162,567 Shares in Rocket Companies, Inc. (NYSE:RKT) Bought by Lincoln Capital Corp

Lincoln Capital Corp purchased a new position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 162,567 shares of the company's stock, valued at approximately $1,831,000.

A number of other large investors also recently bought and sold shares of RKT. Wedmont Private Capital increased its position in Rocket Companies by 8.9% during the 3rd quarter. Wedmont Private Capital now owns 15,937 shares of the company's stock worth $279,000 after purchasing an additional 1,305 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Rocket Companies during the third quarter worth approximately $39,000. Blue Trust Inc. increased its position in shares of Rocket Companies by 54.1% in the third quarter. Blue Trust Inc. now owns 6,438 shares of the company's stock worth $124,000 after acquiring an additional 2,261 shares in the last quarter. DMC Group LLC raised its stake in shares of Rocket Companies by 8.1% in the 3rd quarter. DMC Group LLC now owns 31,775 shares of the company's stock valued at $610,000 after acquiring an additional 2,373 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Rocket Companies by 14.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 22,566 shares of the company's stock valued at $433,000 after acquiring an additional 2,766 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company's stock.

Analyst Upgrades and Downgrades

RKT has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered their price target on Rocket Companies from $11.50 to $10.50 and set an "underperform" rating for the company in a report on Friday, January 3rd. Bank of America raised their target price on Rocket Companies from $14.00 to $15.00 and gave the company an "underperform" rating in a report on Thursday, November 14th. Piper Sandler decreased their price target on Rocket Companies from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Morgan Stanley dropped their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group decreased their target price on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat.com, Rocket Companies has a consensus rating of "Hold" and a consensus price target of $13.50.

Rocket Companies Stock Up 1.0 %

NYSE:RKT traded up $0.12 during mid-day trading on Friday, reaching $12.02. The stock had a trading volume of 3,022,773 shares, compared to its average volume of 3,058,878. 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 company has a market capitalization of $23.97 billion, a price-to-earnings ratio of -75.09 and a beta of 2.42. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The stock's 50 day simple moving average is $12.27 and its two-hundred day simple moving average is $15.67.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, meeting analysts' consensus estimates of $0.08. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The business had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the business earned ($0.01) EPS. The business's quarterly revenue was down 46.2% on a year-over-year basis. Equities analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current year.

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.