Los Angeles Capital Management LLC Buys Shares of 190,488 Rocket Companies, Inc. (NYSE:RKT)

Los Angeles Capital Management LLC purchased a new stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 190,488 shares of the company's stock, valued at approximately $3,655,000.

Several other large investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D bought a new position in shares of Rocket Companies in the 3rd quarter worth about $1,832,000. Capital Performance Advisors LLP bought a new position in shares of Rocket Companies in the 3rd quarter worth approximately $39,000. Philip James Wealth Mangement LLC purchased a new stake in shares of Rocket Companies during the third quarter valued at approximately $6,811,000. QRG Capital Management Inc. boosted its holdings in shares of Rocket Companies by 2.5% in the third quarter. QRG Capital Management Inc. now owns 229,639 shares of the company's stock worth $4,407,000 after buying an additional 5,587 shares during the last quarter. Finally, SteelPeak Wealth LLC bought a new position in shares of Rocket Companies during the 3rd quarter valued at approximately $567,000. Institutional investors and hedge funds own 4.59% of the company's stock.

Rocket Companies Stock Down 9.1 %

Shares of NYSE:RKT traded down $1.41 during midday trading on Wednesday, reaching $14.13. 13,381,400 shares of the company's stock were exchanged, compared to its average volume of 2,889,855. Rocket Companies, Inc. has a 12 month low of $8.39 and a 12 month high of $21.38. The company's 50 day simple moving average is $17.90 and its two-hundred day simple moving average is $16.28. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Morgan Stanley started coverage on shares of Rocket Companies in a report on Tuesday, November 5th. They set an "equal weight" rating and a $18.00 price objective on the stock. Barclays cut their price target 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. Keefe, Bruyette & Woods raised shares of Rocket Companies from an "underperform" rating to a "market perform" rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft upped their price target on Rocket Companies from $11.00 to $15.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Rocket Companies from $15.00 to $19.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Five analysts have rated the stock with a sell rating and seven have issued a hold rating to the company's stock. Based on data from MarketBeat.com, Rocket Companies currently has a consensus rating of "Hold" and a consensus price target of $14.48.

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.