Cubist Systematic Strategies LLC purchased a new stake in shares of Bankrate Inc (NYSE:RATE) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,687 shares of the bank’s stock, valued at approximately $289,000.
Several other institutional investors have also recently modified their holdings of the company. Berkley W R Corp bought a new position in shares of Bankrate in the third quarter worth approximately $300,000. Caxton Associates LP purchased a new stake in Bankrate in the third quarter worth $350,000. Allianz Asset Management GmbH purchased a new stake in Bankrate in the third quarter worth $1,315,000. Engineers Gate Manager LP lifted its stake in Bankrate by 35.5% in the third quarter. Engineers Gate Manager LP now owns 50,675 shares of the bank’s stock worth $707,000 after acquiring an additional 13,279 shares during the period. Finally, Mint Tower Capital Management B.V. purchased a new stake in Bankrate in the third quarter worth $1,131,000. Hedge funds and other institutional investors own 47.31% of the company’s stock.
Shares of Bankrate Inc (NYSE:RATE) traded up $0.05 during trading on Friday, reaching $14.00. The company’s stock had a trading volume of 2,003,120 shares, compared to its average volume of 620,162. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.39 and a quick ratio of 2.39. The stock has a market capitalization of $1,260.00, a price-to-earnings ratio of -56.00 and a beta of 1.64. Bankrate Inc has a fifty-two week low of $8.55 and a fifty-two week high of $14.25.
Separately, BidaskClub lowered Bankrate from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.00.
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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.
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