Pivot Point Capital Partners Exits Position in Bankrate Inc (RATE)

Bankrate Inc (RATE) : Pivot Point Capital Partners has sold out all of its stake in Bankrate Inc during the most recent quarter, according to the disclosure filed by the company on May 13, 2016 with the SEC. The investment management company has sold out 2,024,519 shares of Bankrate Inc which is valued at $17.6 Million.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc boosted its stake in RATE in the latest quarter, The investment management firm added 8,919 additional shares and now holds a total of 207,307 shares of Bankrate Inc which is valued at $1.9 Million.Nationwide Fund Advisors boosted its stake in RATE in the latest quarter, The investment management firm added 532 additional shares and now holds a total of 51,435 shares of Bankrate Inc which is valued at $474,231. High Pointe Capital Management sold out all of its stake in RATE during the most recent quarter. The investment firm sold 65,060 shares of RATE which is valued $599,853.Rhumbline Advisers boosted its stake in RATE in the latest quarter, The investment management firm added 10,395 additional shares and now holds a total of 100,693 shares of Bankrate Inc which is valued at $928,389.

Bankrate Inc closed down -0.05 points or -0.58% at $8.55 with 8,51,799 shares getting traded on Wednesday. Post opening the session at $8.65, the shares hit an intraday low of $8.54 and an intraday high of $8.75 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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

Leave a Reply

Bankrate Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Bankrate Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.