Wealthcare Advisory Partners LLC Has $151,000 Holdings in Rocket Companies, Inc. (NYSE:RKT)

Wealthcare Advisory Partners LLC cut its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 43.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,376 shares of the company’s stock after selling 8,076 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Rocket Companies were worth $151,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Atlas Capital Advisors LLC lifted its holdings in shares of Rocket Companies by 1,682.6% during the 1st quarter. Atlas Capital Advisors LLC now owns 17,844 shares of the company’s stock valued at $260,000 after buying an additional 16,843 shares during the last quarter. First Affirmative Financial Network lifted its holdings in shares of Rocket Companies by 6.1% during the 1st quarter. First Affirmative Financial Network now owns 14,272 shares of the company’s stock valued at $208,000 after buying an additional 822 shares during the last quarter. Wedmont Private Capital acquired a new stake in Rocket Companies in the 1st quarter worth approximately $154,000. Vanguard Group Inc. lifted its holdings in Rocket Companies by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after purchasing an additional 1,101,325 shares during the last quarter. Finally, Vima LLC acquired a new stake in Rocket Companies in the 4th quarter worth approximately $31,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Stock Performance

RKT opened at $13.16 on Tuesday. The stock has a market cap of $26.17 billion, a PE ratio of 119.65 and a beta of 2.43. The company has a current ratio of 12.83, a quick ratio of 12.83 and a debt-to-equity ratio of 1.20. Rocket Companies, Inc. has a 1 year low of $7.17 and a 1 year high of $15.81. The stock’s 50 day simple moving average is $13.84 and its 200-day simple moving average is $13.12.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Piper Sandler boosted their target price on Rocket Companies from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Bank of America boosted their target price on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, March 18th. Wedbush restated a “neutral” rating and issued a $13.00 target price on shares of Rocket Companies in a report on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on Rocket Companies from $10.50 to $11.00 and gave the stock an “underweight” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada boosted their target price on Rocket Companies from $12.00 to $14.00 and gave the stock a “sector perform” rating in a 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 company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.60.

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.