California Public Employees Retirement System cut its position in shares of Bankrate, Inc. (NYSE:RATE) by 4.0% during the first quarter, Holdings Channel reports. The firm owned 140,300 shares of the bank’s stock after selling 5,900 shares during the period. California Public Employees Retirement System’s holdings in Bankrate were worth $1,354,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RATE. American Century Companies Inc. boosted its position in Bankrate by 531.7% in the first quarter. American Century Companies Inc. now owns 340,025 shares of the bank’s stock worth $3,281,000 after buying an additional 286,197 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Bankrate by 14.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 30,821 shares of the bank’s stock worth $341,000 after buying an additional 3,825 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its position in Bankrate by 141.9% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 108,179 shares of the bank’s stock worth $1,043,000 after buying an additional 63,453 shares during the period. Eqis Capital Management Inc. purchased a new position in Bankrate during the first quarter worth about $181,000. Finally, State Street Corp boosted its position in Bankrate by 15.7% in the fourth quarter. State Street Corp now owns 1,127,884 shares of the bank’s stock worth $12,466,000 after buying an additional 153,314 shares during the period. Institutional investors own 48.85% of the company’s stock.

Shares of Bankrate, Inc. (NYSE RATE) opened at 13.90 on Monday. The company has a 50 day moving average of $13.09 and a 200-day moving average of $11.22. Bankrate, Inc. has a one year low of $6.91 and a one year high of $14.25. The firm’s market cap is $1.23 billion.

Bankrate (NYSE:RATE) last issued its quarterly earnings data on Thursday, May 4th. The bank reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The business had revenue of $118.70 million during the quarter, compared to the consensus estimate of $116.18 million. Bankrate had a negative net margin of 8.64% and a positive return on equity of 6.66%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS. On average, analysts expect that Bankrate, Inc. will post $0.70 EPS for the current year.

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A number of analysts recently weighed in on the stock. Needham & Company LLC lowered shares of Bankrate from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub raised shares of Bankrate from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Zacks Investment Research lowered shares of Bankrate from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. ValuEngine lowered shares of Bankrate from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Sidoti lowered shares of Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price target for the company. in a report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.31.

In related news, CEO Christopher J. Speltz sold 12,300 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $11.95, for a total value of $146,985.00. Following the completion of the transaction, the chief executive officer now owns 279,733 shares of the company’s stock, valued at approximately $3,342,809.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Steven Barnhart sold 9,712 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $12.00, for a total transaction of $116,544.00. Following the completion of the transaction, the chief financial officer now directly owns 295,222 shares of the company’s stock, valued at approximately $3,542,664. The disclosure for this sale can be found here. In the last three months, insiders sold 22,745 shares of company stock valued at $273,021. 6.30% of the stock is owned by insiders.

About Bankrate

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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Institutional Ownership by Quarter for Bankrate (NYSE:RATE)

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