204,111 Rocket Companies, Inc. $RKT Shares Acquired by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lifted its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 406.2% during the 3rd quarter, Holdings Channel reports. The fund owned 254,357 shares of the company’s stock after buying an additional 204,111 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Rocket Companies were worth $2,928,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cassaday & Co Wealth Management LLC acquired a new position in shares of Rocket Companies during the 1st quarter valued at about $34,000. Summit Securities Group LLC purchased a new stake in shares of Rocket Companies in the first quarter valued at about $60,000. IFP Advisors Inc acquired a new stake in Rocket Companies during the third quarter worth about $53,000. Hilltop National Bank increased its position in Rocket Companies by 44,581.8% during the second quarter. Hilltop National Bank now owns 4,915 shares of the company’s stock worth $77,000 after purchasing an additional 4,904 shares during the last quarter. Finally, Mather Group LLC. raised its stake in Rocket Companies by 102.6% during the third quarter. Mather Group LLC. now owns 5,222 shares of the company’s stock worth $60,000 after purchasing an additional 2,645 shares during the period. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Insider Transactions at Rocket Companies

In other Rocket Companies news, CEO Jesse Bray sold 92,300 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $12.39, for a total value of $1,143,597.00. Following the transaction, the chief executive officer owned 7,728,027 shares of the company’s stock, valued at $95,750,254.53. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 450,000 shares of company stock valued at $5,687,074. 57.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on RKT. Weiss Ratings upgraded shares of Rocket Companies from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Stephens dropped their price target on shares of Rocket Companies from $22.50 to $20.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Wells Fargo & Company set a $13.00 price target on shares of Rocket Companies and gave the stock an “equal weight” rating in a report on Tuesday, October 6th. Royal Bank Of Canada restated a “sector perform” rating and set a $16.00 price target (up from $15.00) on shares of Rocket Companies in a report on Wednesday, August 12th. Finally, Benchmark reduced their price target on shares of Rocket Companies from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.12.

Rocket Companies Stock Performance

Shares of Rocket Companies stock opened at $11.12 on Thursday. Rocket Companies, Inc. has a 52 week low of $10.18 and a 52 week high of $24.36. The business’s fifty day simple moving average is $12.74 and its 200-day simple moving average is $13.76. The firm has a market cap of $31.50 billion, a PE ratio of 79.46, a price-to-earnings-growth ratio of 3.36 and a beta of 2.23. The company has a quick ratio of 4.85, a current ratio of 4.85 and a debt-to-equity ratio of 1.16.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Rocket Companies had a return on equity of 5.13% and a net margin of 4.70%. The company’s revenue was up 91.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.04 EPS. Equities analysts forecast that Rocket Companies, Inc. will post 0.48 earnings per share for the current year.

About Rocket Companies

Rocket Companies, Inc is a Detroit-based financial technology company that operates a portfolio of consumer finance and real estate businesses. Its platform is designed to simplify the homeownership process through digital applications, automated workflows and online customer support.

The company’s principal business is Rocket Mortgage, a residential mortgage lender and servicer offering home purchase, refinance and home equity products. Its broader portfolio includes Rocket Homes, a real estate services platform; Rocket Money, a personal finance app that helps consumers manage subscriptions, budgets and bills; Rocket Loans, which provides personal loans; and Rocket Pro, which supports mortgage brokers and other partners.

Rocket Companies traces its history to 1985, when Dan Gilbert founded Rock Financial.