Swiss National Bank Decreases Position in Bankrate Inc. (RATE)
Swiss National Bank reduced its stake in shares of Bankrate Inc. (NYSE:RATE) by 7.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 92,400 shares of the company’s stock after selling 7,000 shares during the period. Swiss National Bank owned 0.10% of Bankrate worth $691,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the stock. Legal & General Group Plc raised its position in shares of Bankrate by 6.3% in the first quarter. Legal & General Group Plc now owns 14,966 shares of the company’s stock valued at $137,000 after buying an additional 892 shares during the period. Pacad Investment Ltd. acquired a new position in shares of Bankrate during the first quarter valued at about $126,000. AXA acquired a new position in shares of Bankrate during the first quarter valued at about $212,000. Fox Run Management L.L.C. raised its position in shares of Bankrate by 208.0% in the second quarter. Fox Run Management L.L.C. now owns 42,200 shares of the company’s stock valued at $316,000 after buying an additional 28,500 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in shares of Bankrate during the first quarter valued at about $282,000. Hedge funds and other institutional investors own 47.63% of the company’s stock.
Shares of Bankrate Inc. (NYSE:RATE) traded down 3.09% on Tuesday, reaching $7.85. 126,695 shares of the company’s stock were exchanged. The stock’s market cap is $698.40 million. The company’s 50 day moving average price is $8.02 and its 200-day moving average price is $8.34. Bankrate Inc. has a 52-week low of $6.59 and a 52-week high of $15.80.
Bankrate (NYSE:RATE) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.11. Bankrate had a positive return on equity of 7.93% and a negative net margin of 13.93%. The company earned $98.30 million during the quarter, compared to the consensus estimate of $96.08 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Equities analysts forecast that Bankrate Inc. will post $0.54 EPS for the current fiscal year.
Several research firms recently weighed in on RATE. JPMorgan Chase & Co. reissued a “hold” rating and set a $9.00 price objective on shares of Bankrate in a research note on Tuesday, September 27th. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Bankrate in a research note on Tuesday, July 19th. Zacks Investment Research lowered shares of Bankrate from a “buy” rating to a “hold” rating in a research note on Tuesday, August 23rd. Finally, Loop Capital began coverage on shares of Bankrate in a research note on Wednesday, August 10th. They set a “hold” rating and a $9.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $11.85.
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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