Cwm LLC Boosts Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Cwm LLC lifted its holdings in shares of Rocket Companies, Inc. (NYSE:RKTGet Rating) by 134.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,397 shares of the company’s stock after buying an additional 4,244 shares during the quarter. Cwm LLC’s holdings in Rocket Companies were worth $47,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sage Private Wealth Group LLC raised its position in Rocket Companies by 11.4% during the second quarter. Sage Private Wealth Group LLC now owns 10,188 shares of the company’s stock worth $75,000 after acquiring an additional 1,041 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Rocket Companies by 16.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,037 shares of the company’s stock worth $67,000 after purchasing an additional 1,244 shares in the last quarter. FMR LLC raised its position in shares of Rocket Companies by 134.7% during the 2nd quarter. FMR LLC now owns 3,598 shares of the company’s stock worth $26,000 after purchasing an additional 2,065 shares during the last quarter. Chiron Capital Management LLC lifted its stake in Rocket Companies by 14.5% in the 2nd quarter. Chiron Capital Management LLC now owns 18,215 shares of the company’s stock valued at $134,000 after buying an additional 2,300 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Rocket Companies by 178.2% in the 2nd quarter. Captrust Financial Advisors now owns 4,451 shares of the company’s stock worth $33,000 after buying an additional 2,851 shares during the last quarter. Hedge funds and other institutional investors own 3.99% of the company’s stock.

Rocket Companies Stock Performance

NYSE:RKT opened at $8.57 on Friday. The company’s 50-day moving average is $7.83 and its two-hundred day moving average is $7.98. Rocket Companies, Inc. has a 1-year low of $5.97 and a 1-year high of $14.31. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.69 and a quick ratio of 11.69. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of 10.99 and a beta of 1.84.

Rocket Companies (NYSE:RKTGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Rocket Companies had a net margin of 1.41% and a return on equity of 5.21%. Analysts forecast that Rocket Companies, Inc. will post -0.16 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Rocket Companies from $7.00 to $8.00 in a report on Tuesday, January 10th. Barclays raised their price objective on Rocket Companies from $4.50 to $6.00 in a report on Friday, January 6th. Morgan Stanley dropped their target price on shares of Rocket Companies from $7.00 to $6.50 and set an “equal weight” rating for the company in a report on Friday, November 4th. Piper Sandler decreased their price target on shares of Rocket Companies from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, September 30th. Finally, The Goldman Sachs Group dropped their price objective on shares of Rocket Companies from $7.25 to $6.50 and set a “neutral” rating for the company in a research note on Monday, November 7th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.96.

Insider Buying and Selling at Rocket Companies

In other Rocket Companies news, CEO Jay Farner acquired 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was purchased at an average cost of $8.00 per share, with a total value of $200,000.00. Following the transaction, the chief executive officer now owns 5,914,807 shares of the company’s stock, valued at $47,318,456. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have acquired 503,700 shares of company stock worth $3,626,721 over the last quarter. 94.01% of the stock is currently owned by company insiders.

Rocket Companies Profile

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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; 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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