Sabal Capital Management adds Bankrate Inc (RATE) to its portfolio

Bankrate Inc (RATE) : Sabal Capital Management added new position in Bankrate Inc during the most recent quarter end. The investment management firm now holds 544,781 shares of Bankrate Inc which is valued at $4.7 Million , the company said in a statement filed on May 12, 2016 with the SEC.Bankrate Inc makes up approximately 8.15% of Sabal Capital Management’s portfolio.

Other Hedge Funds, Including , Zacks Investment Management added RATE to its portfolio by purchasing 24,517 company shares during the most recent quarter which is valued at $213,298. Bankrate Inc makes up approx 0.01% of Zacks Investment Management’s portfolio.Neuberger Berman Group boosted its stake in RATE in the latest quarter, The investment management firm added 116,552 additional shares and now holds a total of 1,567,782 shares of Bankrate Inc which is valued at $14.5 Million. Bankrate Inc makes up approx 0.02% of Neuberger Berman Group’s portfolio. Bronfman E.l. Rothschild added RATE to its portfolio by purchasing 185 company shares during the most recent quarter which is valued at $1,706.Princeton Alpha Management Lp boosted its stake in RATE in the latest quarter, The investment management firm added 5,401 additional shares and now holds a total of 32,570 shares of Bankrate Inc which is valued at $300,295. Bankrate Inc makes up approx 0.05% of Princeton Alpha Management Lp’s portfolio. Jennison Associates added RATE to its portfolio by purchasing 30,793 company shares during the most recent quarter which is valued at $283,911.

Bankrate Inc opened for trading at $8.39 and hit $8.63 on the upside on Friday, eventually ending the session at $8.61, with a gain of 2.87% or 0.24 points. The heightened volatility saw the trading volume jump to 4,97,641 shares. Company has a market cap of $778 M.

On the company’s financial health, Bankrate Inc reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Nov 5, 2015. Analyst had a consensus of $0.16. The company had revenue of $140.80 million for the quarter, compared to analysts expectations of $129.20 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.

Many Wall Street Analysts have commented on Bankrate Inc. Bankrate Inc was Upgraded by Goldman to ” Neutral” on Feb 26, 2016. Shares were Downgraded by RBC Capital Mkts on Feb 25, 2016 to ” Sector Perform” and Lowered the Price Target to $ 9 from a previous price target of $16 .Shares were Downgraded by Topeka Capital Markets on Feb 25, 2016 to ” Hold” and Lowered the Price Target to $ 9 from a previous price target of $19 .

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 insurance credit cards senior care and other personal finance categories. It operates through segments including Banking Credit Cards Insurance and Other. Through its Bankrate.com brand it provides consumer inquiries to advertisers that are listed in its mortgage and deposit rate tables and that hyperlink their listings. It provides consumer inquiries to credit card issuers and principally record sales after the credit card issuers approve the consumer’s credit application primarily through its Credi

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