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Bankrate (RATE) Catches Eye: Stock Jumps 8.6% in Session

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Bankrate, Inc. was a big mover last session, as the company saw its shares rise over 8% on the day. The move came after the company announced that it has entered into a definitive agreement to be acquired by Red Ventures, a leading digital consumer choice platform, in an all-cash transaction that values Bankrate at an enterprise value of approximately $1.4 billion. This led to far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up over 29% in the past one-month time frame.

None of the estimates for this stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Bankrate currently carries a Zacks Rank #3 (Hold), while its Earnings ESP is 0.00%.

A better-ranked stock in the Internet - Content space is Remark Media, Inc. (MARK - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is RATE going up? Or down? Predict to see what others think: Up or Down

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