High Risk, High Reward At Bankrate
Thu, Nov. 3, 4:09 PM
Wed, Nov. 2, 5:35 PM
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Mon, Oct. 3, 6:17 AM
- Fifteen years after the decimalization of stock trading, a pilot program will widen "tick sizes" to five-cent increments rather than pennies for some stocks starting today.
- The move, set in motion by the SEC a couple of years ago, is designed to see whether nickel increments can boost trading in smaller-cap stocks.
- The program starts today with 10 stocks, including International Speedway (NASDAQ:ISCA) and Bankrate (NYSE:RATE), and by the end of October will include about 1,200 firms.
- A possible downside is higher trading costs, even as market makers tend to profit from wider bid/ask spreads. Some observers says hopes for better liquidity are overstated, partly because bid-offer spreads of many of the pilot's issuers are already wider than a nickel.
Thu, Aug. 4, 4:31 PM
Wed, Aug. 3, 5:35 PM
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Tue, May 17, 1:19 PM
- Bankrate (RATE -0.1%) says it has a proposed settlement of a private securites class action suit.
- The company would pay $20M in cash to a fund to resolve claims of investors who bought the stock between Oct. 27, 2011, and Oct. 9, 2014, and deny all claims of wrongdoing or liability.
- That requires approval by the court. About 70% of that funding would come out of insurance.
- Now read High Risk, High Reward At Bankrate »
Thu, May 5, 4:42 PM
- Bankrate (NYSE:RATE): Q1 EPS of $0.12 beats by $0.04.
- Revenue of $93.3M (+4.8% Y/Y) beats by $11.41M.
- Shares +11.2%.
Thu, Feb. 25, 12:48 PM
Thu, Feb. 25, 11:45 AM
- Bankrate (NYSE:RATE) has lost nearly half its value today, -46.9%, and has hit a record low with its worst intraday drop after disappointing earnings -- and some confusion about how Google Compare, its financial-services shopping site, affects the company going forward.
- Bankrate trading volume has crested 3.9M shares this morning against an average of 746,000. Revenues grew overall but declined in its Banking segment, and EBITDA declined 8% and fell short of consensus.
- RBC Capital downgraded the stock to Sector Perform and slashed its price target to $9 from $16, while Topeka Capital Markets also cut from Buy to Hold and also lowered PT to $9 from $16. Shares are trading currently at $6.74.
- The company said Google's testing of a more prominent Compare Credit Cards service adversely affected its growth and profitability. Google said it was shuttering the service, and while "we believe Google's announcement is a positive development for Bankrate," the company still has limited visibility into business going forward (and also against other Google changes to credit-card search results).
- Previously: Bankrate tumbles 9% as revenues, earnings fall short (Feb. 24 2016)
- Previously: Alphabet turns out the lights on Google Compare (Feb. 23 2016)
Thu, Feb. 25, 9:12 AM| Thu, Feb. 25, 9:12 AM | 9 Comments
Wed, Feb. 24, 5:39 PM
Wed, Feb. 24, 4:58 PM
- Bankrate (RATE +2.5%) has slid 9.2% after hours following Q4 results where revenues grew slightly but fell well short of consensus.
- EBITDA of $28.5M was down 8% and fell short of analyst consensus fo $37.8M. The company generally excluded results from its Insurance business, InsuranceQuotes.com, sold to All Web Leads at the end of December.
- Revenue by segment: Banking, $23.8M (down 16.7%); Credit Cards, $63.6M (up 5.8%); Senior Care, $6.3M (up 57.8%).
- In Credit Cards, mobile inquiries made up 49% of CreditCards.com's total, and 22% of inquiry revenue.
- Conference call to come at 5 p.m. ET.
Wed, Feb. 24, 4:35 PM
- Bankrate (NYSE:RATE): Q4 Net income of $4.8M
- Revenue of $93.4M (+2.3% Y/Y)
Tue, Feb. 23, 5:35 PM
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Tue, Feb. 23, 3:21 AM
- Alphabet (GOOG, GOOGL) is shuttering Google Compare, its U.S. comparison-shopping site for auto insurance, credit cards and mortgages after one year, WSJ reports.
- The quick reversal is a setback to the company's efforts to provide consumers with niche shopping and financial-services tools, and follows the demise of a similar website called Google Advisor that was shuttered in 2011.
- Other sites that let consumers compare rates on financial services have seen a recent surge in investor interest. Shares of LendingTree (NASDAQ:TREE) are up 55% over the past year, while Bankrate (NYSE:RATE), up 2% in the past year, could also benefit from Google’s move.
Dec. 30, 2015, 7:02 PM
- Bankrate (NYSE:RATE) slipped 2.2% today following the wrap-up of the sale of its insuranceQuotes business, to All Web Leads.
- All Web Leads (a portfolio company of Genstar Capital) is a customer acquisition marketing company focused on insurance.
- It had agreed to pay $140M in cash at closing time and an additional $25M to come on the second anniversary of the closing.