Strs Ohio Decreases Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Strs Ohio lowered its stake in Rocket Companies, Inc. (NYSE:RKT) by 41.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,228 shares of the company’s stock after selling 46,972 shares during the period. Strs Ohio’s holdings in Rocket Companies were worth $958,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RKT. Boston Partners purchased a new position in shares of Rocket Companies in the third quarter worth about $47,544,000. QRG Capital Management Inc. purchased a new position in shares of Rocket Companies in the third quarter worth about $5,195,000. Integrated Investment Consultants LLC increased its holdings in shares of Rocket Companies by 1,069.0% in the fourth quarter. Integrated Investment Consultants LLC now owns 650,598 shares of the company’s stock worth $9,421,000 after buying an additional 594,945 shares during the period. Quantbot Technologies LP increased its holdings in shares of Rocket Companies by 1,515.5% in the third quarter. Quantbot Technologies LP now owns 170,504 shares of the company’s stock worth $1,395,000 after buying an additional 159,950 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Rocket Companies by 623.2% in the third quarter. Raymond James & Associates now owns 161,994 shares of the company’s stock worth $1,325,000 after buying an additional 139,593 shares during the period. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Price Performance

Rocket Companies stock opened at $12.64 on Wednesday. The stock’s 50 day simple moving average is $12.55 and its two-hundred day simple moving average is $11.35. The company has a quick ratio of 9.78, a current ratio of 9.78 and a debt-to-equity ratio of 0.92. Rocket Companies, Inc. has a fifty-two week low of $7.17 and a fifty-two week high of $15.19.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Rocket Companies had a negative net margin of 0.41% and a negative return on equity of 3.63%. The firm had revenue of $885.00 million for the quarter, compared to the consensus estimate of $762.44 million. During the same period in the previous year, the firm posted ($0.12) earnings per share. The business’s revenue was up 29.6% compared to the same quarter last year. As a group, equities analysts forecast that Rocket Companies, Inc. will post 0.26 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on RKT shares. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 target price (up from $8.50) on shares of Rocket Companies in a research note on Thursday, January 4th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $10.75 target price on shares of Rocket Companies in a research note on Wednesday, January 3rd. UBS Group raised their target price on Rocket Companies from $8.50 to $10.00 and gave the stock a “sell” rating in a research note on Monday, February 26th. Wells Fargo & Company cut their target price on Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, February 23rd. Finally, Citigroup raised their target price on Rocket Companies from $10.00 to $11.00 and gave the stock a “sell” rating in a research note on Wednesday, February 28th. Six investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.02.

About Rocket Companies

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.