Goldman Sachs Group Inc. Reduces Stake in Bankrate, Inc. (RATE)

Goldman Sachs Group Inc. decreased its stake in shares of Bankrate, Inc. (NYSE:RATE) by 37.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 39,595 shares of the bank’s stock after selling 23,903 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Bankrate were worth $509,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of RATE. Paloma Partners Management Co bought a new position in shares of Bankrate during the 1st quarter worth about $129,000. Global X Management Co. LLC boosted its position in shares of Bankrate by 279.2% during the 2nd quarter. Global X Management Co. LLC now owns 14,480 shares of the bank’s stock valued at $186,000 after acquiring an additional 10,661 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Bankrate by 3.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 16,615 shares of the bank’s stock valued at $214,000 after acquiring an additional 477 shares in the last quarter. American International Group Inc. boosted its position in shares of Bankrate by 7.1% during the 1st quarter. American International Group Inc. now owns 29,199 shares of the bank’s stock valued at $282,000 after acquiring an additional 1,928 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in shares of Bankrate by 15.2% during the 2nd quarter. Voya Investment Management LLC now owns 23,837 shares of the bank’s stock valued at $306,000 after acquiring an additional 3,145 shares in the last quarter. Institutional investors own 47.31% of the company’s stock.

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Separately, BidaskClub lowered shares of Bankrate from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.00.

Shares of Bankrate, Inc. (NYSE:RATE) opened at $14.00 on Monday. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.44. Bankrate, Inc. has a 12-month low of $8.55 and a 12-month high of $14.25. The firm has a market cap of $1,260.00, a PE ratio of 28.00 and a beta of 1.64.

Bankrate Profile

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.

Institutional Ownership by Quarter for Bankrate (NYSE:RATE)

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