Rhumbline Advisers Lowers Position in Rocket Companies, Inc. (NYSE:RKT)

Rhumbline Advisers reduced its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,217 shares of the company’s stock after selling 3,310 shares during the quarter. Rhumbline Advisers’ holdings in Rocket Companies were worth $1,477,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in Rocket Companies during the third quarter worth approximately $39,000. KBC Group NV grew its stake in Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after buying an additional 2,226 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Rocket Companies by 14.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,566 shares of the company’s stock worth $433,000 after buying an additional 2,766 shares during the period. Virtu Financial LLC grew its stake in Rocket Companies by 22.1% during the third quarter. Virtu Financial LLC now owns 16,135 shares of the company’s stock worth $310,000 after buying an additional 2,925 shares during the period. Finally, Private Advisor Group LLC grew its stake in Rocket Companies by 26.8% during the third quarter. Private Advisor Group LLC now owns 14,798 shares of the company’s stock worth $284,000 after buying an additional 3,129 shares during the period. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 13th. Morgan Stanley reduced their target price on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group reduced their target price on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Barclays reduced their target price on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 13th. Finally, UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and an average target price of $13.83.

Rocket Companies Trading Down 4.2 %

RKT opened at $13.47 on Wednesday. The stock has a market capitalization of $26.88 billion, a PE ratio of -84.21 and a beta of 2.43. The firm’s fifty day moving average price is $12.16 and its 200 day moving average price is $15.05. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38.

Rocket Companies 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.