Bankrate, Inc. (NYSE:RATE) was downgraded by equities researchers at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued on Wednesday, MarketBeat reports.

RATE has been the subject of several other reports. Zacks Investment Research downgraded shares of Bankrate from a “hold” rating to a “sell” rating in a research note on Wednesday, March 15th. ValuEngine downgraded shares of Bankrate from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $13.00 target price (down from $14.00) on shares of Bankrate in a research note on Monday, March 13th. BidaskClub upgraded shares of Bankrate from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Sidoti downgraded shares of Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 target price for the company. in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.31.

Bankrate (NYSE RATE) remained flat at $13.90 during mid-day trading on Wednesday. 1,606,826 shares of the stock were exchanged. The company’s market capitalization is $1.23 billion. The company’s 50-day moving average is $11.09 and its 200-day moving average is $10.76. Bankrate has a one year low of $6.91 and a one year high of $14.25.

Bankrate (NYSE:RATE) last released its quarterly earnings data on Thursday, May 4th. The bank reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. Bankrate had a negative net margin of 8.64% and a positive return on equity of 6.66%. The company had revenue of $118.70 million during the quarter, compared to the consensus estimate of $116.18 million. During the same period in the previous year, the firm earned $0.12 earnings per share. Bankrate’s revenue for the quarter was up 27.2% on a year-over-year basis. Equities analysts forecast that Bankrate will post $0.70 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This piece was published by American Banking News and is the property of of American Banking News. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/09/bankrate-inc-nyserate-downgraded-by-needham-company-llc.html.

In other Bankrate news, CFO Steven Barnhart sold 6,702 shares of the stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $10.25, for a total transaction of $68,695.50. Following the transaction, the chief financial officer now directly owns 311,336 shares in the company, valued at approximately $3,191,194. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher J. Speltz sold 12,300 shares of the stock in a transaction 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 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 sold 41,947 shares of company stock valued at $478,592 over the last 90 days. Insiders own 6.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its position in Bankrate by 531.7% in the first quarter. American Century Companies Inc. now owns 340,025 shares of the bank’s stock worth $3,281,000 after buying an additional 286,197 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Bankrate by 14.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 30,821 shares of the bank’s stock worth $341,000 after buying an additional 3,825 shares during the period. Cornerstone Capital Management Holdings LLC. increased its position in Bankrate by 141.9% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 108,179 shares of the bank’s stock worth $1,043,000 after buying an additional 63,453 shares during the period. Eqis Capital Management Inc. bought a new position in Bankrate during the first quarter worth approximately $181,000. Finally, Dimensional Fund Advisors LP increased its position in Bankrate by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,154,149 shares of the bank’s stock worth $34,855,000 after buying an additional 220,853 shares during the period. Hedge funds and other institutional investors own 49.27% of the company’s stock.

About Bankrate

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.

Analyst Recommendations for Bankrate (NYSE:RATE)

Receive News & Ratings for Bankrate Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bankrate Inc. and related companies with MarketBeat.com's FREE daily email newsletter.