Wealth Enhancement Advisory Services LLC Increases Position in Rocket Companies, Inc. (NYSE:RKT)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 14.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,566 shares of the company’s stock after acquiring an additional 2,766 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Rocket Companies were worth $433,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Blue Trust Inc. purchased a new stake in shares of Rocket Companies during the 2nd quarter valued at $61,000. Quarry LP increased its holdings in Rocket Companies by 858.8% during the second quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $60,000 after buying an additional 3,899 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Rocket Companies in the first quarter worth about $77,000. V Square Quantitative Management LLC purchased a new position in Rocket Companies in the third quarter valued at about $120,000. Finally, International Assets Investment Management LLC grew its position in shares of Rocket Companies by 3,429.7% during the 3rd quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock valued at $142,000 after acquiring an additional 7,168 shares during the period. 4.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RKT has been the topic of a number of research reports. Bank of America lifted their price target on shares of Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. 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. Deutsche Bank Aktiengesellschaft lifted their price objective on Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Barclays upped their price objective on shares of Rocket Companies from $10.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, October 8th. Finally, UBS Group lifted their target price on shares of Rocket Companies from $11.50 to $14.00 and gave the stock a “sell” rating in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, Rocket Companies has an average rating of “Hold” and an average price target of $15.15.

Rocket Companies Stock Performance

NYSE RKT opened at $15.87 on Friday. The company’s 50 day simple moving average is $18.06 and its two-hundred day simple moving average is $16.19. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18. Rocket Companies, Inc. has a 1 year low of $7.85 and a 1 year high of $21.38. The stock has a market capitalization of $31.57 billion, a PE ratio of 226.89 and a beta of 2.46.

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.