Mitsubishi UFJ Trust & Banking Corp Buys 15,103 Shares of Rocket Companies, Inc. (NYSE:RKT)

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Rocket Companies, Inc. (NYSE:RKTGet Rating) by 321.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 19,803 shares of the company’s stock after acquiring an additional 15,103 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Rocket Companies were worth $146,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC bought a new stake in Rocket Companies during the 1st quarter worth $306,000. Envestnet Asset Management Inc. boosted its stake in shares of Rocket Companies by 36.0% during the first quarter. Envestnet Asset Management Inc. now owns 295,146 shares of the company’s stock valued at $3,282,000 after purchasing an additional 78,167 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Rocket Companies by 4.4% during the first quarter. Commonwealth Equity Services LLC now owns 157,278 shares of the company’s stock worth $1,748,000 after purchasing an additional 6,648 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Rocket Companies by 817.1% in the first quarter. Victory Capital Management Inc. now owns 400,885 shares of the company’s stock valued at $3,548,000 after buying an additional 357,173 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Rocket Companies by 7.6% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,689 shares of the company’s stock valued at $197,000 after buying an additional 1,250 shares during the last quarter. Institutional investors own 4.16% of the company’s stock.

Insider Activity

In other news, CEO Jay Farner bought 24,000 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were acquired at an average price of $8.33 per share, with a total value of $199,920.00. Following the acquisition, the chief executive officer now owns 3,821,107 shares of the company’s stock, valued at approximately $31,829,821.31. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased a total of 1,009,300 shares of company stock worth $7,068,115 over the last ninety days. Company insiders own 94.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RKT shares. The Goldman Sachs Group reduced their target price on shares of Rocket Companies from $7.25 to $6.50 and set a “neutral” rating on the stock in a report on Monday, November 7th. Wells Fargo & Company lowered their price objective on shares of Rocket Companies from $10.00 to $7.00 and set an “overweight” rating for the company in a research note on Friday, November 4th. Keefe, Bruyette & Woods lowered shares of Rocket Companies from a “market perform” rating to an “underperform” rating and set a $6.50 target price on the stock. in a research note on Sunday, August 7th. Argus downgraded shares of Rocket Companies from a “hold” rating to a “sell” rating in a research note on Wednesday, November 16th. Finally, UBS Group set a $8.00 price objective on shares of Rocket Companies in a research report on Wednesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.65.

Rocket Companies Stock Up 5.0 %

Shares of NYSE RKT opened at $7.75 on Thursday. The business’s fifty day moving average price is $6.95 and its 200-day moving average price is $8.04. Rocket Companies, Inc. has a one year low of $5.97 and a one year high of $16.65. The stock has a market capitalization of $15.27 billion, a PE ratio of 9.94 and a beta of 1.74. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.69 and a quick ratio of 11.69.

Rocket Companies Company Profile

(Get Rating)

Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and e-Commerce businesses 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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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Institutional Ownership by Quarter for Rocket Companies (NYSE:RKT)

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