Bankrate, Inc. (NYSE:RATE) Issues Earnings Results
Bankrate, Inc. (NYSE:RATE) announced its earnings results on Monday. The bank reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by $0.01, Bloomberg Earnings reports. The business had revenue of $115.90 million during the quarter, compared to the consensus estimate of $117.60 million. Bankrate had a positive return on equity of 6.66% and a negative net margin of 8.64%. 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 earnings per share.
Bankrate (RATE) traded down 0.36% during trading on Monday, hitting $13.85. The stock had a trading volume of 1,188,639 shares. The company has a 50-day moving average of $13.09 and a 200 day moving average of $11.22. The firm’s market cap is $1.23 billion. Bankrate has a 52-week low of $6.91 and a 52-week high of $14.25.
A number of equities analysts have weighed in on RATE shares. Zacks Investment Research upgraded Bankrate from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. ValuEngine lowered Bankrate from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded Bankrate from a “hold” rating to a “buy” rating in a research note 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 note on Monday, July 3rd. Finally, Needham & Company LLC lowered Bankrate from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Bankrate has a consensus rating of “Hold” and an average price target of $12.31.
In other news, CEO Christopher J. Speltz sold 12,300 shares of Bankrate stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $11.95, for a total value of $146,985.00. Following the sale, the chief executive officer now directly owns 279,733 shares of the company’s stock, valued at $3,342,809.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Barnhart sold 9,712 shares of Bankrate stock in a transaction dated 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 sale, the chief financial officer now directly owns 295,222 shares in the company, valued at $3,542,664. The disclosure for this sale can be found here. Insiders sold 22,745 shares of company stock worth $273,021 over the last ninety days. Insiders own 6.30% of the company’s stock.
Large investors have recently modified their holdings of the company. Wedge Capital Management L L P NC boosted its stake 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 during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Bankrate by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 195,875 shares of the bank’s stock valued at $2,517,000 after buying an additional 1,197 shares during the period. American International Group Inc. boosted its stake in shares of Bankrate by 7.1% in the first quarter. American International Group Inc. now owns 29,199 shares of the bank’s stock valued at $282,000 after buying an additional 1,928 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Bankrate by 2.1% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 128,945 shares of the bank’s stock valued at $1,244,000 after buying an additional 2,680 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Bankrate by 4.7% in the first quarter. Parametric Portfolio Associates LLC now owns 74,023 shares of the bank’s stock valued at $714,000 after buying an additional 3,331 shares during the period. 48.85% of the stock is currently owned by hedge funds and other institutional investors.
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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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