Rocket Companies, Inc. $RKT Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC reduced its position in Rocket Companies, Inc. (NYSE:RKT) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 795,397 shares of the company’s stock after selling 82,600 shares during the period. Wealthspire Advisors LLC’s holdings in Rocket Companies were worth $15,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. lifted its stake in shares of Rocket Companies by 369.7% in the 4th quarter. Pinnacle Bancorp Inc. now owns 1,503 shares of the company’s stock valued at $29,000 after purchasing an additional 1,183 shares during the period. City State Bank acquired a new position in shares of Rocket Companies in the 4th quarter valued at $30,000. Smithfield Trust Co acquired a new position in shares of Rocket Companies in the 4th quarter valued at $32,000. Key Financial Inc acquired a new position in shares of Rocket Companies in the 4th quarter valued at $32,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Rocket Companies by 354.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,974 shares of the company’s stock valued at $38,000 after purchasing an additional 1,540 shares during the period. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on RKT shares. Keefe, Bruyette & Woods decreased their target price on shares of Rocket Companies from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Citizens Jmp began coverage on shares of Rocket Companies in a research note on Wednesday, March 25th. They issued a “market perform” rating for the company. Compass Point began coverage on shares of Rocket Companies in a research report on Tuesday, March 10th. They set a “buy” rating and a $21.00 price objective for the company. Royal Bank Of Canada restated a “sector perform” rating and set a $20.00 price objective on shares of Rocket Companies in a research report on Monday, May 11th. Finally, Zacks Research upgraded shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.93.

Rocket Companies Stock Performance

NYSE:RKT opened at $13.06 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.37 and a current ratio of 4.37. The company has a fifty day moving average of $14.43 and a two-hundred day moving average of $17.10. The stock has a market capitalization of $36.96 billion, a PE ratio of 261.26 and a beta of 2.19. Rocket Companies, Inc. has a fifty-two week low of $12.17 and a fifty-two week high of $24.36.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The firm’s revenue for the quarter was up 167.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. As a group, research analysts forecast that Rocket Companies, Inc. will post 0.65 earnings per share for the current fiscal year.

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.