Charles Schwab Investment Management Inc. Has $10.38 Million Stock Holdings in Rocket Companies, Inc. (NYSE:RKT)

Charles Schwab Investment Management Inc. lifted its holdings in Rocket Companies, Inc. (NYSE:RKTFree Report) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 716,974 shares of the company’s stock after buying an additional 35,470 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Rocket Companies were worth $10,382,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Private Advisor Group LLC acquired a new stake in shares of Rocket Companies in the fourth quarter valued at about $317,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Rocket Companies by 39.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,153 shares of the company’s stock valued at $422,000 after purchasing an additional 8,269 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Rocket Companies in the fourth quarter valued at approximately $37,000. International Assets Investment Management LLC raised its stake in shares of Rocket Companies by 1,348.3% in the fourth quarter. International Assets Investment Management LLC now owns 34,889 shares of the company’s stock valued at $505,000 after acquiring an additional 32,480 shares during the last quarter. Finally, Nisa Investment Advisors LLC bought a new position in shares of Rocket Companies in the fourth quarter valued at approximately $886,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Rocket Companies from $10.50 to $11.00 and gave the stock an “underweight” rating in a research report on Friday, May 3rd. Wells Fargo & Company reduced their target price on shares of Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 23rd. Citigroup boosted their price target on shares of Rocket Companies from $10.00 to $11.00 and gave the stock a “sell” rating in a research report on Wednesday, February 28th. Piper Sandler boosted their price target on shares of Rocket Companies from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Finally, Royal Bank of Canada boosted their price target on shares of Rocket Companies from $12.00 to $14.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Six investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, Rocket Companies has an average rating of “Hold” and a consensus target price of $10.60.

View Our Latest Report on RKT

Rocket Companies Stock Up 1.8 %

Shares of RKT stock opened at $13.82 on Friday. The stock has a market cap of $27.48 billion, a price-to-earnings ratio of 125.65 and a beta of 2.43. The company has a debt-to-equity ratio of 1.20, a quick ratio of 12.83 and a current ratio of 12.83. Rocket Companies, Inc. has a 52-week low of $7.17 and a 52-week high of $15.60. The firm’s 50-day moving average is $13.32 and its 200-day moving average is $12.39.

Rocket Companies (NYSE:RKTGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.08. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.05%. Sell-side analysts predict that Rocket Companies, Inc. will post 0.24 EPS for the current year.

Rocket Companies Profile

(Free Report)

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.

Further Reading

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

Receive News & Ratings for Rocket Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Companies and related companies with MarketBeat.com's FREE daily email newsletter.