Vanguard Group Inc. Cuts Holdings in Rocket Companies, Inc. (NYSE:RKT)

Vanguard Group Inc. lessened its holdings in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,601,513 shares of the company's stock after selling 116,978 shares during the quarter. Vanguard Group Inc. owned approximately 0.53% of Rocket Companies worth $86,720,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of RKT. Cipher Capital LP lifted its holdings in shares of Rocket Companies by 3.5% in the 2nd quarter. Cipher Capital LP now owns 35,156 shares of the company's stock worth $315,000 after buying an additional 1,177 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Rocket Companies by 2.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 58,150 shares of the company's stock worth $407,000 after buying an additional 1,219 shares during the period. Truist Financial Corp lifted its holdings in shares of Rocket Companies by 8.9% in the 4th quarter. Truist Financial Corp now owns 16,287 shares of the company's stock worth $114,000 after buying an additional 1,333 shares during the period. Deutsche Bank AG lifted its holdings in shares of Rocket Companies by 34.7% in the 1st quarter. Deutsche Bank AG now owns 5,243 shares of the company's stock worth $48,000 after buying an additional 1,351 shares during the period. Finally, FMR LLC lifted its holdings in shares of Rocket Companies by 134.7% in the 2nd quarter. FMR LLC now owns 3,598 shares of the company's stock worth $26,000 after buying an additional 2,065 shares during the period. Institutional investors own 4.59% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Rocket Companies from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Friday, February 23rd. JPMorgan Chase & Co. restated an "underweight" rating and set a $10.50 price objective (up from $8.50) on shares of Rocket Companies in a research note on Thursday, January 4th. Wedbush restated a "neutral" rating and set a $13.00 price objective on shares of Rocket Companies in a research note on Friday, February 23rd. Citigroup upped their price objective on Rocket Companies from $10.00 to $11.00 and gave the stock a "sell" rating in a research note on Wednesday, February 28th. Finally, UBS Group upped their price objective on Rocket Companies from $8.50 to $10.00 and gave the stock a "sell" rating in a research note on Monday, February 26th. Six research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $10.02.

Rocket Companies Stock Down 0.9 %

NYSE:RKT traded down $0.12 during mid-day trading on Friday, hitting $12.95. 2,138,179 shares of the company's stock traded hands, compared to its average volume of 2,516,558. The company has a fifty day moving average of $12.49 and a 200 day moving average of $10.98. Rocket Companies, Inc. has a twelve month low of $7.17 and a twelve month high of $15.19. The company has a market capitalization of $25.71 billion, a P/E ratio of -80.94, a P/E/G ratio of 10.82 and a beta of 2.42. The company has a debt-to-equity ratio of 0.92, a quick ratio of 9.78 and a current ratio of 9.78.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $885.00 million for the quarter, compared to analyst estimates of $762.44 million. Rocket Companies had a negative net margin of 0.41% and a negative return on equity of 3.63%. The company's quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.12) earnings per share. On average, analysts forecast that Rocket Companies, Inc. will post 0.24 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.