Rocket Companies, Inc. (NYSE:RKT) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC trimmed its holdings in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 69.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 165,862 shares of the company's stock after selling 381,226 shares during the quarter. Wealthfront Advisers LLC's holdings in Rocket Companies were worth $2,002,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. boosted its holdings in Rocket Companies by 312.2% during the first quarter. Mather Group LLC. now owns 2,601 shares of the company's stock worth $31,000 after buying an additional 1,970 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Rocket Companies by 302.2% in the first quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock worth $36,000 after acquiring an additional 2,221 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Rocket Companies during the 4th quarter worth about $47,000. GAMMA Investing LLC grew its position in shares of Rocket Companies by 82.4% during the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock valued at $47,000 after acquiring an additional 1,764 shares during the period. Finally, Signaturefd LLC grew its position in shares of Rocket Companies by 147.1% during the 1st quarter. Signaturefd LLC now owns 4,372 shares of the company's stock valued at $53,000 after acquiring an additional 2,603 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RKT shares. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price target on the stock in a research note on Wednesday, April 2nd. UBS Group raised their price target on shares of Rocket Companies from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. The Goldman Sachs Group boosted their price objective on Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada restated a "sector perform" rating and issued a $18.00 target price on shares of Rocket Companies in a research report on Tuesday, April 1st. Finally, Wedbush reiterated a "neutral" rating and set a $12.00 price target (down from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Rocket Companies has an average rating of "Hold" and a consensus price target of $14.46.

Rocket Companies Stock Up 1.5%

Shares of NYSE RKT opened at $13.99 on Friday. The company has a quick ratio of 12.62, a current ratio of 12.62 and a debt-to-equity ratio of 1.37. The business's 50 day moving average is $13.44 and its two-hundred day moving average is $13.00. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38. The firm has a market cap of $27.98 billion, a price-to-earnings ratio of -466.33 and a beta of 2.28.

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 analysts' consensus estimates of $0.04. Rocket Companies had a return on equity of 3.61% and a net margin of 0.06%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company posted $0.04 earnings per share. The firm's quarterly revenue was down 10.8% compared to the same quarter last year. Research analysts predict that Rocket Companies, Inc. will post 0.15 EPS for the current year.

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.

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