Cornerstone Capital Management Holdings LLC. Purchases 63,453 Shares of Bankrate, Inc. (RATE)

Cornerstone Capital Management Holdings LLC. increased its stake in shares of Bankrate, Inc. (NYSE:RATE) by 141.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 108,179 shares of the bank’s stock after buying an additional 63,453 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Bankrate were worth $1,043,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RATE. Russell Investments Group Ltd. purchased a new position in shares of Bankrate during the fourth quarter worth approximately $2,104,000. State Street Corp boosted its position in shares of Bankrate by 15.7% in the fourth quarter. State Street Corp now owns 1,127,884 shares of the bank’s stock worth $12,466,000 after buying an additional 153,314 shares during the last quarter. Oxford Asset Management purchased a new position in shares of Bankrate during the fourth quarter worth approximately $734,000. Dimensional Fund Advisors LP boosted its position in shares of Bankrate by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,154,149 shares of the bank’s stock worth $34,855,000 after buying an additional 220,853 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Bankrate by 3.8% in the fourth quarter. FMR LLC now owns 3,104,353 shares of the bank’s stock worth $34,303,000 after buying an additional 112,861 shares during the last quarter. 49.27% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Bankrate (NYSE:RATE)

Bankrate, Inc. (RATE) traded down 1.28% during midday trading on Tuesday, hitting $11.55. The stock had a trading volume of 14,910 shares. The stock has a 50-day moving average price of $10.75 and a 200 day moving average price of $10.68. Bankrate, Inc. has a 12-month low of $6.91 and a 12-month high of $11.95. The firm’s market cap is $1.02 billion.

Bankrate (NYSE:RATE) last issued its quarterly earnings data on Thursday, May 4th. The bank reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Bankrate had a positive return on equity of 6.66% and a negative net margin of 8.64%. The firm had revenue of $118.70 million during the quarter, compared to the consensus estimate of $116.18 million. During the same period in the previous year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, equities analysts anticipate that Bankrate, Inc. will post $0.70 earnings per share for the current fiscal year.

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RATE has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of Bankrate in a report on Saturday, March 11th. ValuEngine cut Bankrate from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised Bankrate from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $13.00 target price (down previously from $14.00) on shares of Bankrate in a report on Monday, March 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $11.75.

In other Bankrate news, CEO Christopher J. Speltz sold 12,500 shares of the business’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $10.95, for a total value of $136,875.00. Following the completion of the transaction, the chief executive officer now directly owns 292,233 shares in the company, valued at approximately $3,199,951.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven Barnhart sold 6,702 shares of the business’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $10.25, for a total value of $68,695.50. Following the completion of the transaction, the chief financial officer now owns 311,336 shares of the company’s stock, valued at $3,191,194. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

About Bankrate

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “RATE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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