Bankrate, Inc. (RATE) Short Interest Update
Bankrate, Inc. (NYSE:RATE) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 1,049,743 shares, an increase of 59.2% from the July 14th total of 659,464 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 1,064,646 shares, the short-interest ratio is presently 1.0 days.
Shares of Bankrate (NYSE RATE) opened at 13.90 on Wednesday. The firm’s market capitalization is $1.24 billion. Bankrate has a 12 month low of $7.10 and a 12 month high of $14.25. The stock’s 50 day moving average price is $13.74 and its 200-day moving average price is $11.40.
Bankrate (NYSE:RATE) last released its quarterly earnings data on Monday, August 7th. The bank reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $115.90 million for the quarter, compared to analyst estimates of $117.60 million. Bankrate had a negative net margin of 4.61% and a positive return on equity of 6.50%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. On average, equities analysts anticipate that Bankrate will post $0.70 earnings per share for the current fiscal year.
In other Bankrate news, CFO Steven Barnhart sold 9,712 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $12.00, for a total transaction of $116,544.00. Following the transaction, the chief financial officer now owns 295,222 shares of the company’s stock, valued at approximately $3,542,664. The transaction was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $11.95, for a total value of $146,985.00. Following the transaction, the chief executive officer now directly owns 279,733 shares in the company, valued at approximately $3,342,809.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,745 shares of company stock worth $273,021. 6.30% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in RATE. Dimensional Fund Advisors LP increased its stake in Bankrate by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,931,727 shares of the bank’s stock worth $50,522,000 after buying an additional 330,048 shares during the last quarter. Elk Creek Partners LLC increased its stake in Bankrate by 7.1% in the first quarter. Elk Creek Partners LLC now owns 1,695,563 shares of the bank’s stock worth $16,362,000 after buying an additional 111,699 shares during the last quarter. Renaissance Technologies LLC increased its stake in Bankrate by 6.9% in the first quarter. Renaissance Technologies LLC now owns 1,403,000 shares of the bank’s stock worth $13,539,000 after buying an additional 91,042 shares during the last quarter. Oaktop Capital Management II L.P. bought a new stake in Bankrate during the second quarter worth $14,501,000. Finally, Thrivent Financial For Lutherans increased its stake in Bankrate by 905.3% in the second quarter. Thrivent Financial For Lutherans now owns 1,014,059 shares of the bank’s stock worth $13,031,000 after buying an additional 913,189 shares during the last quarter. 49.19% of the stock is currently owned by institutional investors.
A number of research analysts have commented on RATE shares. BidaskClub raised Bankrate from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Stephens downgraded Bankrate from an “overweight” rating to an “equal weight” rating and set a $14.00 target price on the stock. in a report on Friday, July 7th. Zacks Investment Research downgraded Bankrate from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Sidoti downgraded Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 target price on the stock. in a report on Monday, July 3rd. Finally, Needham & Company LLC downgraded Bankrate from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. 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. Bankrate has a consensus rating of “Hold” and a consensus target price of $12.71.
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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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