Wells Fargo & Company MN Raises Holdings in Bankrate Inc (RATE)
Wells Fargo & Company MN grew its position in Bankrate Inc (NYSE:RATE) by 58.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 50,635 shares of the bank’s stock after purchasing an additional 18,723 shares during the quarter. Wells Fargo & Company MN’s holdings in Bankrate were worth $706,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of Bankrate by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,931,727 shares of the bank’s stock worth $50,522,000 after purchasing an additional 330,048 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Bankrate by 129.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,293,630 shares of the bank’s stock worth $18,045,000 after purchasing an additional 729,037 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in shares of Bankrate during the 3rd quarter worth $12,658,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Bankrate during the 3rd quarter worth $9,665,000. Finally, Gabelli Funds LLC purchased a new stake in shares of Bankrate during the 3rd quarter worth $7,492,000. Institutional investors and hedge funds own 47.31% of the company’s stock.
Shares of Bankrate Inc (NYSE RATE) opened at $14.00 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.39 and a current ratio of 2.39. Bankrate Inc has a 12 month low of $8.55 and a 12 month high of $14.25. The firm has a market capitalization of $1,260.00, a price-to-earnings ratio of -56.00 and a beta of 1.64.
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Bankrate Company Profile
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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