Titleist Asset Management LLC Sells 177,541 Shares of Rocket Companies, Inc. $RKT

Titleist Asset Management LLC reduced its holdings in shares of Rocket Companies, Inc. (NYSE:RKTFree Report) by 62.9% in the third quarter, Holdings Channel.com reports. The fund owned 104,674 shares of the company’s stock after selling 177,541 shares during the quarter. Titleist Asset Management LLC’s holdings in Rocket Companies were worth $2,029,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RKT. PNC Financial Services Group Inc. lifted its position in shares of Rocket Companies by 18.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,890 shares of the company’s stock worth $55,000 after purchasing an additional 605 shares during the last quarter. Miller Wealth Advisors LLC lifted its holdings in Rocket Companies by 65.0% during the 3rd quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock valued at $32,000 after buying an additional 650 shares in the last quarter. Amundi boosted its position in Rocket Companies by 2.3% in the 2nd quarter. Amundi now owns 34,170 shares of the company’s stock valued at $498,000 after buying an additional 754 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Rocket Companies by 23.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,339 shares of the company’s stock valued at $62,000 after buying an additional 816 shares during the period. Finally, Cranbrook Wealth Management LLC grew its stake in Rocket Companies by 11.6% in the 3rd quarter. Cranbrook Wealth Management LLC now owns 9,644 shares of the company’s stock worth $187,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Insider Activity

In related news, Director Matthew Rizik sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $19.44, for a total transaction of $48,600.00. Following the completion of the transaction, the director owned 1,066,036 shares in the company, valued at $20,723,739.84. The trade was a 0.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 40,000 shares of company stock valued at $779,425. 92.64% of the stock is owned by insiders.

Key Rocket Companies News

Here are the key news stories impacting Rocket Companies this week:

Rocket Companies Price Performance

Shares of RKT stock opened at $19.98 on Thursday. The stock’s 50-day moving average is $20.26 and its 200 day moving average is $18.67. Rocket Companies, Inc. has a 1-year low of $10.94 and a 1-year high of $24.36. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 19.68. The company has a market cap of $42.05 billion, a P/E ratio of 249.78 and a beta of 2.31.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RKT shares. UBS Group set a $17.00 price target on Rocket Companies and gave the company a “neutral” rating in a report on Friday, October 10th. Zacks Research upgraded Rocket Companies from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Keefe, Bruyette & Woods raised their price target on Rocket Companies from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. Jefferies Financial Group assumed coverage on Rocket Companies in a report on Friday, December 19th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, BTIG Research reiterated a “buy” rating and set a $25.00 target price on shares of Rocket Companies in a report on Wednesday, November 19th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.50.

View Our Latest Stock Report on Rocket Companies

Rocket Companies Company Profile

(Free Report)

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.

Read More

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

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