Rocket Companies, Inc. (NYSE:RKT) Shares Sold by Swiss National Bank

Swiss National Bank decreased its position in Rocket Companies, Inc. (NYSE:RKT) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 262,800 shares of the company’s stock after selling 18,300 shares during the quarter. Swiss National Bank’s holdings in Rocket Companies were worth $2,381,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System grew its position in shares of Rocket Companies by 1.0% in the 1st quarter. California State Teachers Retirement System now owns 241,299 shares of the company’s stock worth $2,186,000 after acquiring an additional 2,412 shares in the last quarter. Brooktree Capital Management boosted its position in Rocket Companies by 46.0% during the 1st quarter. Brooktree Capital Management now owns 132,625 shares of the company’s stock valued at $1,202,000 after purchasing an additional 41,770 shares during the period. Federated Hermes Inc. boosted its position in Rocket Companies by 5.3% during the 1st quarter. Federated Hermes Inc. now owns 810,557 shares of the company’s stock valued at $7,344,000 after purchasing an additional 40,664 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Rocket Companies by 42.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,884 shares of the company’s stock valued at $189,000 after purchasing an additional 6,216 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Rocket Companies by 7.9% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,219 shares of the company’s stock valued at $192,000 after purchasing an additional 1,551 shares during the period. Institutional investors and hedge funds own 4.09% of the company’s stock.

Rocket Companies Stock Down 2.8 %

NYSE:RKT opened at $10.23 on Wednesday. The firm has a market capitalization of $20.23 billion, a price-to-earnings ratio of -48.71 and a beta of 2.13. Rocket Companies, Inc. has a 1-year low of $5.97 and a 1-year high of $11.94. The company has a current ratio of 12.24, a quick ratio of 12.24 and a debt-to-equity ratio of 1.11. The business’s fifty day moving average price is $10.36 and its 200 day moving average price is $9.22.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $983.18 million. Rocket Companies had a negative return on equity of 8.21% and a negative net margin of 0.59%. On average, sell-side analysts forecast that Rocket Companies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler boosted their price objective on Rocket Companies from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, August 15th. Argus upgraded Rocket Companies from a “sell” rating to a “hold” rating in a research report on Monday, May 22nd. Citigroup boosted their price objective on Rocket Companies from $9.00 to $11.00 in a research report on Friday, August 4th. UBS Group boosted their price target on Rocket Companies from $8.50 to $10.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 30th. Finally, The Goldman Sachs Group boosted their price target on Rocket Companies from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.59.

Insiders Place Their Bets

In other Rocket Companies news, Director Jonathan D. Mariner sold 12,500 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $10.32, for a total value of $129,000.00. Following the transaction, the director now directly owns 55,250 shares of the company’s stock, valued at approximately $570,180. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 94.05% of the company’s stock.

Rocket Companies Company Profile

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, a virtual marketplace where consumers can shop and compare vehicles of many makes and models from a wide network of dealers; and Rocket Loans, an online-based personal loans business.