QRG Capital Management Inc. Sells 140,552 Shares of Rocket Companies, Inc. (NYSE:RKT)

QRG Capital Management Inc. cut its stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 64.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,165 shares of the company's stock after selling 140,552 shares during the period. QRG Capital Management Inc.'s holdings in Rocket Companies were worth $943,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RKT. Parallel Advisors LLC boosted its holdings in Rocket Companies by 302.2% in the 1st quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock valued at $36,000 after purchasing an additional 2,221 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Rocket Companies in the 4th quarter valued at $47,000. GAMMA Investing LLC boosted its holdings in Rocket Companies by 82.4% in the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock valued at $47,000 after purchasing an additional 1,764 shares during the period. Sterling Capital Management LLC boosted its holdings in Rocket Companies by 57.2% in the 4th quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock valued at $93,000 after purchasing an additional 3,019 shares during the period. Finally, Caisse Des Depots ET Consignations bought a new stake in Rocket Companies in the 4th quarter valued at $99,000. 4.59% of the stock is owned by institutional investors.

Rocket Companies Trading Up 4.4%

Shares of RKT stock opened at $14.40 on Friday. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. The company has a market capitalization of $28.79 billion, a P/E ratio of -479.83, a P/E/G ratio of 0.89 and a beta of 2.28. The firm has a 50-day moving average price of $12.72 and a 200 day moving average price of $12.72. The company has a quick ratio of 12.62, a current ratio of 12.62 and a debt-to-equity ratio of 1.37.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Rocket Companies had a net margin of 0.06% and a return on equity of 3.61%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm posted $0.04 EPS. The firm's quarterly revenue was down 10.8% on a year-over-year basis. Research analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RKT shares. Barclays raised shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $10.00 to $14.00 in a report on Tuesday, April 8th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $18.00 price objective on shares of Rocket Companies in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price objective on shares of Rocket Companies from $15.00 to $13.00 and set a "market perform" rating for the company in a report on Monday, May 12th. Finally, UBS Group raised their price objective on shares of Rocket Companies from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Rocket Companies presently has an average rating of "Hold" and a consensus target price of $14.21.

Rocket Companies Company 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.

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