Davis Selected Advisers cut its stake in shares of Rocket Companies, Inc. (NYSE:RKT – Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,410,601 shares of the company’s stock after selling 83,072 shares during the period. Davis Selected Advisers owned approximately 0.17% of Rocket Companies worth $27,899,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RKT. JPMorgan Chase & Co. raised its stake in Rocket Companies by 8.3% during the 1st quarter. JPMorgan Chase & Co. now owns 92,184 shares of the company’s stock valued at $1,025,000 after acquiring an additional 7,048 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Rocket Companies by 32.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,693 shares of the company’s stock worth $186,000 after buying an additional 4,056 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Rocket Companies by 9.2% during the 1st quarter. Bank of New York Mellon Corp now owns 737,843 shares of the company’s stock worth $8,205,000 after buying an additional 61,950 shares in the last quarter. US Bancorp DE raised its stake in shares of Rocket Companies by 341.4% during the 1st quarter. US Bancorp DE now owns 4,414 shares of the company’s stock worth $49,000 after buying an additional 3,414 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Rocket Companies during the 1st quarter worth approximately $52,000. 4.09% of the stock is owned by hedge funds and other institutional investors.
Rocket Companies Price Performance
NYSE:RKT traded up $0.11 during trading hours on Monday, reaching $11.66. 104,702 shares of the company traded hands, compared to its average volume of 2,359,481. Rocket Companies, Inc. has a 1-year low of $7.17 and a 1-year high of $15.19. The stock has a market cap of $23.11 billion, a P/E ratio of -55.00, a P/E/G ratio of 8.94 and a beta of 2.43. The firm’s 50-day moving average is $12.59 and its 200-day moving average is $10.40. The company has a debt-to-equity ratio of 1.05, a current ratio of 11.15 and a quick ratio of 11.15.
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About Rocket Companies
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; Rocket Auto, a virtual marketplace where consumers can shop and compare vehicles of many makes and models from a wide network of dealers; and Rocket Loans, an online-based personal loans business.
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