Bankrate, Inc. (RATE) Position Reduced by Russell Investments Group Ltd.
Russell Investments Group Ltd. decreased its stake in shares of Bankrate, Inc. (NYSE:RATE) by 21.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,300 shares of the bank’s stock after selling 57,933 shares during the period. Russell Investments Group Ltd. owned approximately 0.24% of Bankrate worth $2,753,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Nationwide Fund Advisors raised its position in shares of Bankrate by 70.9% in the first quarter. Nationwide Fund Advisors now owns 111,870 shares of the bank’s stock valued at $1,080,000 after buying an additional 46,415 shares in the last quarter. Wedge Capital Management L L P NC raised 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. Eqis Capital Management Inc. acquired a new position in shares of Bankrate during the first quarter valued at about $181,000. American Century Companies Inc. raised its position 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 valued at $3,281,000 after buying an additional 286,197 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new position in shares of Bankrate during the first quarter valued at about $347,000. 47.24% of the stock is currently owned by institutional investors.
Shares of Bankrate, Inc. (RATE) traded up 0.181% on Thursday, hitting $13.875. The stock had a trading volume of 332,496 shares. Bankrate, Inc. has a 12-month low of $7.10 and a 12-month high of $14.25. The company’s market cap is $1.24 billion. The stock has a 50 day moving average price of $13.89 and a 200-day moving average price of $11.57.
Bankrate (NYSE:RATE) last issued its quarterly earnings results on Monday, August 7th. The bank reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The company had revenue of $115.90 million during the quarter, compared to analyst estimates of $117.60 million. Bankrate had a negative net margin of 4.61% and a positive return on equity of 6.50%. The business’s revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS. On average, equities analysts expect that Bankrate, Inc. will post $0.70 earnings per share for the current year.
RATE has been the topic of several recent analyst reports. ValuEngine lowered Bankrate from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised Bankrate from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Sidoti lowered Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 target price on the stock. in a research report on Monday, July 3rd. Needham & Company LLC lowered Bankrate from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Zacks Investment Research lowered Bankrate from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.71.
In other Bankrate news, CEO Christopher J. Speltz sold 12,300 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $11.95, for a total transaction of $146,985.00. Following the transaction, the chief executive officer now owns 279,733 shares in the company, valued at approximately $3,342,809.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Barnhart sold 9,712 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 295,222 shares in the company, valued at approximately $3,542,664. The disclosure for this sale can be found here. Insiders sold a total of 22,745 shares of company stock worth $273,021 in the last 90 days. 6.30% of the stock is currently owned by insiders.
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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