Bankrate, Inc. (RATE) Downgraded to Buy at BidaskClub
BidaskClub downgraded shares of Bankrate, Inc. (NYSE:RATE) from a strong-buy rating to a buy rating in a research report released on Wednesday.
RATE has been the subject of several other reports. Needham & Company LLC lowered Bankrate from a buy rating to a hold rating in a research report on Wednesday, July 5th. Zacks Investment Research cut Bankrate from a hold rating to a sell rating in a research note on Wednesday, July 5th. ValuEngine cut Bankrate from a buy rating to a hold rating in a research note on Friday, June 2nd. Sidoti cut Bankrate from a buy rating to a neutral rating and set a $14.00 price objective on the stock. in a research note on Monday, July 3rd. Finally, Stephens cut Bankrate from an overweight rating to an equal weight rating and set a $14.00 price objective on the stock. in a research note on Friday, July 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Bankrate presently has an average rating of Hold and an average target price of $12.71.
Bankrate (RATE) opened at 13.85 on Wednesday. The stock’s market cap is $1.23 billion. Bankrate has a one year low of $7.10 and a one year high of $14.25. The stock’s 50 day moving average price is $13.89 and its 200 day moving average price is $11.57.
Bankrate (NYSE:RATE) last released its quarterly earnings results on Monday, August 7th. The bank reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by $0.01. Bankrate had a positive return on equity of 6.50% and a negative net margin of 4.61%. The firm had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $117.60 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. Equities analysts predict that Bankrate will post $0.70 earnings per share for the current fiscal year.
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In other Bankrate news, CEO Christopher J. Speltz sold 12,300 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $11.95, for a total value of $146,985.00. Following the sale, the chief executive officer now directly owns 279,733 shares in the company, valued at $3,342,809.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven Barnhart sold 9,712 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 295,222 shares in the company, valued at $3,542,664. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,745 shares of company stock worth $273,021. Insiders own 6.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Paloma Partners Management Co acquired a new stake in Bankrate during the first quarter worth $129,000. Global X Management Co. LLC boosted its stake in Bankrate by 279.2% in the second quarter. Global X Management Co. LLC now owns 14,480 shares of the bank’s stock worth $186,000 after buying an additional 10,661 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Bankrate during the first quarter worth $156,000. Eqis Capital Management Inc. acquired a new stake in Bankrate during the first quarter worth $181,000. Finally, Wedge Capital Management L L P NC boosted its stake in 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 worth $182,000 after buying an additional 300 shares in the last quarter. Institutional investors own 47.24% of the company’s stock.
Bankrate Company 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.
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