Rocket Companies, Inc. (NYSE:RKT) Shares Sold by Davis Selected Advisers

Davis Selected Advisers cut its stake in shares of Rocket Companies, Inc. (NYSE:RKTFree 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays assumed coverage on Rocket Companies in a research note on Wednesday, November 15th. They set an “underweight” rating and a $6.00 target price for the company. Wedbush cut their target price on Rocket Companies from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.50 price target (up previously from $8.50) on shares of Rocket Companies in a report on Thursday, January 4th. UBS Group restated a “sell” rating and issued a $8.50 price target on shares of Rocket Companies in a report on Wednesday, December 6th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $10.75 price target on shares of Rocket Companies in a report on Wednesday, January 3rd. Six investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.40.

View Our Latest Analysis on Rocket Companies

About Rocket Companies

(Free Report)

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.

See Also

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

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