AQR Capital Management LLC Sells 158,780 Shares of Bankrate, Inc. (NYSE:RATE)
AQR Capital Management LLC cut its position in shares of Bankrate, Inc. (NYSE:RATE) by 35.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 288,321 shares of the bank’s stock after selling 158,780 shares during the period. AQR Capital Management LLC owned approximately 0.33% of Bankrate worth $2,782,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. American Century Companies Inc. increased its stake in shares of Bankrate by 531.7% in the first quarter. American Century Companies Inc. now owns 340,025 shares of the bank’s stock worth $3,281,000 after buying an additional 286,197 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Bankrate by 14.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 30,821 shares of the bank’s stock worth $341,000 after buying an additional 3,825 shares during the period. Cornerstone Capital Management Holdings LLC. increased its position in Bankrate by 141.9% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 108,179 shares of the bank’s stock worth $1,043,000 after buying an additional 63,453 shares during the last quarter. Eqis Capital Management Inc. acquired a new position in Bankrate during the first quarter worth approximately $181,000. Finally, Dimensional Fund Advisors LP increased its position in Bankrate by 14.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,601,679 shares of the bank’s stock worth $34,757,000 after buying an additional 447,530 shares during the last quarter. 49.19% of the stock is owned by hedge funds and other institutional investors.
Bankrate, Inc. (RATE) remained flat at $13.90 during midday trading on Friday. 285,247 shares of the stock were exchanged. The stock’s 50-day moving average is $13.87 and its 200-day moving average is $11.46. The firm’s market cap is $1.24 billion. Bankrate, Inc. has a 52 week low of $7.10 and a 52 week high of $14.25.
Bankrate (NYSE:RATE) last posted its earnings results on Monday, August 7th. The bank reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $115.90 million during the quarter, compared to the consensus estimate of $117.60 million. Bankrate had a positive return on equity of 6.50% and a negative net margin of 4.61%. The firm’s revenue was up 17.9% compared to the same quarter last year. During the same period last year, the company posted $0.01 EPS. On average, equities analysts predict that Bankrate, Inc. will post $0.70 EPS for the current year.
A number of equities analysts have recently commented on RATE shares. BidaskClub raised shares of Bankrate from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Zacks Investment Research downgraded shares of Bankrate from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Stephens downgraded shares of Bankrate from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective for the company. in a report on Friday, July 7th. Sidoti downgraded shares of Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price objective for the company. in a report on Monday, July 3rd. Finally, ValuEngine downgraded shares of Bankrate from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Bankrate currently has an average rating of “Hold” and a consensus price target of $12.71.
In related news, CFO Steven Barnhart sold 9,712 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were 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 owns 295,222 shares in the company, valued at approximately $3,542,664. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Christopher J. Speltz sold 12,300 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $11.95, for a total transaction of $146,985.00. Following the sale, the chief executive officer now directly owns 279,733 shares of the company’s stock, valued at approximately $3,342,809.35. The disclosure for this sale can be found here. Insiders sold 22,745 shares of company stock valued at $273,021 in the last three months. Company insiders own 6.30% of the company’s stock.
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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