Private Advisory Group LLC Purchases 155,670 Shares of Rocket Companies, Inc. $RKT

Private Advisory Group LLC lifted its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 28.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 695,612 shares of the company’s stock after acquiring an additional 155,670 shares during the quarter. Rocket Companies makes up approximately 1.1% of Private Advisory Group LLC’s portfolio, making the stock its 28th biggest position. Private Advisory Group LLC’s holdings in Rocket Companies were worth $13,467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brooktree Capital Management boosted its position in Rocket Companies by 27.5% during the 3rd quarter. Brooktree Capital Management now owns 148,653 shares of the company’s stock worth $2,881,000 after buying an additional 32,088 shares during the period. Cibc World Market Inc. acquired a new position in Rocket Companies in the 3rd quarter valued at approximately $2,689,000. Udine Wealth Management Inc. raised its stake in shares of Rocket Companies by 86.1% during the third quarter. Udine Wealth Management Inc. now owns 168,070 shares of the company’s stock valued at $3,257,000 after acquiring an additional 77,736 shares during the last quarter. Thames Capital Management LLC raised its stake in shares of Rocket Companies by 54.3% during the third quarter. Thames Capital Management LLC now owns 1,106,003 shares of the company’s stock valued at $21,434,000 after acquiring an additional 389,101 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Rocket Companies by 1,330.4% during the second quarter. Russell Investments Group Ltd. now owns 197,393 shares of the company’s stock worth $2,799,000 after purchasing an additional 183,593 shares during the period. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Price Performance

Shares of RKT opened at $13.67 on Monday. The business’s 50 day moving average price is $17.60 and its two-hundred day moving average price is $18.39. Rocket Companies, Inc. has a 52-week low of $10.94 and a 52-week high of $24.36. The company has a debt-to-equity ratio of 1.07, a quick ratio of 70.90 and a current ratio of 70.90. The firm has a market cap of $38.56 billion, a PE ratio of -105.18 and a beta of 2.30.

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

Insider Buying and Selling at Rocket Companies

In related news, Director Matthew Rizik sold 2,500 shares of the stock in a transaction on Monday, January 12th. The stock was sold at an average price of $22.99, for a total value of $57,475.00. Following the transaction, the director directly owned 1,038,536 shares in the company, valued at $23,875,942.64. This trade represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 7,500 shares of company stock worth $167,575 over the last quarter. 92.64% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on RKT shares. Citizens Jmp started coverage on Rocket Companies in a research report on Wednesday, March 25th. They issued a “market perform” rating on the stock. Barclays set a $22.00 price objective on Rocket Companies and gave the stock an “equal weight” rating in a research report on Tuesday, January 6th. Compass Point began coverage on Rocket Companies in a research note on Tuesday, March 10th. They issued a “buy” rating and a $21.00 price objective on the stock. Jefferies Financial Group began coverage on Rocket Companies in a report on Friday, December 19th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Rocket Companies in a research report on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rocket Companies has a consensus rating of “Hold” and a consensus price target of $20.80.

Rocket Companies Company Profile

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.