Bankrate, Inc. Buyback
OLI recorded this information on 9/10/2015
Bankrate, Inc. (NYSE: RATE) today announced that its Board of Directors has authorized a $75 million stock repurchase program. Under the terms of the program, the Company may repurchase up to $75 million of its outstanding common stock. Stock repurchases under this program may be made through open market and privately negotiated transactions and in such amounts as management deems appropriate. The timing and amount of specific repurchases are subject to the requirements of the Securities and Exchange Commission, market conditions, alternative uses of capital and other factors. The stock repurchase program does not obligate the Company to acquire any particular amount of shares and the program may be limited or terminated at any time without prior notice. The program is effective immediately and will expire on December 31, 2016.
Bankrate is a publisher, aggregator and distributor of personal finance content on the Internet. Co. has four segments: Credit Cards, which provide visitors with a selection of consumer and business credit and prepaid cards, providing detailed information and comparison capabilities; Banking, which provide information on rates for various types of mortgages, home lending and refinancing options; Senior Care, which provide original articles, tools, an online senior living community directory for the U.S. and a local directory covering a range of other senior caregiving services; and Other, which includes unallocated corporate overhead and the elimination of transactions between segments.
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Hold (2.00 out of 4)
(ranked higher than approx. 87% of all stocks covered)
Based on Zacks ABR data;
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