HCR Wealth Advisors Sells 1,903 Shares of Rocket Companies, Inc. (NYSE:RKT)

HCR Wealth Advisors trimmed its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 76,304 shares of the company’s stock after selling 1,903 shares during the quarter. HCR Wealth Advisors’ holdings in Rocket Companies were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Rocket Companies during the 3rd quarter valued at $39,000. Quarry LP raised its stake in Rocket Companies by 858.8% in the 2nd quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $60,000 after acquiring an additional 3,899 shares during the period. V Square Quantitative Management LLC purchased a new stake in Rocket Companies during the third quarter valued at about $120,000. Blue Trust Inc. boosted its position in Rocket Companies by 54.1% during the third quarter. Blue Trust Inc. now owns 6,438 shares of the company’s stock worth $124,000 after purchasing an additional 2,261 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of Rocket Companies by 3,429.7% in the third quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock worth $142,000 after purchasing an additional 7,168 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on RKT shares. UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $12.50 to $11.50 in a report on Friday, January 10th. Morgan Stanley dropped their target price on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price target on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research report on Tuesday. Piper Sandler dropped their price objective on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Bank of America lifted their target price on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 14th. Five investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.50.

Rocket Companies Price Performance

RKT stock opened at $11.60 on Thursday. The company’s 50 day moving average is $12.75 and its 200 day moving average is $15.79. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $647.00 million for the quarter, compared to analyst estimates of $1.25 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The business’s revenue for the quarter was down 46.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) EPS. Analysts expect that Rocket Companies, Inc. will post 0.16 EPS for the current fiscal year.

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.