Citigroup Inc. Reduces Holdings in Rocket Companies, Inc. (NYSE:RKT)

Citigroup Inc. reduced its holdings in shares of Rocket Companies, Inc. (NYSE:RKTFree Report) by 27.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,186 shares of the company’s stock after selling 2,722 shares during the period. Citigroup Inc.’s holdings in Rocket Companies were worth $59,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ancora Advisors LLC purchased a new stake in shares of Rocket Companies in the 1st quarter worth $81,000. FMR LLC raised its stake in shares of Rocket Companies by 134.7% in the second quarter. FMR LLC now owns 3,598 shares of the company’s stock worth $26,000 after buying an additional 2,065 shares during the period. Deutsche Bank AG lifted its position 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 valued at $27,000 after buying an additional 3,379 shares in the last quarter. US Bancorp DE grew its stake in shares of Rocket Companies by 341.4% during the 1st quarter. US Bancorp DE now owns 4,414 shares of the company’s stock valued at $49,000 after acquiring an additional 3,414 shares during the period. Finally, Captrust Financial Advisors increased its holdings in Rocket Companies by 178.2% in 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. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Price Performance

Rocket Companies stock opened at $13.86 on Tuesday. The firm has a market capitalization of $27.52 billion, a PE ratio of -86.63, a price-to-earnings-growth ratio of 11.80 and a beta of 2.41. Rocket Companies, Inc. has a 12-month low of $7.17 and a 12-month high of $15.19. The firm has a 50-day moving average price of $12.42 and a 200-day moving average price of $10.88. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 0.92.

Rocket Companies (NYSE:RKTGet Free Report) last announced its earnings results on Thursday, February 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Rocket Companies had a negative net margin of 0.41% and a negative return on equity of 3.63%. The business had revenue of $885.00 million for the quarter, compared to analysts’ expectations of $762.44 million. During the same quarter last year, the firm earned ($0.12) EPS. The firm’s quarterly revenue was up 29.6% on a year-over-year basis. As a group, equities research analysts forecast that Rocket Companies, Inc. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

RKT has been the topic of several analyst reports. Bank of America lifted their price target on shares of Rocket Companies from $7.00 to $8.00 and gave the company an “underperform” rating in a report on Monday, March 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of Rocket Companies in a report on Wednesday, January 10th. They issued a “hold” rating and a $10.00 target price for the company. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $10.75 price target on shares of Rocket Companies in a report on Wednesday, January 3rd. Wedbush reissued a “neutral” rating and issued a $13.00 target price on shares of Rocket Companies in a report on Friday, February 23rd. Finally, Wells Fargo & Company lowered their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, February 23rd. Six equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.02.

View Our Latest Stock Report on RKT

Rocket Companies Company Profile

(Free Report)

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; and Rocket Loans, an online-based personal loans business.

Further Reading

Institutional Ownership by Quarter for Rocket Companies (NYSE:RKT)

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