JPMorgan Chase & Co. Reaffirms Hold Rating for Bankrate Inc. (RATE)
JPMorgan Chase & Co. reaffirmed their hold rating on shares of Bankrate Inc. (NYSE:RATE) in a research report report published on Tuesday. JPMorgan Chase & Co. currently has a $9.00 price target on the stock.
A number of other equities analysts have also weighed in on the company. Needham & Company LLC reiterated a buy rating and set a $15.00 price objective on shares of Bankrate in a research note on Tuesday, September 13th. Zacks Investment Research lowered Bankrate from a buy rating to a hold rating in a research note on Tuesday, August 23rd. Loop Capital initiated coverage on Bankrate in a research note on Wednesday, August 10th. They issued a hold rating and a $9.00 price target for the company. Finally, Compass Point initiated coverage on Bankrate in a research note on Thursday, June 2nd. They issued a neutral rating and a $9.00 price target for the company. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Bankrate has a consensus rating of Hold and an average target price of $11.85.
Bankrate (NYSE:RATE) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.11 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.11. The business earned $98.30 million during the quarter, compared to analyst estimates of $96.08 million. Bankrate had a positive return on equity of 7.93% and a negative net margin of 13.93%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS.
Hedge funds and other institutional investors have recently modified their holdings of the company. Elk Creek Partners LLC boosted its position in shares of Bankrate by 35.8% in the second quarter. Elk Creek Partners LLC now owns 1,218,460 shares of the company’s stock valued at $9,114,000 after buying an additional 321,145 shares in the last quarter. Numeric Investors LLC bought a new position in shares of Bankrate during the second quarter valued at $1,166,000. AHL Partners LLP bought a new position in shares of Bankrate during the second quarter valued at $156,000. Highbridge Capital Management LLC bought a new position in shares of Bankrate during the second quarter valued at $1,010,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Bankrate by 239.7% in the second quarter. Cubist Systematic Strategies LLC now owns 42,020 shares of the company’s stock valued at $314,000 after buying an additional 29,652 shares in the last quarter. Institutional investors and hedge funds own 47.63% of the company’s stock.
Bankrate Company Profile
Bankrate, Inc (Bankrate) 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.
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