Raymond James & Associates Boosts Holdings in Rocket Companies, Inc. (NYSE:RKT)

Raymond James & Associates raised its holdings in Rocket Companies, Inc. (NYSE:RKT) by 12.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,401 shares of the company’s stock after purchasing an additional 2,416 shares during the quarter. Raymond James & Associates’ holdings in Rocket Companies were worth $201,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RKT. FMR LLC boosted its holdings in Rocket Companies by 134.7% in the second quarter. FMR LLC now owns 3,598 shares of the company’s stock valued at $26,000 after purchasing an additional 2,065 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Rocket Companies by 658.7% during the 4th quarter. Deutsche Bank AG now owns 3,892 shares of the company’s stock worth $27,000 after acquiring an additional 3,379 shares in the last quarter. S.A. Mason LLC purchased a new stake in shares of Rocket Companies during the 1st quarter worth about $32,000. Captrust Financial Advisors boosted its stake in shares of Rocket Companies by 178.2% during the 2nd quarter. Captrust Financial Advisors now owns 4,451 shares of the company’s stock worth $33,000 after acquiring an additional 2,851 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of Rocket Companies during the 4th quarter worth about $35,000. 4.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jonathan D. Mariner sold 12,500 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $10.32, for a total value of $129,000.00. Following the completion of the sale, the director now directly owns 55,250 shares of the company’s stock, valued at $570,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 94.05% of the company’s stock.

Rocket Companies Price Performance

Shares of NYSE:RKT opened at $8.33 on Monday. The company has a 50-day simple moving average of $8.39 and a 200-day simple moving average of $9.09. Rocket Companies, Inc. has a one year low of $6.63 and a one year high of $11.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 12.24 and a current ratio of 11.15. The stock has a market capitalization of $16.47 billion, a price-to-earnings ratio of -39.67 and a beta of 2.20.

Analyst Ratings Changes

Several research firms have recently issued reports on RKT. Citigroup increased their target price on shares of Rocket Companies from $9.00 to $11.00 in a research note on Friday, August 4th. UBS Group increased their target price on shares of Rocket Companies from $8.50 to $10.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 30th. Piper Sandler increased their target price on shares of Rocket Companies from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 15th. Wedbush lowered their target price on shares of Rocket Companies from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Rocket Companies from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Rocket Companies currently has an average rating of “Hold” and an average target price of $8.98.

Rocket Companies 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.