Hedge Funds Are Banking On Bankrate Inc (RATE)

Consequently, key hedge funds have jumped into Bankrate Inc (NYSE:RATE) headfirst. PEAK6 Capital Management, managed by Matthew Hulsizer, assembled the biggest position in Bankrate Inc (NYSE:RATE). PEAK6 Capital Management had $2.3 million invested in the company at the end of the quarter. Joel Greenblatt’s Gotham Asset Management also made a $2.2 million investment in the stock during the quarter. The following funds were also among the new RATE investors: Glenn Russell Dubin’s Highbridge Capital Management, Israel Englander’s Millennium Management, and Peter Muller’s PDT Partners.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Bankrate Inc (NYSE:RATE) but similarly valued. We will take a look at Franklin Street Properties Corp. (NYSEMKT:FSP), Physicians Realty Trust (NYSE:DOC), Advanced Energy Industries, Inc. (NASDAQ:AEIS), and ServisFirst Bancshares, Inc. (NASDAQ:SFBS). This group of stocks’ market valuations are similar to RATE’s market valuation.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $65 million. That figure was $112 million in RATE’s case. Franklin Street Properties Corp. (NYSEMKT:FSP) is the most popular stock in this table. On the other hand ServisFirst Bancshares, Inc. (NASDAQ:SFBS) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Bankrate Inc (NYSE:RATE) is more popular among hedge funds and has more capital invested in it. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.