Philip James Wealth Mangement LLC decreased its position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 14.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 304,725 shares of the company's stock after selling 50,216 shares during the quarter. Philip James Wealth Mangement LLC's holdings in Rocket Companies were worth $3,431,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of RKT. Raymond James & Associates lifted its holdings in Rocket Companies by 48.7% in the 3rd quarter. Raymond James & Associates now owns 300,612 shares of the company's stock worth $5,769,000 after purchasing an additional 98,397 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Rocket Companies by 324.4% in the third quarter. Victory Capital Management Inc. now owns 67,161 shares of the company's stock worth $1,289,000 after buying an additional 51,336 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Rocket Companies in the third quarter worth $1,071,000. XTX Topco Ltd purchased a new position in shares of Rocket Companies in the third quarter worth $1,486,000. Finally, Entropy Technologies LP purchased a new position in shares of Rocket Companies in the third quarter worth $875,000. Hedge funds and other institutional investors own 4.59% of the company's stock.
Rocket Companies Stock Performance
NYSE RKT traded down $0.36 during trading hours on Thursday, reaching $12.75. The stock had a trading volume of 2,263,642 shares, compared to its average volume of 3,053,440. The stock has a fifty day moving average of $11.88 and a 200 day moving average of $15.37. The stock has a market cap of $25.42 billion, a P/E ratio of -79.66 and a beta of 2.43. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47.
Wall Street Analyst Weigh In
RKT has been the topic of several recent research reports. The Goldman Sachs Group decreased their price objective on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Keefe, Bruyette & Woods decreased their price target on shares of Rocket Companies from $11.50 to $10.50 and set an "underperform" rating on the stock in a research note on Friday, January 3rd. Bank of America upped their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the company an "underperform" rating in a research note on Thursday, November 14th. Piper Sandler decreased their target price on shares of Rocket Companies from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Finally, Royal Bank of Canada decreased their target price on shares of 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. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat.com, Rocket Companies presently has a consensus rating of "Hold" and an average target price of $13.50.
View Our Latest Analysis on Rocket Companies
About Rocket Companies
(
Free Report)
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.
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