Oak Thistle LLC Sells 65,809 Shares of Rocket Companies, Inc. $RKT

Oak Thistle LLC lessened its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 56.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,721 shares of the company’s stock after selling 65,809 shares during the quarter. Oak Thistle LLC’s holdings in Rocket Companies were worth $1,002,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RKT. Boston Partners grew its holdings in Rocket Companies by 6.2% in the second quarter. Boston Partners now owns 14,560,706 shares of the company’s stock worth $206,610,000 after purchasing an additional 856,367 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Rocket Companies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 12,793,549 shares of the company’s stock worth $154,418,000 after purchasing an additional 273,475 shares in the last quarter. Wellington Management Group LLP grew its stake in Rocket Companies by 1.5% during the 1st quarter. Wellington Management Group LLP now owns 4,774,324 shares of the company’s stock worth $57,626,000 after buying an additional 69,147 shares during the last quarter. Third Point LLC acquired a new position in Rocket Companies during the 2nd quarter valued at about $67,355,000. Finally, Broad Bay Capital Management LP acquired a new position in Rocket Companies during the 2nd quarter valued at about $51,585,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Insider Activity at Rocket Companies

In related news, Director Matthew Rizik sold 2,500 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $18.99, for a total transaction of $47,475.00. Following the sale, the director directly owned 1,086,036 shares of the company’s stock, valued at $20,623,823.64. This trade represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 17,500 shares of company stock valued at $325,650 in the last quarter. 92.64% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RKT has been the topic of a number of research analyst reports. Wall Street Zen lowered Rocket Companies from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Royal Bank Of Canada upped their price target on shares of Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Morgan Stanley raised their price target on shares of Rocket Companies from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Barclays set a $19.00 price objective on shares of Rocket Companies and gave the company a “cautious” rating in a report on Monday, October 6th. Finally, Bank of America raised Rocket Companies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $21.00 to $24.00 in a research report on Wednesday, September 10th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Rocket Companies presently has an average rating of “Hold” and an average price target of $18.54.

Rocket Companies Trading Up 2.6%

Shares of Rocket Companies stock opened at $18.63 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 19.68. The firm has a fifty day moving average price of $17.76 and a 200 day moving average price of $16.98. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $22.56. The stock has a market cap of $39.21 billion, a PE ratio of 232.90 and a beta of 2.26.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.65 billion. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. The firm’s revenue was up 148.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 earnings per share. Equities research analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current 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.