Airain ltd Reduces Stake in Bankrate, Inc. (RATE)

Airain ltd decreased its position in shares of Bankrate, Inc. (NYSE:RATE) by 7.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,525 shares of the bank’s stock after selling 2,372 shares during the quarter. Airain ltd’s holdings in Bankrate were worth $354,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RATE. Wedge Capital Management L L P NC lifted its holdings in Bankrate by 1.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 18,840 shares of the bank’s stock valued at $182,000 after purchasing an additional 300 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Bankrate by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 195,875 shares of the bank’s stock worth $2,517,000 after acquiring an additional 1,197 shares during the period. American International Group Inc. raised its holdings in shares of Bankrate by 7.1% during the 1st quarter. American International Group Inc. now owns 29,199 shares of the bank’s stock worth $282,000 after acquiring an additional 1,928 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Bankrate by 2.1% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 128,945 shares of the bank’s stock worth $1,244,000 after acquiring an additional 2,680 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Bankrate by 4.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 74,023 shares of the bank’s stock worth $714,000 after acquiring an additional 3,331 shares during the period. Hedge funds and other institutional investors own 47.24% of the company’s stock.

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Bankrate, Inc. (NYSE RATE) opened at 13.88 on Friday. The company’s 50-day moving average price is $13.87 and its 200-day moving average price is $11.81. The firm’s market cap is $1.24 billion. Bankrate, Inc. has a one year low of $7.10 and a one year high of $14.25.

Bankrate (NYSE:RATE) last released its earnings results on Monday, August 7th. The bank reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.01). The firm had revenue of $115.90 million for the quarter, compared to the consensus estimate of $117.60 million. Bankrate had a positive return on equity of 6.50% and a negative net margin of 4.61%. Bankrate’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the company posted $0.01 EPS. On average, analysts anticipate that Bankrate, Inc. will post $0.70 EPS for the current year.

In related news, CEO Christopher J. Speltz sold 12,300 shares of Bankrate 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Barnhart sold 9,712 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $12.00, for a total transaction of $116,544.00. Following the sale, the chief financial officer now directly owns 295,222 shares in the company, valued at approximately $3,542,664. The disclosure for this sale can be found here. Insiders sold a total of 22,745 shares of company stock valued at $273,021 over the last quarter. 6.30% of the stock is currently owned by company insiders.

A number of analysts recently issued reports on the company. Zacks Investment Research downgraded Bankrate from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Needham & Company LLC cut Bankrate from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Stephens cut Bankrate from an “overweight” rating to an “equal weight” rating and set a $14.00 target price for the company. in a research note on Friday, July 7th. BidaskClub cut Bankrate from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Sidoti cut Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price objective for the company. in a research note on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $12.71.

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.

Institutional Ownership by Quarter for Bankrate (NYSE:RATE)

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