Wealthcare Advisory Partners LLC Sells 8,076 Shares of Rocket Companies, Inc. (NYSE:RKT)

Wealthcare Advisory Partners LLC lowered its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 43.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,376 shares of the company’s stock after selling 8,076 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Rocket Companies were worth $151,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Atlas Capital Advisors LLC increased its stake in Rocket Companies by 1,682.6% during the 1st quarter. Atlas Capital Advisors LLC now owns 17,844 shares of the company’s stock worth $260,000 after acquiring an additional 16,843 shares during the period. First Affirmative Financial Network increased its stake in Rocket Companies by 6.1% during the 1st quarter. First Affirmative Financial Network now owns 14,272 shares of the company’s stock worth $208,000 after acquiring an additional 822 shares during the period. Wedmont Private Capital bought a new position in Rocket Companies during the 1st quarter worth $154,000. Vanguard Group Inc. increased its stake in Rocket Companies by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after acquiring an additional 1,101,325 shares during the period. Finally, Vima LLC bought a new position in Rocket Companies during the 4th quarter worth $31,000. Institutional investors own 4.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RKT. Bank of America lifted their price target on Rocket Companies from $7.00 to $8.00 and gave the company an “underperform” rating in a research note on Monday, March 18th. Piper Sandler lifted their price target on Rocket Companies from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. lifted their price target on Rocket Companies from $10.50 to $11.00 and gave the company an “underweight” rating in a research note on Friday, May 3rd. Wedbush reiterated a “neutral” rating and issued a $13.00 price target on shares of Rocket Companies in a research note on Friday, May 3rd. Finally, Royal Bank of Canada lifted their price target on Rocket Companies from $12.00 to $14.00 and gave the company a “sector perform” rating in a research note on Friday, May 3rd. Six equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.60.

Rocket Companies Stock Down 3.9 %

Shares of RKT opened at $13.16 on Tuesday. The company has a market capitalization of $26.17 billion, a PE ratio of 119.65 and a beta of 2.43. Rocket Companies, Inc. has a 12 month low of $7.17 and a 12 month high of $15.81. The stock’s 50-day moving average price is $13.84 and its two-hundred day moving average price is $13.12. The company has a current ratio of 12.83, a quick ratio of 12.83 and a debt-to-equity ratio of 1.20.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, May 2nd. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.02 billion. Rocket Companies had a negative return on equity of 1.05% and a net margin of 0.43%. On average, analysts anticipate that Rocket Companies, Inc. will post 0.24 EPS for the current year.

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.