BlackRock Advisors LLC boosted its stake in shares of Bankrate, Inc. (NYSE:RATE) by 0.9% during the third quarter, Holdings Channel reports. The institutional investor owned 142,047 shares of the company’s stock after buying an additional 1,242 shares during the period. BlackRock Advisors LLC owned about 0.16% of Bankrate worth $1,205,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in RATE. First Trust Advisors LP bought a new stake in shares of Bankrate during the second quarter valued at about $273,000. Airain ltd bought a new stake in shares of Bankrate during the second quarter valued at about $297,000. JPMorgan Chase & Co. raised its stake in shares of Bankrate by 180,116.6% in the second quarter. JPMorgan Chase & Co. now owns 261,314 shares of the company’s stock valued at $1,954,000 after buying an additional 261,169 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Bankrate by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,808,960 shares of the company’s stock valued at $21,012,000 after buying an additional 122,338 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Bankrate by 89.5% in the second quarter. Prudential Financial Inc. now owns 764,595 shares of the company’s stock valued at $5,719,000 after buying an additional 361,100 shares during the period. 47.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bankrate, Inc. (NYSE:RATE) remained flat at $11.20 on Friday. The company had a trading volume of 97,881 shares. The stock’s market capitalization is $995.81 million. The company’s 50-day moving average is $11.07 and its 200 day moving average is $9.06. Bankrate, Inc. has a 12 month low of $6.59 and a 12 month high of $12.93.
Bankrate (NYSE:RATE) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $128.80 million for the quarter, compared to the consensus estimate of $114.21 million. Bankrate had a negative net margin of 6.09% and a positive return on equity of 8.98%. The company’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 earnings per share. Equities research analysts forecast that Bankrate, Inc. will post $0.63 earnings per share for the current year.
Separately, Loop Capital raised shares of Bankrate from a “hold” rating to a “buy” rating and lifted their price target for the company from $9.00 to $10.00 in a report on Friday, November 4th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $11.06.
Bankrate Company Profile
Bankrate, Inc (Bankrate) 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.
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