FMR LLC increased its stake in shares of Bankrate Inc (NYSE:RATE) by 3.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,104,353 shares of the bank’s stock after buying an additional 112,861 shares during the period. FMR LLC owned 3.49% of Bankrate worth $34,303,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of RATE. State of New Jersey Common Pension Fund D boosted its position in shares of Bankrate by 40.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 2,100,000 shares of the bank’s stock worth $17,808,000 after buying an additional 600,000 shares during the last quarter. New Jersey Better Educational Savings Trust acquired a new position in shares of Bankrate during the third quarter worth approximately $594,000. P.A.W. Capital Corp purchased a new stake in shares of Bankrate during the third quarter worth about $678,000. Rothschild Asset Management Inc. raised its stake in shares of Bankrate by 637.6% in the third quarter. Rothschild Asset Management Inc. now owns 280,933 shares of the bank’s stock worth $2,382,000 after buying an additional 242,848 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Bankrate by 1.0% in the third quarter. Wells Fargo & Company MN now owns 16,676 shares of the bank’s stock worth $141,000 after buying an additional 168 shares during the period. Hedge funds and other institutional investors own 46.65% of the company’s stock.
Shares of Bankrate Inc (NYSE:RATE) traded up 0.51% on Friday, reaching $9.95. 265,317 shares of the company’s stock traded hands. Bankrate Inc has a 52 week low of $6.91 and a 52 week high of $11.90. The firm’s market capitalization is $885.89 million. The firm’s 50 day moving average is $9.94 and its 200 day moving average is $10.11.
A number of equities research analysts have issued reports on RATE shares. Oppenheimer Holdings Inc. started coverage on shares of Bankrate in a report on Tuesday, February 7th. They issued an “outperform” rating and a $14.00 price target on the stock. CIBC assumed coverage on shares of Bankrate in a report on Wednesday, February 8th. They issued an “outperform” rating and a $14.00 price target on the stock. Zacks Investment Research lowered shares of Bankrate from a “hold” rating to a “sell” rating in a research note on Wednesday, March 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Bankrate in a research note on Saturday, March 11th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $11.36.
In other news, CFO Steven Barnhart sold 12,142 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $10.13, for a total transaction of $122,998.46. Following the completion of the sale, the chief financial officer now owns 241,490 shares in the company, valued at $2,446,293.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James Gilmartin sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $10.35, for a total value of $51,750.00. Following the sale, the senior vice president now owns 92,170 shares of the company’s stock, valued at approximately $953,959.50. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.
About Bankrate
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.
