Bankrate dips 3% on analyst downgrade

Shares of Bankrate Inc. (Nasdaq:RATE) dipped by nearly 3% this morning following an analyst’s downgrading of its stock.

This morning, Collins Stewart downgraded the North Palm Beach, Fla.-based Internet banking firm to “sell” from “hold.”

By late morning, the stock was at $33.10, down $0.98 from Wednesday’s close. The stock has traded as low as $24.54 and as high as $57.32 during the past 52 weeks.

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