Prudential Financial Inc. Has $8.71 Million Holdings in Bankrate, Inc. (RATE)
Prudential Financial Inc. decreased its position in shares of Bankrate, Inc. (NYSE:RATE) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 677,425 shares of the bank’s stock after selling 31,370 shares during the quarter. Prudential Financial Inc. owned about 0.76% of Bankrate worth $8,705,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Paloma Partners Management Co acquired a new stake in shares of Bankrate during the 1st quarter worth approximately $129,000. Global X Management Co. LLC grew 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 worth $186,000 after buying an additional 10,661 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Bankrate during the 1st quarter worth approximately $156,000. Eqis Capital Management Inc. acquired a new stake in shares of Bankrate during the 1st quarter worth approximately $181,000. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in shares of Bankrate during the 1st quarter worth approximately $220,000. Hedge funds and other institutional investors own 47.24% of the company’s stock.
Shares of Bankrate, Inc. (RATE) opened at 13.85 on Thursday. The firm’s market cap is $1.23 billion. Bankrate, Inc. has a 52-week low of $7.10 and a 52-week high of $14.25. The company has a 50-day moving average of $13.87 and a 200 day moving average of $11.78.
Bankrate (NYSE:RATE) last announced 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 business had revenue of $115.90 million for the quarter, compared to the consensus estimate of $117.60 million. Bankrate had a negative net margin of 4.61% and a positive return on equity of 6.50%. Bankrate’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 EPS. On average, equities analysts expect that Bankrate, Inc. will post $0.70 earnings per share for the current year.
In other Bankrate news, CEO Christopher J. Speltz sold 12,300 shares of the 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 completion of the transaction, the chief executive officer now owns 279,733 shares in the company, valued at $3,342,809.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven Barnhart sold 9,712 shares of the 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 owns 295,222 shares of the company’s stock, valued at approximately $3,542,664. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,745 shares of company stock valued at $273,021. 6.30% of the stock is owned by corporate insiders.
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Several analysts have recently commented on the stock. BidaskClub downgraded shares of Bankrate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 30th. 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 research report on Friday, July 7th. Zacks Investment Research downgraded shares of Bankrate from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Needham & Company LLC downgraded shares of Bankrate from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, 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 research report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $12.71.
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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