Bankrate, Inc. (RATE) Stake Held by Swiss National Bank
Swiss National Bank continued to hold its stake in Bankrate, Inc. (NYSE:RATE) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,200 shares of the bank’s stock at the close of the 2nd quarter. Swiss National Bank owned about 0.10% of Bankrate worth $1,121,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Oaktop Capital Management II L.P. purchased a new position in shares of Bankrate during the 2nd quarter valued at about $14,501,000. Dimensional Fund Advisors LP raised its stake in shares of Bankrate by 14.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,601,679 shares of the bank’s stock valued at $34,757,000 after buying an additional 447,530 shares during the last quarter. Citadel Advisors LLC raised its stake in shares of Bankrate by 800.1% during the 1st quarter. Citadel Advisors LLC now owns 402,426 shares of the bank’s stock valued at $3,884,000 after buying an additional 357,716 shares during the last quarter. ING Groep NV purchased a new position in shares of Bankrate during the 2nd quarter valued at about $4,112,000. Finally, Unterberg Capital LLC purchased a new position in shares of Bankrate during the 2nd quarter valued at about $3,213,000. 47.22% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the company. BidaskClub lowered Bankrate from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Stephens lowered Bankrate from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective for the company. in a research note on Friday, July 7th. Zacks Investment Research lowered Bankrate from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Needham & Company LLC lowered Bankrate from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Sidoti lowered Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price objective for the company. in a research note on Monday, July 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Bankrate currently has an average rating of “Hold” and a consensus price target of $13.33.
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Bankrate, Inc. (RATE) opened at 13.95 on Monday. The company has a 50 day moving average price of $13.90 and a 200 day moving average price of $12.39. Bankrate, Inc. has a 52 week low of $7.10 and a 52 week high of $14.25. The stock’s market cap is $1.24 billion.
Bankrate (NYSE:RATE) last issued its earnings results on Monday, August 7th. The bank reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.01). Bankrate had a negative net margin of 4.61% and a positive return on equity of 6.50%. The company had revenue of $115.90 million during the quarter, compared to analysts’ expectations of $117.60 million. During the same period last year, the business posted $0.01 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. Analysts expect that Bankrate, Inc. will post $0.70 EPS for the current fiscal year.
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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