Missouri Trust & Investment Co Purchases 15,260 Shares of Rocket Companies, Inc. (NYSE:RKT)

Missouri Trust & Investment Co lifted its holdings in Rocket Companies, Inc. (NYSE:RKT) by 21.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 86,295 shares of the company’s stock after buying an additional 15,260 shares during the period. Missouri Trust & Investment Co’s holdings in Rocket Companies were worth $972,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in RKT. State Street Corp increased its holdings in Rocket Companies by 44.7% during the third quarter. State Street Corp now owns 4,108,189 shares of the company’s stock valued at $78,836,000 after buying an additional 1,269,795 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Rocket Companies by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company’s stock valued at $39,235,000 after acquiring an additional 12,735 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Rocket Companies by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company’s stock worth $19,971,000 after purchasing an additional 72,308 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Rocket Companies in the 2nd quarter worth $10,811,000. Finally, Philip James Wealth Mangement LLC bought a new position in Rocket Companies in the 3rd quarter worth $6,811,000. Institutional investors own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

RKT has been the subject of several recent research reports. Wedbush reissued a “neutral” rating and set a $13.00 price target (down previously from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. Keefe, Bruyette & Woods reduced their price objective on shares of Rocket Companies from $11.50 to $10.50 and set an “underperform” rating for the company in a research note on Friday, January 3rd. UBS Group upgraded shares of Rocket Companies from a “sell” rating to a “neutral” rating and lowered their target price for the company from $12.50 to $11.50 in a research note on Friday, January 10th. Morgan Stanley cut their price target on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Finally, Royal Bank of Canada lowered their price objective on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.50.

Rocket Companies Stock Up 0.9 %

Shares of RKT opened at $11.98 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The stock has a market capitalization of $23.89 billion, a price-to-earnings ratio of -74.86 and a beta of 2.42. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38. The business’s 50 day simple moving average is $12.35 and its 200-day simple moving average is $15.72.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The company had revenue of $647.00 million for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Rocket Companies’s revenue was down 46.2% on a year-over-year basis. As a group, equities analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share 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.