BidaskClub upgraded shares of Bankrate, Inc. (NYSE:RATE) from a buy rating to a strong-buy rating in a report issued on Wednesday, June 28th.
Several other brokerages also recently commented on RATE. ValuEngine downgraded Bankrate from a buy rating to a hold rating in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. reiterated an outperform rating and set a $13.00 target price (down from $14.00) on shares of Bankrate in a research note on Monday, March 13th. Needham & Company LLC reiterated a buy rating and set a $15.00 target price on shares of Bankrate in a research note on Saturday, March 11th. Finally, Zacks Investment Research downgraded Bankrate from a hold rating to a sell rating in a research note on Wednesday, March 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $12.31.
Shares of Bankrate (NYSE RATE) traded down 0.36% during midday trading on Wednesday, reaching $13.85. The company’s stock had a trading volume of 333,035 shares. The firm’s market cap is $1.23 billion. Bankrate has a 12 month low of $6.91 and a 12 month high of $14.25. The company has a 50-day moving average price of $12.92 and a 200-day moving average price of $11.18.
Bankrate (NYSE:RATE) last posted its quarterly earnings results on Thursday, May 4th. The bank reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The firm had revenue of $118.70 million for the quarter, compared to analyst estimates of $116.18 million. Bankrate had a positive return on equity of 6.66% and a negative net margin of 8.64%. The business’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS. Equities analysts expect that Bankrate will post $0.70 earnings per share for the current year.
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In other Bankrate news, CFO Steven Barnhart sold 9,712 shares of Bankrate stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $12.00, for a total value of $116,544.00. Following the completion of the transaction, the chief financial officer now directly owns 295,222 shares of the company’s stock, valued at approximately $3,542,664. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher J. Speltz sold 12,300 shares of Bankrate stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $11.95, for a total value of $146,985.00. Following the completion of the transaction, the chief executive officer now directly owns 279,733 shares of the company’s stock, valued at $3,342,809.35. The disclosure for this sale can be found here. Insiders sold a total of 22,745 shares of company stock valued at $273,021 over the last 90 days. 6.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Paloma Partners Management Co bought a new position in shares of Bankrate during the first quarter valued at $129,000. Oppenheimer & Co. Inc. bought a new position in shares of Bankrate during the first quarter valued at $156,000. Eqis Capital Management Inc. bought a new position in shares of Bankrate during the first quarter valued at $181,000. Wedge Capital Management L L P NC boosted its position in shares of Bankrate by 1.6% in the first quarter. Wedge Capital Management L L P NC now owns 18,840 shares of the bank’s stock valued at $182,000 after buying an additional 300 shares in the last quarter. Finally, Ellington Management Group LLC bought a new position in shares of Bankrate during the fourth quarter valued at $204,000. 49.14% of the stock is owned by hedge funds and other institutional investors.
Bankrate, Inc is a publisher, aggregator and distributor of personal finance content on the Internet. The Company provides consumers personal finance editorial content across multiple vertical categories, including mortgages, deposits, credit cards, senior care and other personal finance categories. The Company’s segments include Banking, Credit Cards, Senior Care and Other.
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