Rocket Companies, Inc. (NYSE:RKT) Shares Bought by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC grew its holdings in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 151.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 766,197 shares of the company's stock after buying an additional 461,472 shares during the quarter. Rocket Companies accounts for approximately 1.1% of Philip James Wealth Mangement LLC's holdings, making the stock its 15th biggest holding. Philip James Wealth Mangement LLC's holdings in Rocket Companies were worth $9,248,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RKT. Truist Financial Corp raised its position in Rocket Companies by 12.6% during the fourth quarter. Truist Financial Corp now owns 23,373 shares of the company's stock valued at $263,000 after purchasing an additional 2,621 shares during the period. Bank of New York Mellon Corp raised its holdings in Rocket Companies by 39.4% during the 4th quarter. Bank of New York Mellon Corp now owns 468,620 shares of the company's stock valued at $5,277,000 after buying an additional 132,453 shares during the period. Proficio Capital Partners LLC bought a new stake in Rocket Companies in the fourth quarter worth $154,000. Bruni J V & Co. Co. boosted its stake in Rocket Companies by 21.2% during the fourth quarter. Bruni J V & Co. Co. now owns 1,860,060 shares of the company's stock worth $20,944,000 after buying an additional 324,976 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in Rocket Companies by 131.7% during the fourth quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company's stock worth $410,000 after buying an additional 20,706 shares during the period. Institutional investors own 4.59% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on RKT. Barclays upgraded shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $10.00 to $14.00 in a report on Tuesday, April 8th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $18.00 price objective on shares of Rocket Companies in a research note on Tuesday, April 1st. UBS Group upped their price objective on Rocket Companies from $13.00 to $14.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Wedbush reiterated a "neutral" rating and set a $12.00 target price (down from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Finally, Keefe, Bruyette & Woods decreased 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Rocket Companies presently has an average rating of "Hold" and a consensus price target of $14.21.

Rocket Companies Stock Down 0.2%

Shares of NYSE:RKT traded down $0.03 during trading hours on Monday, hitting $14.19. The company's stock had a trading volume of 23,377,063 shares, compared to its average volume of 9,816,020. The firm's fifty day moving average price is $12.94 and its 200 day moving average price is $12.76. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38. The company has a market capitalization of $28.38 billion, a price-to-earnings ratio of -473.00, a P/E/G ratio of 0.91 and a beta of 2.28. The company has a debt-to-equity ratio of 1.37, a current ratio of 12.62 and a quick ratio of 12.62.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.04 earnings per share for the quarter, hitting analysts' consensus estimates of $0.04. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.26 billion. Rocket Companies had a return on equity of 3.61% and a net margin of 0.06%. Rocket Companies's revenue was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.04 earnings per share. As a group, research analysts expect 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.