Barclays PLC increased its stake in Rocket Companies, Inc. (NYSE:RKT – Get Rating) by 70.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 363,057 shares of the company's stock after purchasing an additional 150,124 shares during the quarter. Barclays PLC's holdings in Rocket Companies were worth $2,294,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Bruni J V & Co. Co. grew its position in shares of Rocket Companies by 0.4% in the third quarter. Bruni J V & Co. Co. now owns 1,656,808 shares of the company's stock valued at $10,471,000 after purchasing an additional 6,668 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of Rocket Companies in the third quarter valued at $171,000. Kingfisher Capital LLC grew its position in Rocket Companies by 9.5% during the third quarter. Kingfisher Capital LLC now owns 134,593 shares of the company's stock worth $851,000 after buying an additional 11,664 shares in the last quarter. Zweig DiMenna Associates LLC purchased a new position in Rocket Companies during the third quarter worth about $1,358,000. Finally, DMG Group LLC purchased a new position in Rocket Companies during the third quarter worth about $72,000. 3.99% of the stock is currently owned by hedge funds and other institutional investors.
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Insiders Place Their Bets
In other news, CEO Jay Farner bought 23,600 shares of Rocket Companies stock in a transaction on Tuesday, November 15th. The shares were purchased at an average price of $8.49 per share, for a total transaction of $200,364.00. Following the acquisition, the chief executive officer now owns 5,388,707 shares of the company's stock, valued at $45,750,122.43. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have bought 302,800 shares of company stock worth $2,299,709. Company insiders own 94.01% of the company's stock.
Rocket Companies Trading Up 10.8 %
RKT opened at $10.78 on Friday. The business has a 50 day simple moving average of $8.15 and a two-hundred day simple moving average of $8.04. The firm has a market capitalization of $21.24 billion, a price-to-earnings ratio of 13.82 and a beta of 2.02. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.69 and a quick ratio of 11.69. Rocket Companies, Inc. has a one year low of $5.97 and a one year high of $14.31.
Rocket Companies (NYSE:RKT – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). Rocket Companies had a return on equity of 5.21% and a net margin of 1.41%. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.09 billion. Analysts predict that Rocket Companies, Inc. will post -0.16 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. Morgan Stanley reduced their target price on Rocket Companies from $7.00 to $6.50 and set an "equal weight" rating for the company in a research report on Friday, November 4th. Argus lowered Rocket Companies from a "hold" rating to a "sell" rating in a research note on Wednesday, November 16th. Wells Fargo & Company lifted their price target on Rocket Companies from $7.00 to $10.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 6th. Credit Suisse Group lowered Rocket Companies from a "neutral" rating to an "underperform" rating and set a $7.00 target price for the company. in a research note on Monday, January 9th. Finally, JPMorgan Chase & Co. boosted their target price on Rocket Companies from $7.00 to $8.00 in a research note on Tuesday, January 10th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Rocket Companies has a consensus rating of "Hold" and an average target price of $7.96.
Rocket Companies Profile
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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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.
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