Rocket Companies, Inc. $RKT Stock Holdings Lifted by TD Asset Management Inc

TD Asset Management Inc grew its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 1,395.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 178,498 shares of the company’s stock after acquiring an additional 166,563 shares during the period. TD Asset Management Inc’s holdings in Rocket Companies were worth $3,459,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RKT. PNC Financial Services Group Inc. raised its position in shares of Rocket Companies by 18.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,890 shares of the company’s stock worth $55,000 after purchasing an additional 605 shares during the period. Miller Wealth Advisors LLC increased its stake in Rocket Companies by 65.0% in the 3rd quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock worth $32,000 after purchasing an additional 650 shares in the last quarter. Amundi raised its holdings in Rocket Companies by 2.3% during the 2nd quarter. Amundi now owns 34,170 shares of the company’s stock worth $498,000 after buying an additional 754 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Rocket Companies by 23.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,339 shares of the company’s stock valued at $62,000 after buying an additional 816 shares in the last quarter. Finally, Cranbrook Wealth Management LLC boosted its holdings in shares of Rocket Companies by 11.6% in the third quarter. Cranbrook Wealth Management LLC now owns 9,644 shares of the company’s stock worth $187,000 after buying an additional 1,000 shares during the period. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Price Performance

RKT opened at $16.44 on Wednesday. The stock has a fifty day moving average price of $19.91 and a 200 day moving average price of $18.90. The company has a current ratio of 70.90, a quick ratio of 19.68 and a debt-to-equity ratio of 1.07. Rocket Companies, Inc. has a 1 year low of $10.94 and a 1 year high of $24.36. The stock has a market cap of $34.60 billion, a price-to-earnings ratio of -126.46 and a beta of 2.30.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. Rocket Companies had a positive return on equity of 3.04% and a negative net margin of 1.02%.The business’s quarterly revenue was up 52.2% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS. Analysts forecast that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RKT. Oppenheimer began coverage on shares of Rocket Companies in a report on Thursday, November 13th. They set an “outperform” rating and a $25.00 price target on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Rocket Companies from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. Wells Fargo & Company increased their target price on Rocket Companies from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Rocket Companies in a research report on Monday, December 29th. Finally, Jefferies Financial Group assumed coverage on Rocket Companies in a report on Friday, December 19th. They set a “buy” rating and a $25.00 price target on the stock. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.64.

Insider Transactions at Rocket Companies

In other Rocket Companies news, Director Matthew Rizik sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $22.99, for a total value of $57,475.00. Following the completion of the sale, the director directly owned 1,038,536 shares of the company’s stock, valued at $23,875,942.64. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 32,500 shares of company stock valued at $645,775 in the last ninety days. 92.64% of the stock is owned by insiders.

About Rocket Companies

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.