST) is Insider Monkey’s competitor, but you don’t really need to know much about managing a financial news website to figure out that TST isn’t managed very well and that’s probably because it is in a very competitive industry.

William Martin Raging Capital Management

Anyway, TST shares haven’t been doing very well and Raging Capital has been cutting its stake in recent weeks. The details of its recent sales can be seen below:

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Raging Capital Management 1,840,440 1,840,440 1,840,440 5.2%
William C. Martin 1,840,440 1,840,440 1,840,440 5.2%
William C. Martin
William C. Martin
Raging Capital Management

Page 1 of 6 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. 3)1
TheStreet, Inc
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
88368Q 10 3
(CUSIP Number)
STEVE WOLOSKY, ESQ.
OLSHAN FROME WOLOSKY LLP
1325 Avenue of the Americas
New York, New York 10019
(212) 451-2300

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)
February 15, 2017
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box x.
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.
_______________
1              The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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