Rocket Companies, Inc. (NYSE:RKT) Shares Sold by Atlas Capital Advisors LLC

Atlas Capital Advisors LLC lowered its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,793 shares of the company’s stock after selling 1,051 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Rocket Companies were worth $230,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in Rocket Companies by 1,348.3% during the fourth quarter. International Assets Investment Management LLC now owns 34,889 shares of the company’s stock worth $505,000 after purchasing an additional 32,480 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Rocket Companies by 39.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,153 shares of the company’s stock valued at $422,000 after buying an additional 8,269 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Rocket Companies in the 4th quarter valued at approximately $317,000. Charles Schwab Investment Management Inc. boosted 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. Finally, Principal Securities Inc. acquired a new position in Rocket Companies during the fourth quarter worth $26,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Price Performance

Shares of NYSE RKT traded up $0.32 during trading on Friday, reaching $19.64. The company had a trading volume of 2,480,983 shares, compared to its average volume of 2,690,281. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27. Rocket Companies, Inc. has a twelve month low of $7.17 and a twelve month high of $21.28. The stock has a 50-day moving average price of $16.36 and a two-hundred day moving average price of $14.26. The stock has a market capitalization of $39.05 billion, a PE ratio of 178.55 and a beta of 2.43.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.22 billion. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) EPS. As a group, sell-side analysts predict that Rocket Companies, Inc. will post 0.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank of Canada raised their target price on Rocket Companies from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Piper Sandler boosted their price objective on shares of Rocket Companies from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Keefe, Bruyette & Woods raised shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a report on Monday, August 5th. Wedbush upped their price target on Rocket Companies from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Barclays lifted their price objective on Rocket Companies from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Tuesday, July 9th. Five research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, Rocket Companies currently has a consensus rating of “Hold” and an average target price of $12.81.

Rocket Companies 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.