Bankrate Reaches Agreement to Sell Insurance Business
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Bankrate (RATE) Reports a 3Q Beat and Raise; RBC Capital Reiterates Outperform
November 6, 2015 10:43 AM ESTRBC Capital reiterated an Outperform rating on Bankrate (NYSE: RATE), and raised the price target to $16.00 (from $15.00), following the company's 3Q earnings report. Q2 Revenue & EBITDA of $140.8MM & $39.9MM came in above the Street at $129.2MM & $34.9MM, as well as above guidance of... More
Bankrate (RATE) Tops Q3 EPS by 3c; Will Sell insuranceQuotes Unit
November 5, 2015 4:34 PM ESTBankrate (NYSE: RATE) reported Q3 EPS of $0.19, $0.03 better than the analyst estimate of $0.16. Revenue for the quarter came in at $140.8 million versus the consensus estimate of $129.2 million.
RATE also has reached an agreement to sell its insurance business ("insuranceQuotes") to All Web Leads, Inc., a portfolio company of Genstar Capital Partners. The transaction is subject to certain closing conditions and is expected to close by December 31, 2015.
The insuranceQuotes business will continue normal operations throughout this process.
"This transaction is... More
