Titleist Asset Management LLC Sells 177,541 Shares of Rocket Companies, Inc. $RKT

Titleist Asset Management LLC trimmed its position in shares of Rocket Companies, Inc. (NYSE:RKTFree Report) by 62.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,674 shares of the company’s stock after selling 177,541 shares during the period. Titleist Asset Management LLC’s holdings in Rocket Companies were worth $2,029,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. lifted its position in shares of Rocket Companies by 57.3% in the third quarter. SBI Securities Co. Ltd. now owns 20,329 shares of the company’s stock valued at $394,000 after acquiring an additional 7,403 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Rocket Companies by 53.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 208,129 shares of the company’s stock valued at $4,034,000 after purchasing an additional 72,595 shares during the period. Peregrine Asset Advisers Inc. lifted its holdings in Rocket Companies by 28.5% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 300,743 shares of the company’s stock worth $5,828,000 after purchasing an additional 66,758 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Rocket Companies by 23.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 76,331 shares of the company’s stock worth $1,489,000 after purchasing an additional 14,480 shares during the period. Finally, FDx Advisors Inc. purchased a new stake in Rocket Companies during the 3rd quarter valued at approximately $203,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Trading Down 1.8%

Shares of NYSE RKT opened at $19.98 on Thursday. The business’s 50 day moving average is $20.26 and its two-hundred day moving average is $18.67. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 19.68. Rocket Companies, Inc. has a 1-year low of $10.94 and a 1-year high of $24.36. The stock has a market capitalization of $42.05 billion, a P/E ratio of 249.78 and a beta of 2.31.

Wall Street Analysts Forecast Growth

RKT has been the topic of several research analyst reports. BTIG Research reissued a “buy” rating and issued a $25.00 target price on shares of Rocket Companies in a report on Wednesday, November 19th. Wells Fargo & Company boosted their price target on shares of Rocket Companies from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Oppenheimer assumed coverage on Rocket Companies in a research report on Thursday, November 13th. They set an “outperform” rating and a $25.00 price objective for the company. Royal Bank Of Canada lifted their target price on Rocket Companies from $17.00 to $20.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 8th. Finally, Barclays set a $22.00 price target on Rocket Companies and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.50.

View Our Latest Analysis on Rocket Companies

Insider Buying and Selling

In other news, Director Matthew Rizik sold 2,500 shares of the stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $19.44, for a total value of $48,600.00. Following the sale, the director owned 1,066,036 shares of the company’s stock, valued at approximately $20,723,739.84. This represents a 0.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 40,000 shares of company stock worth $779,425 over the last ninety days. 92.64% of the stock is owned by insiders.

Key Rocket Companies News

Here are the key news stories impacting Rocket Companies this week:

About Rocket Companies

(Free Report)

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.

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Institutional Ownership by Quarter for Rocket Companies (NYSE:RKT)

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