First Trust Advisors LP Takes Position in Bankrate Inc. (RATE)
First Trust Advisors LP acquired a new stake in Bankrate Inc. (NYSE:RATE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 36,557 shares of the company’s stock, valued at approximately $273,000.
Other hedge funds have also recently made changes to their positions in the company. Pacad Investment Ltd. bought a new stake in shares of Bankrate during the first quarter valued at approximately $126,000. AXA bought a new stake in shares of Bankrate during the first quarter valued at approximately $212,000. Boothbay Fund Management LLC acquired a new position in shares of Bankrate during the first quarter valued at about $282,000. Rothschild Asset Management Inc. acquired a new position in shares of Bankrate during the second quarter valued at about $285,000. Finally, Fox Run Management L.L.C. increased 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 last quarter. 47.64% of the stock is currently owned by institutional investors.
Shares of Bankrate Inc. (NYSE:RATE) traded up 1.30% during midday trading on Monday, hitting $7.80. The company had a trading volume of 56,231 shares. Bankrate Inc. has a one year low of $6.59 and a one year high of $15.80. The stock’s market capitalization is $693.95 million. The stock’s 50-day moving average price is $8.02 and its 200-day moving average price is $8.32.
Bankrate (NYSE:RATE) last issued its earnings results on Thursday, August 4th. The company reported $0.11 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.11. The firm had revenue of $98.30 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. Analysts predict that Bankrate Inc. will post $0.54 EPS for the current year.
Several equities analysts have issued reports on the company. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $9.00 price objective on shares of Bankrate in a research report on Tuesday, September 27th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of Bankrate in a research report on Tuesday, September 13th. Zacks Investment Research downgraded Bankrate from a “buy” rating to a “hold” rating in a research report on Tuesday, August 23rd. Finally, Loop Capital assumed coverage on Bankrate in a research report on Wednesday, August 10th. They issued a “hold” rating and a $9.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target 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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