Rocket Companies, Inc. (NYSE:RKT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in Rocket Companies, Inc. (NYSE:RKT) by 2.4% during the third quarter, HoldingsChannel.com reports. The fund owned 44,023 shares of the company’s stock after selling 1,077 shares during the period. Victory Capital Management Inc.’s holdings in Rocket Companies were worth $706,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Rocket Companies by 24.8% during the second quarter. Vanguard Group Inc. now owns 7,957,350 shares of the company’s stock worth $153,974,000 after buying an additional 1,580,845 shares during the last quarter. Invesco Ltd. boosted its stake in Rocket Companies by 19.5% during the second quarter. Invesco Ltd. now owns 6,710,245 shares of the company’s stock worth $129,844,000 after buying an additional 1,093,106 shares during the last quarter. BlackRock Inc. boosted its stake in Rocket Companies by 17.5% during the second quarter. BlackRock Inc. now owns 5,380,699 shares of the company’s stock worth $104,116,000 after buying an additional 802,510 shares during the last quarter. State Street Corp boosted its stake in Rocket Companies by 16.4% during the second quarter. State Street Corp now owns 4,547,164 shares of the company’s stock worth $87,988,000 after buying an additional 641,331 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Rocket Companies by 51.2% during the second quarter. Geode Capital Management LLC now owns 1,558,520 shares of the company’s stock worth $30,157,000 after buying an additional 527,957 shares during the last quarter. 3.70% of the stock is currently owned by hedge funds and other institutional investors.

RKT stock opened at $13.42 on Friday. The company has a current ratio of 24.49, a quick ratio of 24.49 and a debt-to-equity ratio of 2.38. The company has a market capitalization of $26.63 billion, a PE ratio of 4.33, a P/E/G ratio of 0.99 and a beta of 1.66. Rocket Companies, Inc. has a 12-month low of $13.09 and a 12-month high of $43.00. The business’s fifty day moving average price is $15.36 and its 200 day moving average price is $16.57.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, November 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $2.96 billion. Rocket Companies had a return on equity of 70.94% and a net margin of 2.66%. The company’s quarterly revenue was down 33.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 EPS. Research analysts predict that Rocket Companies, Inc. will post 2.22 EPS for the current fiscal year.

RKT has been the topic of a number of recent research reports. Wedbush raised Rocket Companies from an “underperform” rating to a “neutral” rating and set a $14.00 price objective on the stock in a research note on Monday, January 3rd. They noted that the move was a valuation call. Wells Fargo & Company lowered their price objective on Rocket Companies from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 16th. Zacks Investment Research lowered Rocket Companies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 6th. Piper Sandler decreased their price target on Rocket Companies from $19.00 to $18.00 in a research note on Wednesday, January 5th. Finally, Royal Bank of Canada decreased their price target on Rocket Companies from $24.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Friday, October 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Rocket Companies currently has a consensus rating of “Hold” and a consensus price target of $18.73.

Rocket Companies Profile

Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and eCommerce businesses in the United States and Canada. It operates in 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, an automotive retail marketplace that provides centralized and virtual car sales support to national car rental and online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

Further Reading: Return On Assets

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

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