Bankrate, Inc. (NYSE:RATE) Stock Rating Lowered by Stephens
Bankrate, Inc. (NYSE:RATE) was downgraded by equities researchers at Stephens from an “overweight” rating to an “equal weight” rating in a research report issued on Friday, The Fly reports.
A number of other equities analysts have also issued reports on RATE. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of Bankrate in a research report on Saturday, March 11th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $13.00 target price (down from $14.00) on shares of Bankrate in a research report on Monday, March 13th. Zacks Investment Research lowered shares of Bankrate from a “hold” rating to a “sell” rating in a research report on Wednesday, March 15th. ValuEngine lowered shares of Bankrate from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Bankrate from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Bankrate presently has an average rating of “Hold” and a consensus price target of $12.07.
Bankrate (NYSE RATE) remained flat at $13.90 during midday trading on Friday. 1,606,826 shares of the company traded hands. The stock’s market cap is $1.23 billion. The stock has a 50 day moving average of $11.09 and a 200 day moving average of $10.76. Bankrate has a 12-month low of $6.91 and a 12-month high of $13.95.
Bankrate (NYSE:RATE) last issued its quarterly earnings data on Thursday, May 4th. The bank reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The firm had revenue of $118.70 million for the quarter, compared to analysts’ expectations of $116.18 million. Bankrate had a negative net margin of 8.64% and a positive return on equity of 6.66%. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. Analysts forecast that Bankrate will post $0.70 EPS for the current year.
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In related news, CFO Steven Barnhart sold 6,702 shares of the stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $10.25, for a total value of $68,695.50. Following the transaction, the chief financial officer now directly owns 311,336 shares in the company, valued at $3,191,194. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the chief executive officer now owns 279,733 shares in the company, valued at $3,342,809.35. The disclosure for this sale can be found here. Insiders have sold 41,947 shares of company stock worth $478,592 over the last quarter. 6.30% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. 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. Metropolitan Life Insurance Co. NY raised its position 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 valued at $341,000 after buying an additional 3,825 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of Bankrate by 141.9% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 108,179 shares of the bank’s stock valued at $1,043,000 after buying an additional 63,453 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in shares of Bankrate during the first quarter valued at $181,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Bankrate by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,154,149 shares of the bank’s stock valued at $34,855,000 after buying an additional 220,853 shares in the last quarter. Institutional investors and hedge funds own 49.27% 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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