86,545 Shares in Rocket Companies, Inc. (NYSE:RKT) Bought by MFG Wealth Management Inc.

MFG Wealth Management Inc. purchased a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) during the 4th quarter, HoldingsChannel reports. The firm purchased 86,545 shares of the company’s stock, valued at approximately $974,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RKT. Capital Performance Advisors LLP acquired a new position in Rocket Companies during the third quarter worth $39,000. KBC Group NV increased its stake in shares of Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after purchasing an additional 2,226 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Rocket Companies by 54.1% during the third quarter. Blue Trust Inc. now owns 6,438 shares of the company’s stock worth $124,000 after purchasing an additional 2,261 shares in the last quarter. DMC Group LLC raised its position in shares of Rocket Companies by 8.1% during the 3rd quarter. DMC Group LLC now owns 31,775 shares of the company’s stock worth $610,000 after purchasing an additional 2,373 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Rocket Companies by 14.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 22,566 shares of the company’s stock valued at $433,000 after buying an additional 2,766 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on RKT. JPMorgan Chase & Co. cut their price objective on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Barclays dropped their price target on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday, November 13th. Bank of America raised their price objective on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 14th. Piper Sandler dropped their target price on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Royal Bank of Canada decreased their price target 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. Five research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Rocket Companies presently has an average rating of “Hold” and an average price target of $13.50.

Rocket Companies Stock Down 4.5 %

NYSE:RKT opened at $12.22 on Thursday. The company’s 50-day moving average is $11.92 and its two-hundred day moving average is $15.51. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $647.00 million for the quarter, compared to analysts’ expectations of $1.25 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The firm’s quarterly revenue was down 46.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) earnings per share. As a group, equities analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

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.