Strs Ohio Lowers Holdings in Rocket Companies, Inc. (NYSE:RKT)

Strs Ohio trimmed its holdings in Rocket Companies, Inc. (NYSE:RKT) by 41.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 66,228 shares of the company’s stock after selling 46,972 shares during the period. Strs Ohio’s holdings in Rocket Companies were worth $958,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in RKT. First Affirmative Financial Network boosted its stake in shares of Rocket Companies by 18.0% during the 4th quarter. First Affirmative Financial Network now owns 13,450 shares of the company’s stock worth $195,000 after acquiring an additional 2,052 shares in the last quarter. DMC Group LLC boosted its stake in shares of Rocket Companies by 11.7% during the 3rd quarter. DMC Group LLC now owns 21,145 shares of the company’s stock worth $173,000 after acquiring an additional 2,217 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of Rocket Companies during the 4th quarter worth about $37,000. First Eagle Investment Management LLC boosted its stake in shares of Rocket Companies by 12.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 35,149 shares of the company’s stock worth $288,000 after acquiring an additional 3,764 shares in the last quarter. Finally, Kingfisher Capital LLC boosted its stake in shares of Rocket Companies by 3.0% during the 3rd quarter. Kingfisher Capital LLC now owns 153,098 shares of the company’s stock worth $1,252,000 after acquiring an additional 4,478 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Stock Performance

Shares of NYSE RKT opened at $12.64 on Wednesday. The company has a 50 day simple moving average of $12.55 and a 200-day simple moving average of $11.35. The company has a debt-to-equity ratio of 0.92, a quick ratio of 9.78 and a current ratio of 9.78. Rocket Companies, Inc. has a 1 year low of $7.17 and a 1 year high of $15.19.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $885.00 million for the quarter, compared to analysts’ expectations of $762.44 million. Rocket Companies had a negative return on equity of 3.63% and a negative net margin of 0.41%. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) EPS. On average, analysts anticipate that Rocket Companies, Inc. will post 0.26 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on RKT. Citigroup increased their target price on shares of Rocket Companies from $10.00 to $11.00 and gave the stock a “sell” rating in a research note on Wednesday, February 28th. UBS Group upped their price target on shares of Rocket Companies from $8.50 to $10.00 and gave the stock a “sell” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price target (up previously from $8.50) on shares of Rocket Companies in a research report on Thursday, January 4th. Wedbush restated a “neutral” rating and set a $13.00 price target on shares of Rocket Companies in a research report on Friday, February 23rd. Finally, Bank of America increased their price objective 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. Six equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.02.

About Rocket Companies

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.