Public Employees Retirement Association of Colorado Has $217,000 Holdings in Rocket Companies, Inc. (NYSE:RKT)

Public Employees Retirement Association of Colorado cut its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 11.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,823 shares of the company’s stock after selling 2,017 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Rocket Companies were worth $217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RKT. Vima LLC purchased a new stake in shares of Rocket Companies in the 4th quarter valued at approximately $31,000. Blue Trust Inc. purchased a new stake in shares of Rocket Companies in the second quarter valued at $61,000. EntryPoint Capital LLC acquired a new stake in shares of Rocket Companies in the first quarter worth $77,000. Principal Financial Group Inc. purchased a new position in shares of Rocket Companies during the first quarter valued at $150,000. Finally, Wedmont Private Capital acquired a new position in Rocket Companies during the first quarter valued at $154,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Stock Performance

Shares of NYSE RKT opened at $18.93 on Friday. The business’s 50-day simple moving average is $18.52 and its 200-day simple moving average is $15.33. Rocket Companies, Inc. has a 52 week low of $7.17 and a 52 week high of $21.38. The company has a debt-to-equity ratio of 1.27, a quick ratio of 13.18 and a current ratio of 13.18. The firm has a market cap of $37.66 billion, a price-to-earnings ratio of 172.11 and a beta of 2.45.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts expect that Rocket Companies, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on RKT shares. Deutsche Bank Aktiengesellschaft lifted their target price on Rocket Companies from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods raised shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a research report on Monday, August 5th. Barclays increased their target price on shares of Rocket Companies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 9th. Wells Fargo & Company boosted their price target on shares of Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, UBS Group increased their price objective on Rocket Companies from $11.50 to $14.00 and gave the stock a “sell” rating in a report on Monday, September 16th. Five analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.73.

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.