Rocket Companies, Inc. (NYSE:RKT) Holdings Trimmed by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in Rocket Companies, Inc. (NYSE:RKT) by 48.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,592 shares of the company’s stock after selling 90,408 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Rocket Companies were worth $1,420,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RKT. Raymond James & Associates boosted its holdings in shares of Rocket Companies by 6.4% during the fourth quarter. Raymond James & Associates now owns 172,308 shares of the company’s stock worth $2,495,000 after purchasing an additional 10,314 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Rocket Companies during the 4th quarter valued at $179,000. Global Retirement Partners LLC grew its holdings in shares of Rocket Companies by 7.5% during the 4th quarter. Global Retirement Partners LLC now owns 70,830 shares of the company’s stock valued at $1,026,000 after acquiring an additional 4,917 shares in the last quarter. Oak Thistle LLC increased its stake in shares of Rocket Companies by 76.5% in the fourth quarter. Oak Thistle LLC now owns 62,168 shares of the company’s stock worth $900,000 after acquiring an additional 26,948 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its holdings in shares of Rocket Companies by 1,069.0% during the fourth quarter. Integrated Investment Consultants LLC now owns 650,598 shares of the company’s stock worth $9,421,000 after acquiring an additional 594,945 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Price Performance

RKT traded up $0.55 during midday trading on Thursday, reaching $15.22. 2,432,304 shares of the company’s stock were exchanged, compared to its average volume of 2,501,057. The business has a 50-day simple moving average of $14.18 and a two-hundred day simple moving average of $13.13. The company has a quick ratio of 12.83, a current ratio of 12.83 and a debt-to-equity ratio of 1.20. Rocket Companies, Inc. has a one year low of $7.17 and a one year high of $15.88. The firm has a market capitalization of $30.26 billion, a price-to-earnings ratio of 133.38 and a beta of 2.43.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Rocket Companies had a negative return on equity of 1.05% and a net margin of 0.43%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, research analysts predict that Rocket Companies, Inc. will post 0.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RKT. Piper Sandler boosted their target price on Rocket Companies from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Barclays boosted their price target on Rocket Companies from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. Royal Bank of Canada raised their price objective on shares of Rocket Companies from $12.00 to $14.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on shares of Rocket Companies from $11.00 to $13.50 and gave the stock an “underweight” rating in a research report on Monday, July 8th. Finally, Wedbush restated a “neutral” rating and set a $13.00 price target on shares of Rocket Companies in a report 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 company. According to MarketBeat.com, Rocket Companies currently has an average rating of “Hold” and an average price target of $11.10.

Rocket Companies Company 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.