354,941 Shares in Rocket Companies, Inc. (NYSE:RKT) Purchased by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC bought a new stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 354,941 shares of the company's stock, valued at approximately $6,811,000. Rocket Companies accounts for about 0.8% of Philip James Wealth Mangement LLC's holdings, making the stock its 27th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in RKT. Blue Trust Inc. bought a new stake in Rocket Companies during the 2nd quarter worth about $61,000. Quarry LP lifted its holdings in Rocket Companies by 858.8% in the second quarter. Quarry LP now owns 4,353 shares of the company's stock valued at $60,000 after buying an additional 3,899 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Rocket Companies during the first quarter worth about $77,000. V Square Quantitative Management LLC bought a new position in shares of Rocket Companies during the 3rd quarter valued at about $120,000. Finally, International Assets Investment Management LLC grew its position in shares of Rocket Companies by 3,429.7% in the 3rd quarter. International Assets Investment Management LLC now owns 7,377 shares of the company's stock valued at $142,000 after purchasing an additional 7,168 shares during the period. Institutional investors own 4.59% of the company's stock.

Rocket Companies Stock Performance

Shares of RKT stock traded down $0.21 on Friday, reaching $15.88. The stock had a trading volume of 2,579,218 shares, compared to its average volume of 2,812,039. The firm's 50-day moving average is $18.14 and its two-hundred day moving average is $16.16. The firm has a market capitalization of $31.59 billion, a price-to-earnings ratio of 230.32 and a beta of 2.46. The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.27. Rocket Companies, Inc. has a 12 month low of $7.85 and a 12 month high of $21.38.

Analyst Upgrades and Downgrades

RKT has been the topic of a number of research reports. Wedbush lifted their price target on shares of Rocket Companies from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Rocket Companies from $11.00 to $15.00 and gave the stock a "hold" rating in a research note on Friday, August 2nd. Bank of America lifted their target price on Rocket Companies from $12.00 to $14.00 and gave the company an "underperform" rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their price objective on shares of Rocket Companies from $13.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Friday, August 2nd. Finally, Morgan Stanley began coverage on shares of Rocket Companies in a research report on Tuesday. They issued an "equal weight" rating and a $18.00 target price for the company. Five equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat.com, Rocket Companies currently has a consensus rating of "Hold" and a consensus target price of $15.15.

Rocket Companies Profile

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.