Transcend Capital Advisors LLC Purchases Shares of 11,500 Rocket Companies, Inc. (NYSE:RKT)

Transcend Capital Advisors LLC purchased a new stake in Rocket Companies, Inc. (NYSE:RKTGet Rating) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 11,500 shares of the company’s stock, valued at approximately $85,000.

Several other large investors have also recently bought and sold shares of the stock. Amalgamated Bank raised its holdings in Rocket Companies by 28.1% in the 1st quarter. Amalgamated Bank now owns 15,673 shares of the company’s stock valued at $174,000 after acquiring an additional 3,435 shares during the period. Advisory Services Network LLC bought a new position in shares of Rocket Companies during the first quarter worth approximately $120,000. Wealthfront Advisers LLC bought a new position in shares of Rocket Companies during the first quarter worth approximately $916,000. Advisors Asset Management Inc. increased its holdings in shares of Rocket Companies by 11.7% during the first quarter. Advisors Asset Management Inc. now owns 89,951 shares of the company’s stock worth $1,000,000 after purchasing an additional 9,445 shares during the period. Finally, Point72 Hong Kong Ltd increased its holdings in shares of Rocket Companies by 84.6% during the first quarter. Point72 Hong Kong Ltd now owns 12,460 shares of the company’s stock worth $139,000 after purchasing an additional 5,709 shares during the period. 4.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RKT has been the topic of several recent research reports. Citigroup raised their target price on shares of Rocket Companies to $10.00 in a report on Tuesday, August 9th. Wells Fargo & Company raised shares of Rocket Companies from an “equal weight” rating to an “overweight” rating and set a $10.00 target price on the stock in a report on Wednesday, July 6th. Keefe, Bruyette & Woods cut shares of Rocket Companies from a “market perform” rating to an “underperform” rating and set a $6.50 target price on the stock. in a report on Sunday, August 7th. Argus lowered shares of Rocket Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. Finally, Barclays reduced their price target on shares of Rocket Companies to $7.00 in a research report on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.88.

Insider Buying and Selling at Rocket Companies

In other Rocket Companies news, CEO Jay Farner purchased 25,800 shares of the company’s stock in a transaction dated Monday, June 27th. The stock was purchased at an average price of $7.73 per share, with a total value of $199,434.00. Following the completion of the purchase, the chief executive officer now owns 2,878,107 shares of the company’s stock, valued at $22,247,767.11. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have purchased 791,800 shares of company stock worth $6,839,627 over the last quarter. Corporate insiders own 94.01% of the company’s stock.

Rocket Companies Stock Performance

Shares of Rocket Companies stock opened at $7.13 on Friday. Rocket Companies, Inc. has a fifty-two week low of $6.27 and a fifty-two week high of $18.13. The company has a debt-to-equity ratio of 1.46, a current ratio of 14.97 and a quick ratio of 14.97. The firm has a market capitalization of $14.05 billion, a P/E ratio of 5.57, a P/E/G ratio of 56.62 and a beta of 1.76. The company’s 50 day moving average price is $8.96 and its two-hundred day moving average price is $9.03.

Rocket Companies (NYSE:RKTGet Rating) last issued its earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). Rocket Companies had a net margin of 1.85% and a return on equity of 19.79%. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business earned $0.44 EPS. The business’s quarterly revenue was down 47.8% on a year-over-year basis. On average, equities analysts forecast that Rocket Companies, Inc. will post 0.03 earnings per share for the current fiscal year.

About Rocket Companies

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Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and e-Commerce businesses 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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Institutional Ownership by Quarter for Rocket Companies (NYSE:RKT)

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