Y Intercept Hong Kong Ltd Has $2.52 Million Position in Rocket Companies, Inc. $RKT

Y Intercept Hong Kong Ltd grew its holdings in Rocket Companies, Inc. (NYSE:RKT) by 141.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 129,872 shares of the company’s stock after buying an additional 76,106 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Rocket Companies were worth $2,517,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in RKT. Allspring Global Investments Holdings LLC acquired a new position in shares of Rocket Companies in the 2nd quarter valued at $44,102,000. Udine Wealth Management Inc. lifted its position in Rocket Companies by 86.1% during the 3rd quarter. Udine Wealth Management Inc. now owns 168,070 shares of the company’s stock worth $3,257,000 after buying an additional 77,736 shares in the last quarter. Clifford Capital Partners LLC bought a new position in Rocket Companies in the second quarter valued at approximately $11,487,000. Thames Capital Management LLC boosted its position in Rocket Companies by 54.3% during the third quarter. Thames Capital Management LLC now owns 1,106,003 shares of the company’s stock worth $21,434,000 after purchasing an additional 389,101 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Rocket Companies by 1,330.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 197,393 shares of the company’s stock worth $2,799,000 after buying an additional 183,593 shares during the last quarter. 4.59% of the stock is owned by institutional investors.

Insider Buying and Selling at Rocket Companies

In related news, Director Matthew Rizik sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $22.99, for a total value of $57,475.00. Following the transaction, the director directly owned 1,038,536 shares in the company, valued at approximately $23,875,942.64. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 40,000 shares of company stock valued at $779,425. Company insiders own 92.64% of the company’s stock.

Rocket Companies Stock Performance

Shares of RKT stock traded down $0.08 on Wednesday, hitting $20.96. 908,226 shares of the stock were exchanged, compared to its average volume of 30,778,861. Rocket Companies, Inc. has a one year low of $10.94 and a one year high of $24.36. The firm’s 50 day moving average is $20.05 and its two-hundred day moving average is $18.46. The firm has a market capitalization of $44.10 billion, a PE ratio of 261.97 and a beta of 2.29. The company has a current ratio of 19.68, a quick ratio of 19.68 and a debt-to-equity ratio of 2.16.

Rocket Companies (NYSE:RKT) last posted its earnings results on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. The business’s revenue for the quarter was up 148.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 EPS. Sell-side analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RKT. Wall Street Zen cut shares of Rocket Companies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Rocket Companies in a report on Monday, October 13th. JPMorgan Chase & Co. assumed coverage on Rocket Companies in a report on Monday, January 12th. They set a “neutral” rating and a $24.00 price objective for the company. The Goldman Sachs Group restated a “neutral” rating and issued a $22.00 target price (up previously from $16.00) on shares of Rocket Companies in a research note on Wednesday, October 29th. Finally, BTIG Research reiterated a “buy” rating and set a $25.00 price target on shares of Rocket Companies in a report on Wednesday, November 19th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Rocket Companies currently has an average rating of “Hold” and a consensus target price of $20.50.

About Rocket Companies

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.