Orion Portfolio Solutions LLC Decreases Stock Holdings in Rocket Companies, Inc. (NYSE:RKT)

Orion Portfolio Solutions LLC lessened its stake in Rocket Companies, Inc. (NYSE:RKT) by 18.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,807 shares of the company’s stock after selling 2,430 shares during the period. Orion Portfolio Solutions LLC’s holdings in Rocket Companies were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Rocket Companies during the 3rd quarter valued at $39,000. Quarry LP raised its stake in Rocket Companies by 858.8% in the second quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $60,000 after buying an additional 3,899 shares during the last quarter. Blue Trust Inc. purchased a new stake in Rocket Companies in the second quarter valued at about $61,000. V Square Quantitative Management LLC acquired a new stake in Rocket Companies in the third quarter worth about $120,000. Finally, International Assets Investment Management LLC grew its stake in shares of Rocket Companies by 3,429.7% during the third quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock worth $142,000 after acquiring an additional 7,168 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RKT. Piper Sandler lowered their target price on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Bank of America boosted their price objective on shares of Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 14th. UBS Group reduced their target price on Rocket Companies from $14.00 to $12.50 and set a “sell” rating for the company in a research note on Thursday, November 14th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $11.50 price target (down previously from $16.00) on shares of Rocket Companies in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their price objective on Rocket Companies from $19.00 to $14.00 and set an “underweight” rating for the company in a research note on Monday, December 9th. Six research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.92.

Rocket Companies Price Performance

NYSE:RKT opened at $11.82 on Friday. The company has a 50 day moving average price of $14.77 and a 200-day moving average price of $16.16. Rocket Companies, Inc. has a 1-year low of $10.87 and a 1-year high of $21.38. The firm has a market cap of $23.58 billion, a price-to-earnings ratio of -73.88 and a beta of 2.38. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The business had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The company’s revenue was down 46.2% compared to the same quarter last year. Equities research analysts forecast that Rocket Companies, Inc. will post 0.16 EPS for the current year.

Rocket Companies Profile

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.