Dimensional Fund Advisors LP Trims Holdings in Rocket Companies, Inc. (NYSE:RKT)

Dimensional Fund Advisors LP lessened its stake in Rocket Companies, Inc. (NYSE:RKT) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 235,660 shares of the company’s stock after selling 6,552 shares during the period. Dimensional Fund Advisors LP’s holdings in Rocket Companies were worth $3,229,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank grew its holdings in Rocket Companies by 4.1% during the 1st quarter. Swiss National Bank now owns 237,000 shares of the company’s stock worth $3,448,000 after acquiring an additional 9,300 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Rocket Companies in the first quarter valued at about $2,698,000. Vanguard Group Inc. increased its holdings in Rocket Companies by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock valued at $169,457,000 after buying an additional 1,101,325 shares during the last quarter. Wedmont Private Capital bought a new position in Rocket Companies during the 1st quarter worth approximately $154,000. Finally, Boston Partners lifted its holdings in Rocket Companies by 4.2% during the 1st quarter. Boston Partners now owns 9,382,173 shares of the company’s stock worth $136,462,000 after buying an additional 381,841 shares during the last quarter. 4.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Royal Bank of Canada upped their price target on Rocket Companies from $16.00 to $20.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 11th. Wedbush boosted their target price on shares of Rocket Companies from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods raised shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a report on Monday. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, Rocket Companies presently has an average rating of “Hold” and an average price target of $14.89.

Rocket Companies Price Performance

NYSE RKT opened at $17.55 on Friday. The company has a 50-day moving average price of $18.94 and a two-hundred day moving average price of $15.62. Rocket Companies, Inc. has a 52 week low of $7.17 and a 52 week high of $21.38. The stock has a market cap of $34.90 billion, a price-to-earnings ratio of 159.51 and a beta of 2.44. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.22 billion. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS. Analysts forecast that Rocket Companies, Inc. will post 0.22 EPS for the current year.

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.