Bankrate, Inc. (RATE) Short Interest Update

Bankrate, Inc. (NYSE:RATE) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 818,969 shares, an increase of 47.4% from the August 15th total of 555,466 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily volume of 656,127 shares, the days-to-cover ratio is presently 1.2 days.

RATE has been the topic of several research reports. BidaskClub raised shares of Bankrate from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Stephens cut shares of Bankrate from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective on the stock. in a research report on Friday, July 7th. Zacks Investment Research cut shares of Bankrate from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Sidoti cut shares of Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a research report on Monday, July 3rd. Finally, Needham & Company LLC cut shares of Bankrate from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Bankrate has an average rating of “Hold” and a consensus price target of $12.71.

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

Large investors have recently bought and sold shares of the business. Paloma Partners Management Co acquired a new stake in Bankrate in the first quarter worth $129,000. Global X Management Co. LLC lifted its stake in shares of Bankrate by 279.2% in the second quarter. Global X Management Co. LLC now owns 14,480 shares of the bank’s stock valued at $186,000 after buying an additional 10,661 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Bankrate in the first quarter valued at $156,000. Royal Bank of Canada lifted its stake in shares of Bankrate by 966.6% in the second quarter. Royal Bank of Canada now owns 19,529 shares of the bank’s stock valued at $251,000 after buying an additional 17,698 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of Bankrate in the first quarter valued at $220,000. Institutional investors and hedge funds own 47.24% of the company’s stock.

Shares of Bankrate (RATE) opened at 13.85 on Tuesday. The firm’s 50-day moving average is $13.87 and its 200 day moving average is $11.86. The company’s market capitalization is $1.23 billion. Bankrate has a 12 month low of $7.10 and a 12 month high of $14.25.

Bankrate (NYSE:RATE) last posted its quarterly earnings results on Monday, August 7th. The bank reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The company had revenue of $115.90 million during the quarter, compared to analyst estimates of $117.60 million. Bankrate had a positive return on equity of 6.50% and a negative net margin of 4.61%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 earnings per share. Equities research analysts predict that Bankrate will post $0.70 EPS for the current year.

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Bankrate Company Profile

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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