Rocket Companies, Inc. (NYSE:RKT) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,314 shares of the company’s stock after selling 2,236 shares during the period. Public Employees Retirement System of Ohio’s holdings in Rocket Companies were worth $985,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Rocket Companies by 27.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 19,800 shares of the company’s stock worth $271,000 after purchasing an additional 4,250 shares during the last quarter. Blue Trust Inc. acquired a new stake in Rocket Companies during the second quarter worth approximately $61,000. Raymond James & Associates grew its stake in Rocket Companies by 4.3% in the 2nd quarter. Raymond James & Associates now owns 202,215 shares of the company’s stock worth $2,770,000 after acquiring an additional 8,278 shares during the period. Lakeshore Financial Planning Inc. raised its holdings in Rocket Companies by 8.0% in the 2nd quarter. Lakeshore Financial Planning Inc. now owns 13,496 shares of the company’s stock valued at $185,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Rocket Companies by 100.7% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 20,955 shares of the company’s stock worth $287,000 after purchasing an additional 10,515 shares during the period. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RKT shares. Bank of America lifted their price objective on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 14th. Barclays lowered their price target on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, November 13th. Wedbush reiterated a “neutral” rating and set a $13.00 price objective (down from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their target price on shares of Rocket Companies from $19.00 to $14.00 and set an “underweight” rating for the company in a report on Monday, December 9th. Finally, Piper Sandler cut their price target on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Six analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.92.

Rocket Companies Price Performance

Rocket Companies stock opened at $11.63 on Friday. The firm has a fifty day moving average of $14.89 and a 200-day moving average of $16.18. Rocket Companies, Inc. has a 52-week low of $10.87 and a 52-week high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $23.20 billion, a P/E ratio of -72.69 and a beta of 2.38.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The firm’s quarterly revenue was down 46.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) EPS. As a group, analysts predict that Rocket Companies, Inc. will post 0.16 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.