Bankrate (RATE) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 1,149,638 to 1,101,217 shares, with 2 days to go before the expiry. The short open interest has decreased by -4.2%, amounting to a reduction of -48,421 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 2.4% of the float of the company. The average daily volume of the stock is 650,410 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Bankrate (NYSE:RATE): The stock opened at $7.85 on Wednesday but the bulls could not build on the opening and the stock topped out at $7.86 for the day. The stock traded down to $7.69 during the day, due to lack of any buying support eventually closed down at $7.70 with a loss of -1.66% for the day. The stock had closed at $7.83 on the previous day. The total traded volume was 257,571 shares.
In a related news, Gilmartin James R, (SVP, General Counsel) of Bankrate, Inc., unloaded 3,119 shares at an average price of $8.68 on May 17, 2016. The total amount of the transaction was worth $27,073, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Bankrate, Inc. (Bankrate) 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, insurance, credit cards, senior care and other personal finance categories. It operates through segments, including Banking, Credit Cards, Insurance and Other. Through its Bankrate.com brand, it provides consumer inquiries to advertisers that are listed in its mortgage and deposit rate tables and that hyperlink their listings. It provides consumer inquiries to credit card issuers and principally record sales after the credit card issuers approve the consumers credit application, primarily through its Credi