Treasurer of the State of North Carolina Has $345,000 Stake in Rocket Companies, Inc. (NYSE:RKT)

Treasurer of the State of North Carolina lowered its holdings in Rocket Companies, Inc. (NYSE:RKT – Get Rating) by 82.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,240 shares of the company’s stock after selling 224,285 shares during the period. Treasurer of the State of North Carolina’s holdings in Rocket Companies were worth $345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. HighTower Advisors LLC lifted its position in shares of Rocket Companies by 11.9% during the 4th quarter. HighTower Advisors LLC now owns 62,346 shares of the company’s stock valued at $437,000 after acquiring an additional 6,626 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in Rocket Companies by 87.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 730,663 shares of the company’s stock valued at $5,115,000 after acquiring an additional 340,646 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Rocket Companies by 1.7% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 101,907 shares of the company’s stock valued at $713,000 after purchasing an additional 1,700 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Rocket Companies during the fourth quarter worth $118,000. Finally, Brooktree Capital Management boosted its holdings in shares of Rocket Companies by 3.7% in the 4th quarter. Brooktree Capital Management now owns 90,855 shares of the company’s stock valued at $636,000 after purchasing an additional 3,257 shares in the last quarter. Institutional investors and hedge funds own 3.99% of the company’s stock.

Wall Street Analyst Weigh In

RKT has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their price target on Rocket Companies from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, March 2nd. Citigroup increased their price objective on shares of Rocket Companies from $8.00 to $9.00 in a research note on Friday, May 5th. Piper Sandler boosted their target price on shares of Rocket Companies from $7.50 to $8.00 in a research note on Monday, May 8th. JPMorgan Chase & Co. increased their price target on Rocket Companies from $8.00 to $9.50 and gave the company a “neutral” rating in a research note on Monday, April 17th. Finally, Credit Suisse Group restated an “underperform” rating and set a $7.00 price objective on shares of Rocket Companies in a research report on Thursday, March 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Rocket Companies currently has a consensus rating of “Hold” and a consensus price target of $7.85.

Rocket Companies Price Performance

RKT opened at $8.16 on Monday. The company has a current ratio of 12.65, a quick ratio of 12.65 and a debt-to-equity ratio of 1.19. The company has a fifty day moving average of $8.73 and a 200-day moving average of $8.35. Rocket Companies, Inc. has a twelve month low of $5.97 and a twelve month high of $11.38.

Rocket Companies (NYSE:RKT – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Rocket Companies had a negative return on equity of 8.63% and a negative net margin of 0.67%. The company had revenue of $480.79 million for the quarter, compared to the consensus estimate of $682.67 million. Analysts predict that Rocket Companies, Inc. will post -0.16 earnings per share for the current fiscal year.

About Rocket Companies

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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.