Lansforsakringar Fondforvaltning AB publ Sells 36,513 Shares of Rocket Companies, Inc. $RKT

Lansforsakringar Fondforvaltning AB publ cut its holdings in Rocket Companies, Inc. (NYSE:RKT) by 11.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,034 shares of the company’s stock after selling 36,513 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Rocket Companies were worth $3,905,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC lifted its position in Rocket Companies by 22.3% during the 4th quarter. ORG Partners LLC now owns 2,857 shares of the company’s stock valued at $55,000 after acquiring an additional 520 shares during the period. Manchester Capital Management LLC grew its holdings in Rocket Companies by 0.5% in the fourth quarter. Manchester Capital Management LLC now owns 116,466 shares of the company’s stock worth $2,255,000 after purchasing an additional 618 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Rocket Companies by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock worth $365,000 after purchasing an additional 636 shares during the period. Composition Wealth LLC increased its stake in shares of Rocket Companies by 2.7% during the fourth quarter. Composition Wealth LLC now owns 25,323 shares of the company’s stock valued at $490,000 after purchasing an additional 668 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Rocket Companies by 26.1% during the third quarter. Parallel Advisors LLC now owns 3,267 shares of the company’s stock valued at $63,000 after purchasing an additional 677 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Trading Down 0.8%

NYSE:RKT opened at $15.72 on Friday. The company’s 50 day moving average price is $14.19 and its 200-day moving average price is $16.61. Rocket Companies, Inc. has a 52 week low of $12.17 and a 52 week high of $24.36. The company has a quick ratio of 4.37, a current ratio of 4.37 and a debt-to-equity ratio of 1.13. The stock has a market cap of $44.49 billion, a price-to-earnings ratio of 314.46 and a beta of 2.16.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The company had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter last year, the firm earned $0.04 earnings per share. The firm’s quarterly revenue was up 167.1% compared to the same quarter last year. On average, equities research analysts forecast that Rocket Companies, Inc. will post 0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RKT has been the topic of a number of analyst reports. Zacks Research raised Rocket Companies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Barclays raised Rocket Companies from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $22.00 to $19.00 in a research report on Monday, April 6th. BTIG Research reiterated a “neutral” rating on shares of Rocket Companies in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods cut their target price on Rocket Companies from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, June 25th. Finally, Citizens Jmp initiated coverage on Rocket Companies in a research note on Wednesday, March 25th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Rocket Companies currently has a consensus rating of “Moderate Buy” and an average price target of $20.87.

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.