Wealthspire Advisors LLC Has $2.77 Million Position in Rocket Companies, Inc. (NYSE:RKT)

Wealthspire Advisors LLC cut its holdings in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 22.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,400 shares of the company's stock after selling 55,000 shares during the quarter. Wealthspire Advisors LLC's holdings in Rocket Companies were worth $2,771,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC boosted its position in Rocket Companies by 1.1% during the third quarter. FMR LLC now owns 11,540,617 shares of the company's stock valued at $94,402,000 after purchasing an additional 122,894 shares during the last quarter. Boston Partners acquired a new stake in shares of Rocket Companies in the 3rd quarter valued at approximately $47,544,000. Charles Schwab Investment Management Inc. grew its stake in shares of Rocket Companies by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 716,974 shares of the company's stock valued at $10,382,000 after buying an additional 35,470 shares in the last quarter. Integrated Investment Consultants LLC increased its holdings in Rocket Companies by 1,069.0% during the fourth quarter. Integrated Investment Consultants LLC now owns 650,598 shares of the company's stock worth $9,421,000 after buying an additional 594,945 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new stake in Rocket Companies during the third quarter worth $5,195,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Price Performance

Shares of NYSE RKT traded down $0.10 during midday trading on Wednesday, reaching $13.88. The company's stock had a trading volume of 6,805,036 shares, compared to its average volume of 2,515,825. The company has a debt-to-equity ratio of 1.20, a quick ratio of 9.78 and a current ratio of 12.83. The company has a market cap of $27.56 billion, a P/E ratio of 126.18, a P/E/G ratio of 10.36 and a beta of 2.43. The business's 50 day moving average price is $12.83 and its two-hundred day moving average price is $11.70. Rocket Companies, Inc. has a fifty-two week low of $7.17 and a fifty-two week high of $15.19.

Rocket Companies (NYSE:RKT - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.05%. The company had revenue of $885.00 million for the quarter, compared to the consensus estimate of $762.44 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The business's revenue was up 29.6% compared to the same quarter last year. On average, analysts forecast that Rocket Companies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RKT. Bank of America boosted their price objective on shares of Rocket Companies from $7.00 to $8.00 and gave the stock an "underperform" rating in a research note on Monday, March 18th. Wells Fargo & Company reduced their target price on Rocket Companies from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday, February 23rd. Deutsche Bank Aktiengesellschaft started coverage on Rocket Companies in a research note on Wednesday, January 10th. They issued a "hold" rating and a $10.00 price target on the stock. UBS Group lifted their price objective on shares of Rocket Companies from $8.50 to $10.00 and gave the stock a "sell" rating in a research report on Monday, February 26th. Finally, Citigroup increased their price objective on shares of Rocket Companies from $10.00 to $11.00 and gave the company a "sell" rating in a research report on Wednesday, February 28th. Six research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.60.

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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