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

QRG Capital Management Inc. lowered its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 218,717 shares of the company’s stock after selling 10,922 shares during the period. QRG Capital Management Inc.’s holdings in Rocket Companies were worth $2,463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its position in Rocket Companies by 44.7% during the third quarter. State Street Corp now owns 4,108,189 shares of the company’s stock worth $78,836,000 after buying an additional 1,269,795 shares during the period. Geode Capital Management LLC grew its position in shares of Rocket Companies by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company’s stock worth $39,235,000 after acquiring an additional 12,735 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Rocket Companies by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company’s stock valued at $19,971,000 after acquiring an additional 72,308 shares during the period. Bank of New York Mellon Corp raised its position in Rocket Companies by 39.4% in the 4th quarter. Bank of New York Mellon Corp now owns 468,620 shares of the company’s stock valued at $5,277,000 after purchasing an additional 132,453 shares during the last quarter. Finally, Philip James Wealth Mangement LLC acquired a new stake in Rocket Companies during the 3rd quarter worth $6,811,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Trading Up 9.4 %

Shares of RKT stock opened at $14.04 on Friday. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The business’s fifty day moving average price is $12.06 and its 200 day moving average price is $15.14. The firm has a market capitalization of $28.00 billion, a PE ratio of -87.72 and a beta of 2.43.

Wall Street Analysts Forecast Growth

RKT has been the topic of a number of recent research reports. Barclays dropped their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 13th. Royal Bank of Canada dropped their price target on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 13th. The Goldman Sachs Group decreased their price objective on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Piper Sandler dropped their target price on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Wedbush reaffirmed a “neutral” rating and set a $13.00 price target (down from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.71.

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.