Bank of New York Mellon Corp Has $3.04 Million Position in Bankrate Inc (RATE)

Bank of New York Mellon Corp decreased its stake in shares of Bankrate Inc (NYSE:RATE) by 40.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 218,135 shares of the bank’s stock after selling 150,509 shares during the quarter. Bank of New York Mellon Corp owned about 0.24% of Bankrate worth $3,043,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in Bankrate by 966.6% during the second quarter. Royal Bank of Canada now owns 19,529 shares of the bank’s stock worth $251,000 after buying an additional 17,698 shares in the last quarter. American Century Companies Inc. lifted its position in Bankrate by 3.4% during the second quarter. American Century Companies Inc. now owns 351,472 shares of the bank’s stock worth $4,516,000 after buying an additional 11,447 shares in the last quarter. AHL Partners LLP lifted its position in Bankrate by 54.9% during the second quarter. AHL Partners LLP now owns 63,363 shares of the bank’s stock worth $814,000 after buying an additional 22,467 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Bankrate by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,931,727 shares of the bank’s stock worth $50,522,000 after buying an additional 330,048 shares in the last quarter. Finally, Mizuho Securities USA LLC purchased a new position in Bankrate during the third quarter worth approximately $1,320,000. Hedge funds and other institutional investors own 47.31% of the company’s stock.

Shares of Bankrate Inc (RATE) opened at $14.00 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.39 and a current ratio of 2.39. The stock has a market capitalization of $1,260.00, a price-to-earnings ratio of -56.00 and a beta of 1.64. Bankrate Inc has a one year low of $8.55 and a one year high of $14.25.

Separately, BidaskClub downgraded Bankrate from a “buy” rating to a “hold” rating in a research report on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $14.00.

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Bankrate 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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Institutional Ownership by Quarter for Bankrate (NYSE:RATE)

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