Quadrature Capital Ltd Buys Shares of 33,869 Rocket Companies, Inc. (NYSE:RKT)

Quadrature Capital Ltd bought a new stake in shares of Rocket Companies, Inc. (NYSE:RKT – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 33,869 shares of the company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Grantham Mayo Van Otterloo & Co. LLC boosted its position in Rocket Companies by 7.2% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 23,700 shares of the company’s stock valued at $150,000 after acquiring an additional 1,600 shares in the last quarter. FMR LLC boosted its position in Rocket Companies by 134.7% during the 2nd quarter. FMR LLC now owns 3,598 shares of the company’s stock valued at $26,000 after acquiring an additional 2,065 shares in the last quarter. Captrust Financial Advisors boosted its position in Rocket Companies by 178.2% during the 2nd quarter. Captrust Financial Advisors now owns 4,451 shares of the company’s stock valued at $33,000 after acquiring an additional 2,851 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Rocket Companies by 10.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 33,191 shares of the company’s stock valued at $244,000 after acquiring an additional 3,226 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Rocket Companies by 3.8% during the 2nd quarter. Sei Investments Co. now owns 89,768 shares of the company’s stock valued at $567,000 after acquiring an additional 3,301 shares in the last quarter. Institutional investors own 3.99% of the company’s stock.

Insider Buying and Selling at Rocket Companies

In related news, CEO Jay Farner acquired 25,000 shares of Rocket Companies stock in a transaction on Thursday, December 15th. The stock was acquired at an average price of $8.00 per share, for a total transaction of $200,000.00. Following the purchase, the chief executive officer now owns 5,914,807 shares of the company’s stock, valued at approximately $47,318,456. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders purchased 36,200 shares of company stock worth $286,156. Insiders own 94.01% of the company’s stock.

Rocket Companies Stock Performance

NYSE RKT opened at $8.66 on Tuesday. The stock has a 50-day simple moving average of $8.61 and a two-hundred day simple moving average of $7.79. The firm has a market capitalization of $17.09 billion, a P/E ratio of 27.06 and a beta of 2.05. Rocket Companies, Inc. has a fifty-two week low of $5.97 and a fifty-two week high of $11.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 10.67 and a current ratio of 10.67.

Analysts Set New Price Targets

RKT has been the subject of several analyst reports. Barclays increased their price objective on Rocket Companies from $4.50 to $6.00 in a report on Friday, January 6th. JPMorgan Chase & Co. increased their price objective on Rocket Companies from $7.00 to $8.00 in a report on Tuesday, January 10th. UBS Group set a $8.00 price objective on Rocket Companies in a report on Wednesday, November 23rd. Argus lowered Rocket Companies from a “hold” rating to a “sell” rating in a report on Wednesday, November 16th. Finally, Citigroup increased their price objective on Rocket Companies from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, March 1st. Three equities 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.67.

About Rocket Companies

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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.