Nuveen Asset Management LLC purchased a new stake in Bankrate, Inc. (NYSE:RATE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 38,179 shares of the bank’s stock, valued at approximately $368,000.
Other large investors have also modified their holdings of the company. Gargoyle Investment Advisor L.L.C. increased its stake in Bankrate by 94.5% in the first quarter. Gargoyle Investment Advisor L.L.C. now owns 31,893 shares of the bank’s stock worth $308,000 after buying an additional 15,496 shares during the period. Capital Fund Management S.A. purchased a new stake in Bankrate during the first quarter worth approximately $347,000. American Century Companies Inc. increased its stake 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. Eqis Capital Management Inc. purchased a new stake in Bankrate during the first quarter worth approximately $181,000. Finally, Wedge Capital Management L L P NC increased its position in shares of Bankrate by 1.6% in the first quarter. Wedge Capital Management L L P NC now owns 18,840 shares of the bank’s stock worth $182,000 after buying an additional 300 shares during the last quarter. 49.19% of the stock is owned by institutional investors and hedge funds.
Shares of Bankrate, Inc. (NYSE:RATE) opened at 13.90 on Friday. The stock’s market capitalization is $1.24 billion. The stock has a 50 day moving average price of $13.87 and a 200-day moving average price of $11.46. Bankrate, Inc. has a 52-week low of $7.10 and a 52-week high of $14.25.
Bankrate (NYSE:RATE) last released its quarterly earnings results on Monday, August 7th. The bank reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.01. The company had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $117.60 million. Bankrate had a positive return on equity of 6.50% and a negative net margin of 4.61%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. On average, equities research analysts anticipate that Bankrate, Inc. will post $0.70 EPS for the current fiscal year.
A number of research analysts have issued reports on the company. ValuEngine downgraded Bankrate from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Needham & Company LLC downgraded Bankrate from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub raised Bankrate from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Sidoti cut Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price objective for the company. in a research report on Monday, July 3rd. Finally, Zacks Investment Research cut Bankrate from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $12.71.
In other Bankrate news, CEO Christopher J. Speltz sold 12,300 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $11.95, for a total transaction 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 $3,342,809.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven Barnhart sold 9,712 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $12.00, for a total value of $116,544.00. Following 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. Insiders have sold 22,745 shares of company stock valued at $273,021 in the last three months. 6.30% of the stock is currently owned by company 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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