Jasper Ridge Partners L.P. Buys Shares of 30,991 Rocket Companies, Inc. $RKT

Jasper Ridge Partners L.P. purchased a new position in shares of Rocket Companies, Inc. (NYSE:RKT) in the 2nd quarter, HoldingsChannel reports. The firm purchased 30,991 shares of the company’s stock, valued at approximately $439,000.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in Rocket Companies by 18.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,890 shares of the company’s stock valued at $55,000 after buying an additional 605 shares during the period. Amundi lifted its stake in shares of Rocket Companies by 2.3% in the 2nd quarter. Amundi now owns 34,170 shares of the company’s stock valued at $498,000 after purchasing an additional 754 shares during the period. USS Investment Management Ltd lifted its stake in shares of Rocket Companies by 2.7% in the 1st quarter. USS Investment Management Ltd now owns 37,152 shares of the company’s stock valued at $448,000 after purchasing an additional 967 shares during the period. Missouri Trust & Investment Co boosted its position in shares of Rocket Companies by 1.1% during the 2nd quarter. Missouri Trust & Investment Co now owns 94,395 shares of the company’s stock valued at $1,339,000 after purchasing an additional 1,000 shares in the last quarter. Finally, North Capital Inc. grew its stake in Rocket Companies by 287.2% during the second quarter. North Capital Inc. now owns 1,820 shares of the company’s stock worth $26,000 after purchasing an additional 1,350 shares during the period. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RKT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Rocket Companies in a research note on Monday, October 13th. Oppenheimer initiated coverage on shares of Rocket Companies in a research report on Thursday, November 13th. They set an “outperform” rating and a $25.00 target price on the stock. Morgan Stanley increased their target price on shares of Rocket Companies from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Barclays set a $19.00 price target on shares of Rocket Companies and gave the company a “cautious” rating in a research note on Monday, October 6th. Finally, Royal Bank Of Canada increased their price objective on shares of Rocket Companies from $17.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $18.18.

Insiders Place Their Bets

In other Rocket Companies news, Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $18.78, for a total transaction of $46,950.00. Following the completion of the transaction, the director owned 1,096,036 shares in the company, valued at approximately $20,583,556.08. The trade was a 0.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 12,500 shares of company stock valued at $230,250. 92.64% of the stock is currently owned by company insiders.

Rocket Companies Stock Performance

NYSE RKT opened at $19.28 on Thursday. The company has a market cap of $40.58 billion, a P/E ratio of 241.07 and a beta of 2.26. The company has a fifty day simple moving average of $17.57 and a 200 day simple moving average of $16.77. The company has a current ratio of 19.68, a quick ratio of 19.68 and a debt-to-equity ratio of 2.16. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $22.56.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. The firm 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 business’s quarterly revenue was up 148.1% compared to the same quarter last year. During the same period last year, the firm earned $0.08 earnings per share. Sell-side analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share 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.