Kingfisher Capital LLC Sells 9,179 Shares of Rocket Companies, Inc. (NYSE:RKT)

Kingfisher Capital LLC reduced its holdings in Rocket Companies, Inc. (NYSE:RKT) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 173,904 shares of the company’s stock after selling 9,179 shares during the period. Kingfisher Capital LLC’s holdings in Rocket Companies were worth $3,337,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RKT. Marshall Wace LLP acquired a new position in Rocket Companies during the second quarter worth $10,811,000. Renaissance Technologies LLC lifted its position in shares of Rocket Companies by 26.1% in the second quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock valued at $33,821,000 after buying an additional 510,400 shares during the last quarter. Boston Partners increased its holdings in shares of Rocket Companies by 4.2% during the 1st quarter. Boston Partners now owns 9,382,173 shares of the company’s stock worth $136,462,000 after acquiring an additional 381,841 shares during the last quarter. Philip James Wealth Mangement LLC bought a new stake in Rocket Companies in the 3rd quarter valued at $6,811,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Rocket Companies during the 3rd quarter valued at $3,655,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Piper Sandler lowered their target price on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Barclays reduced their price target on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, Morgan Stanley started coverage on shares of Rocket Companies in a research note on Tuesday, November 5th. They issued an “equal weight” rating and a $18.00 price target on the stock. Five investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Rocket Companies currently has an average rating of “Hold” and a consensus target price of $15.13.

Rocket Companies Trading Up 2.0 %

Shares of RKT opened at $14.34 on Friday. 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 52-week low of $9.06 and a 52-week high of $21.38. The firm has a market cap of $28.60 billion, a price-to-earnings ratio of -89.63 and a beta of 2.46. The business’s fifty day moving average is $16.55 and its 200-day moving average is $16.30.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $647.00 million during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the company earned ($0.01) EPS. The firm’s quarterly revenue was down 46.2% compared to the same quarter last year. Equities analysts anticipate 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.