Bankrate Acquired by Red Ventures in $1.4 Billion Deal

(NYSE:RATE). At the time of writing, the First Call consensus price target for the company is $12.33. The S&P 500 index is up 15.2% for the last 12 months.In other news, CFO Steven Barnhart sold 9,712 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $12.00, for a total value of $116,544.00.If we look at stock performance in last active day trading, we see that stock has moved ticked up 1.26% to end the day at $23.24. FMR LLC increased its position in Bankrate by 3.8% in the fourth quarter. Elk Creek Partners LLC increased its position in Bankrate by 7.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,601,679 shares of the bank’s stock worth $34,757,000 after buying an additional 447,530 shares during the period. Parametric Portfolio Associates LLC now owns 74,023 shares of the bank’s stock worth $714,000 after buying an additional 3,331 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Bankrate by 14.2% in the first quarter.Bankrate (NYSE:RATE) last announced its earnings results on Thursday, May 4th. Next quarter’s EPS is estimated at $0.21 with next year’s EPS anticipated to be $0.82. If you are viewing this news story on another site, it was illegally stolen and republished in violation of United States & worldwide trademark and copyright laws. Norges Bank bought a new position in Bankrate during the fourth quarter worth approximately $4,991,000. The legal version of this piece can be accessed at Bankrate had a negative net margin of 8.64% and a positive return on equity of 6.66%.Several research analysts have recently issued reports on RATE shares. The firm’s quarterly revenue was up 27.2% compared to the same quarter a year ago. State Street Corp now owns 1,127,884 shares of the bank’s stock worth $12,466,000 after buying an additional 153,314 shares in the last quarter.Red Ventures, the fast-growing marketing and technology firm based in Indian Land, S.C., said Monday that it is buying personal finance website Bankrate for $1.4 billion in cash. During the same quarter in the prior year, the firm earned $0.12 EPS.Bankrate helps customers make the most of their money when they borrow, save or invest while creating a range of editorial content related to topics such as credit cards, mortgages and deposits.As of the latest earnings report the EPS was $-0.45 and is estimated to be $0.70 for the current year with 88,611,000 shares now outstanding.Bank of America, Barclays, Citigroup, Credit Suisse, Fifth Third Bancorp, Mitsubishi UFJ and PNC Financial are acting as financial advisers to Red Ventures, and are providing debt financing to the company.