Cwm LLC Cuts Stake in Rocket Companies, Inc. (NYSE:RKT)

Cwm LLC reduced its stake in Rocket Companies, Inc. (NYSE:RKT) by 22.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,656 shares of the company’s stock after selling 1,037 shares during the period. Cwm LLC’s holdings in Rocket Companies were worth $53,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RKT. Boston Partners purchased a new position in shares of Rocket Companies in the 3rd quarter worth about $47,544,000. QRG Capital Management Inc. bought a new stake in Rocket Companies in the 3rd quarter valued at about $5,195,000. Integrated Investment Consultants LLC raised its stake in Rocket Companies by 1,069.0% in the 4th quarter. Integrated Investment Consultants LLC now owns 650,598 shares of the company’s stock valued at $9,421,000 after acquiring an additional 594,945 shares during the period. Quantbot Technologies LP raised its stake in Rocket Companies by 1,515.5% in the 3rd quarter. Quantbot Technologies LP now owns 170,504 shares of the company’s stock valued at $1,395,000 after acquiring an additional 159,950 shares during the period. Finally, Raymond James & Associates raised its stake in Rocket Companies by 623.2% in the 3rd quarter. Raymond James & Associates now owns 161,994 shares of the company’s stock valued at $1,325,000 after acquiring an additional 139,593 shares during the period. 4.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RKT shares. UBS Group boosted their price objective on Rocket Companies from $8.50 to $10.00 and gave the company a “sell” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. upped their price target on Rocket Companies from $10.50 to $11.00 and gave the company an “underweight” rating in a research report on Friday, May 3rd. Wells Fargo & Company decreased their price target on Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, February 23rd. Wedbush reiterated a “neutral” rating and set a $13.00 price target on shares of Rocket Companies in a research report on Friday, May 3rd. Finally, Citigroup upped their price target on Rocket Companies from $10.00 to $11.00 and gave the company a “sell” rating in a research report on Wednesday, February 28th. Six equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.60.

Rocket Companies Stock Performance

Shares of NYSE RKT opened at $14.09 on Friday. The firm has a fifty day moving average price of $12.87 and a 200-day moving average price of $11.71. The company has a debt-to-equity ratio of 1.20, a current ratio of 12.83 and a quick ratio of 9.78. The stock has a market cap of $27.98 billion, a PE ratio of 128.09, a price-to-earnings-growth ratio of 10.36 and a beta of 2.43. 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 earnings results on Thursday, February 22nd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 net margin of 0.43% and a negative return on equity of 1.05%. The business’s revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) earnings per share. Equities analysts anticipate that Rocket Companies, Inc. will post 0.26 earnings per share for the current fiscal year.

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