Legal & General Group Plc held its position in shares of Bankrate, Inc. (NYSE:RATE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,731 shares of the bank’s stock at the end of the second quarter. Legal & General Group Plc’s holdings in Bankrate were worth $201,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Bankrate by 14.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,601,679 shares of the bank’s stock valued at $34,757,000 after buying an additional 447,530 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Bankrate by 6.9% in the 1st quarter. Renaissance Technologies LLC now owns 1,403,000 shares of the bank’s stock valued at $13,539,000 after buying an additional 91,042 shares in the last quarter. Citadel Advisors LLC grew its stake in shares of Bankrate by 800.1% in the 1st quarter. Citadel Advisors LLC now owns 402,426 shares of the bank’s stock valued at $3,884,000 after buying an additional 357,716 shares in the last quarter. Morgan Stanley grew its stake in shares of Bankrate by 10.0% in the 1st quarter. Morgan Stanley now owns 382,529 shares of the bank’s stock valued at $3,692,000 after buying an additional 34,843 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Bankrate by 65.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 368,644 shares of the bank’s stock valued at $4,737,000 after buying an additional 146,115 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors.
Bankrate (NYSE:RATE) last posted its quarterly earnings data 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%. The firm’s quarterly revenue 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.
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RATE has been the subject of several recent research reports. BidaskClub raised Bankrate from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Stephens cut Bankrate from an “overweight” rating to an “equal weight” rating and set a $14.00 price target for the company. in a research note on Friday, July 7th. Needham & Company LLC cut Bankrate from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Sidoti cut Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price target for the company. in a research note on Monday, July 3rd. Finally, Zacks Investment Research cut Bankrate from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Bankrate currently has an average rating of “Hold” and an average price target of $13.33.
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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