Rocket Companies, Inc. (NYSE:RKT) Shares Sold by Fmr LLC

Fmr LLC reduced its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 31.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,638,277 shares of the company’s stock after selling 3,523,053 shares during the period. Fmr LLC’s holdings in Rocket Companies were worth $146,579,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in RKT. Raymond James & Associates grew its holdings in Rocket Companies by 48.7% during the third quarter. Raymond James & Associates now owns 300,612 shares of the company’s stock worth $5,769,000 after acquiring an additional 98,397 shares during the period. Entropy Technologies LP purchased a new position in shares of Rocket Companies during the 3rd quarter worth about $875,000. Philip James Wealth Mangement LLC purchased a new position in shares of Rocket Companies in the 3rd quarter worth $6,811,000. Victory Capital Management Inc. lifted its position in Rocket Companies by 324.4% during the third quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock valued at $1,289,000 after buying an additional 51,336 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in shares of Rocket Companies during the third quarter worth about $196,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Stock Down 0.9 %

RKT stock opened at $14.05 on Wednesday. Rocket Companies, Inc. has a 12-month low of $9.60 and a 12-month high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The company has a market cap of $28.03 billion, a price-to-earnings ratio of -87.81 and a beta of 2.38. The company has a 50 day moving average of $16.25 and a two-hundred day moving average of $16.32.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The firm had revenue of $647.00 million for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The firm’s revenue was down 46.2% on a year-over-year basis. On average, equities analysts anticipate that Rocket Companies, Inc. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on RKT. UBS Group cut their price target on Rocket Companies from $14.00 to $12.50 and set a “sell” rating on the stock in a research note on Thursday, November 14th. JPMorgan Chase & Co. boosted their target price on shares of Rocket Companies from $15.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Royal Bank of Canada lowered their target price on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 13th. Wedbush restated a “neutral” rating and issued a $13.00 price objective (down previously from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. Finally, Morgan Stanley started coverage on shares of Rocket Companies in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $18.00 target price for the company. Five analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Rocket Companies has a consensus rating of “Hold” and an average price target of $15.13.

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.