SeaCrest Wealth Management LLC bought a new stake in Rocket Companies, Inc. (NYSE:RKT – Get Rating) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,711 shares of the company’s stock, valued at approximately $57,000.
Several other institutional investors also recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its position in Rocket Companies by 10.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 99,762 shares of the company’s stock valued at $734,000 after purchasing an additional 9,811 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Rocket Companies by 11.9% during the second quarter. Oppenheimer & Co. Inc. now owns 69,490 shares of the company’s stock valued at $511,000 after acquiring an additional 7,390 shares during the period. Bruni J V & Co. Co. boosted its holdings in shares of Rocket Companies by 42.6% during the second quarter. Bruni J V & Co. Co. now owns 1,650,140 shares of the company’s stock valued at $12,145,000 after acquiring an additional 492,836 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Rocket Companies by 16.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,037 shares of the company’s stock worth $67,000 after acquiring an additional 1,244 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Rocket Companies by 19.2% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,094 shares of the company’s stock worth $155,000 after acquiring an additional 3,405 shares during the period. 4.16% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, CEO Jay Farner purchased 32,100 shares of Rocket Companies stock in a transaction on Friday, October 21st. The stock was bought at an average price of $6.23 per share, with a total value of $199,983.00. Following the completion of the transaction, the chief executive officer now directly owns 4,892,907 shares of the company’s stock, valued at $30,482,810.61. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought a total of 1,056,800 shares of company stock valued at $7,509,862 in the last three months. Insiders own 94.01% of the company’s stock.
Rocket Companies Stock Down 0.8 %
Wall Street Analyst Weigh In
Several research analysts have commented on RKT shares. The Goldman Sachs Group decreased their target price on shares of Rocket Companies from $7.25 to $6.50 and set a “neutral” rating for the company in a research report on Monday, November 7th. Keefe, Bruyette & Woods downgraded Rocket Companies from a “market perform” rating to an “underperform” rating and set a $6.50 target price on the stock. in a research note on Sunday, August 7th. Wells Fargo & Company decreased their price target on Rocket Companies from $10.00 to $7.00 and set an “overweight” rating for the company in a research note on Friday, November 4th. Morgan Stanley cut their price objective on shares of Rocket Companies from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Friday, November 4th. Finally, Citigroup increased their target price on shares of Rocket Companies to $10.00 in a research report on Tuesday, August 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.63.
Rocket Companies Profile
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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