Traders Purchase Large Volume of Rocket Companies Call Options (NYSE:RKT)

Rocket Companies, Inc. (NYSE:RKT) was the target of unusually large options trading on Friday. Stock investors purchased 33,010 call options on the stock. This represents an increase of 204% compared to the typical volume of 10,843 call options.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group dropped their target price on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. UBS Group raised Rocket Companies from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $12.50 to $11.50 in a report on Friday, January 10th. Wedbush reissued a “neutral” rating and set a $13.00 target price on shares of Rocket Companies in a report on Wednesday. Keefe, Bruyette & Woods boosted their target price on Rocket Companies from $10.50 to $12.00 and gave the stock an “underperform” rating in a report on Monday. Finally, JPMorgan Chase & Co. dropped their target price on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.83.

Rocket Companies Price Performance

Shares of NYSE RKT traded up $0.74 during trading on Friday, hitting $15.59. The company had a trading volume of 4,869,730 shares, compared to its average volume of 3,075,876. The company has a market cap of $31.10 billion, a P/E ratio of -97.36 and a beta of 2.39. Rocket Companies has a 52 week low of $10.06 and a 52 week high of $21.38. The business’s 50-day moving average is $12.31 and its 200 day moving average is $15.05. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47.

Institutional Trading of Rocket Companies

Large investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its position in Rocket Companies by 2.9% in the fourth quarter. Cetera Investment Advisers now owns 33,035 shares of the company’s stock worth $372,000 after acquiring an additional 936 shares in the last quarter. Vident Advisory LLC increased its stake in Rocket Companies by 3.6% in the fourth quarter. Vident Advisory LLC now owns 30,798 shares of the company’s stock valued at $347,000 after acquiring an additional 1,078 shares during the period. Capital Performance Advisors LLP bought a new position in Rocket Companies during the third quarter worth about $39,000. KBC Group NV boosted its holdings in Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock valued at $68,000 after purchasing an additional 2,226 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Rocket Companies by 9.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 27,825 shares of the company’s stock valued at $313,000 after purchasing an additional 2,437 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

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.