Martingale Asset Management L P grew its stake in Bankrate, Inc. (NYSE:RATE) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,276 shares of the bank’s stock after purchasing an additional 600 shares during the quarter. Martingale Asset Management L P owned approximately 0.15% of Bankrate worth $1,777,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Alliancebernstein L.P. lifted its holdings in shares of Bankrate by 68.0% in the second quarter. Alliancebernstein L.P. now owns 148,100 shares of the bank’s stock valued at $1,903,000 after purchasing an additional 59,920 shares in the last quarter. AXA increased its position in shares of Bankrate by 6.3% during the second quarter. AXA now owns 227,799 shares of the bank’s stock valued at $2,927,000 after acquiring an additional 13,599 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Bankrate by 1.6% during the second quarter. Wells Fargo & Company MN now owns 31,912 shares of the bank’s stock valued at $410,000 after acquiring an additional 509 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Bankrate by 64.2% during the second quarter. JPMorgan Chase & Co. now owns 564,593 shares of the bank’s stock valued at $7,255,000 after acquiring an additional 220,712 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Bankrate by 3.0% during the second quarter. Oppenheimer & Co. Inc. now owns 16,615 shares of the bank’s stock valued at $214,000 after acquiring an additional 477 shares during the last quarter. Institutional investors own 47.24% of the company’s stock.

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RATE has been the subject of a number of research analyst reports. BidaskClub raised Bankrate from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research downgraded Bankrate from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Stephens downgraded Bankrate from an “overweight” rating to an “equal weight” rating and set a $14.00 price target for the company. in a research report on Friday, July 7th. Sidoti downgraded Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price target for the company. in a research report on Monday, July 3rd. Finally, ValuEngine downgraded Bankrate from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $12.71.

Bankrate, Inc. (NYSE:RATE) opened at 13.90 on Thursday. Bankrate, Inc. has a 12 month low of $7.10 and a 12 month high of $14.25. The stock’s market capitalization is $1.24 billion. The stock has a 50 day moving average price of $13.87 and a 200 day moving average price of $11.88.

Bankrate (NYSE:RATE) last posted its quarterly earnings data on Monday, August 7th. The bank reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The company had revenue of $115.90 million during the quarter, compared to analysts’ expectations of $117.60 million. Bankrate had a positive return on equity of 6.50% and a negative net margin of 4.61%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share. On average, equities research analysts forecast that Bankrate, Inc. will post $0.70 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Bankrate (NYSE:RATE)

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