Algert Global LLC raised its holdings in Rocket Companies, Inc. (NYSE:RKT – Free Report) by 117.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,285 shares of the company’s stock after purchasing an additional 12,565 shares during the quarter. Algert Global LLC’s holdings in Rocket Companies were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vima LLC acquired a new stake in shares of Rocket Companies in the 4th quarter valued at approximately $31,000. Blue Trust Inc. purchased a new position in Rocket Companies in the second quarter worth $61,000. EntryPoint Capital LLC acquired a new stake in Rocket Companies in the first quarter valued at $77,000. Bridges Investment Management Inc. purchased a new stake in shares of Rocket Companies during the 2nd quarter worth $143,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Rocket Companies during the 1st quarter worth $150,000. Institutional investors and hedge funds own 4.59% of the company’s stock.
Rocket Companies Stock Up 0.3 %
RKT opened at $17.56 on Wednesday. The business’s fifty day simple moving average is $18.89 and its 200 day simple moving average is $15.58. Rocket Companies, Inc. has a 52 week low of $7.17 and a 52 week high of $21.38. The firm has a market cap of $34.92 billion, a P/E ratio of 159.64 and a beta of 2.44. The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.27.
Analyst Upgrades and Downgrades
Several analysts recently commented on RKT shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Rocket Companies from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. UBS Group lifted their price target on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a research report on Monday, September 16th. Royal Bank of Canada raised their price objective on Rocket Companies from $16.00 to $20.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 11th. Wells Fargo & Company lifted their price objective on Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods upgraded Rocket Companies from an “underperform” rating to a “market perform” rating in a research report on Monday, August 5th. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.89.
Read Our Latest Analysis on RKT
Rocket Companies Company Profile
Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.
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