Delta Global Management LP lowered its stake in Rocket Companies, Inc. (NYSE:RKT – Free Report) by 33.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 808,084 shares of the company’s stock after selling 399,081 shares during the period. Delta Global Management LP’s holdings in Rocket Companies were worth $15,645,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new position in shares of Rocket Companies during the fourth quarter valued at $26,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Rocket Companies in the 4th quarter worth about $26,000. Pinnacle Bancorp Inc. boosted its stake in Rocket Companies by 369.7% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,503 shares of the company’s stock valued at $29,000 after acquiring an additional 1,183 shares during the last quarter. City State Bank purchased a new stake in Rocket Companies in the 4th quarter worth approximately $30,000. Finally, Smithfield Trust Co purchased a new stake in Rocket Companies in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 4.59% of the company’s stock.
Rocket Companies Stock Performance
Shares of RKT stock opened at $13.95 on Tuesday. The company has a 50 day moving average price of $14.41 and a 200-day moving average price of $17.05. Rocket Companies, Inc. has a 52 week low of $12.17 and a 52 week high of $24.36. The firm has a market capitalization of $39.47 billion, a PE ratio of 279.02 and a beta of 2.19. The company has a quick ratio of 4.37, a current ratio of 4.37 and a debt-to-equity ratio of 1.13.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on RKT shares. BTIG Research reissued a “neutral” rating on shares of Rocket Companies in a report on Tuesday. Royal Bank Of Canada reissued a “sector perform” rating and issued a $20.00 price target on shares of Rocket Companies in a report on Monday, May 11th. JPMorgan Chase & Co. cut their price target on shares of Rocket Companies from $24.00 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Citizens Jmp began coverage on shares of Rocket Companies in a report on Wednesday, March 25th. They issued a “market perform” rating on the stock. Finally, Weiss Ratings raised shares of Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Rocket Companies currently has a consensus rating of “Hold” and an average price target of $20.93.
Read Our Latest Analysis on RKT
Rocket Companies Company Profile
Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.
The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.
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