Bankrate Inc (RATE) Holdings Cut by California Public Employees Retirement System
California Public Employees Retirement System lessened its holdings in Bankrate Inc (NYSE:RATE) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,900 shares of the bank’s stock after selling 4,400 shares during the quarter. California Public Employees Retirement System owned 0.15% of Bankrate worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new position in Bankrate in the 3rd quarter valued at $289,000. Berkley W R Corp bought a new position in shares of Bankrate during the 3rd quarter worth $300,000. Caxton Associates LP bought a new position in shares of Bankrate during the 3rd quarter worth $350,000. Allianz Asset Management GmbH bought a new position in shares of Bankrate during the 3rd quarter worth $1,315,000. Finally, Engineers Gate Manager LP grew its stake in shares of Bankrate by 35.5% during the 3rd 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. Hedge funds and other institutional investors own 47.31% of the company’s stock.
Separately, BidaskClub downgraded Bankrate from a “sell” rating to a “strong sell” rating in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average 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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