Cubist Systematic Strategies LLC Acquires 39,632 Shares of Rocket Companies, Inc. (NYSE:RKT)

Cubist Systematic Strategies LLC lifted its position in Rocket Companies, Inc. (NYSE:RKT – Get Rating) by 44.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 128,220 shares of the company’s stock after acquiring an additional 39,632 shares during the period. Cubist Systematic Strategies LLC’s holdings in Rocket Companies were worth $810,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Rocket Companies in the 3rd quarter worth approximately $102,000. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Rocket Companies by 321.3% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,803 shares of the company’s stock worth $146,000 after acquiring an additional 15,103 shares in the last quarter. Boston Partners bought a new position in shares of Rocket Companies in the 3rd quarter worth approximately $28,000. Cranbrook Wealth Management LLC bought a new position in shares of Rocket Companies in the 3rd quarter worth approximately $63,000. Finally, ValueAct Holdings L.P. bought a new position in shares of Rocket Companies in the 2nd quarter worth approximately $14,720,000. Institutional investors own 3.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on RKT shares. UBS Group set a $8.00 target price on Rocket Companies in a research report on Wednesday, November 23rd. Argus downgraded Rocket Companies from a “hold” rating to a “sell” rating in a research note on Wednesday, November 16th. Barclays upped their price target on Rocket Companies from $4.50 to $6.00 in a research note on Friday, January 6th. Wells Fargo & Company upped 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. Finally, JPMorgan Chase & Co. upped their price target on Rocket Companies from $7.00 to $8.00 in a research note on Tuesday, January 10th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.67.

Insider Transactions at Rocket Companies

In other news, CEO Jay Farner purchased 25,000 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $200,000.00. Following the purchase, the chief executive officer now directly owns 5,914,807 shares in the company, valued at approximately $47,318,456. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 36,200 shares of company stock worth $286,156 in the last ninety days. Insiders own 94.01% of the company’s stock.

Rocket Companies Stock Performance

Shares of RKT opened at $8.29 on Friday. The business’s fifty day simple moving average is $8.56 and its two-hundred day simple moving average is $7.82. The company has a current ratio of 10.67, a quick ratio of 10.67 and a debt-to-equity ratio of 0.97. Rocket Companies, Inc. has a 12 month low of $5.97 and a 12 month high of $11.80. The company has a market cap of $16.34 billion, a price-to-earnings ratio of 25.91 and a beta of 2.05.

About Rocket Companies

(Get Rating)

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.