49,183 Shares in Rocket Companies, Inc. $RKT Bought by Friedenthal Financial

Friedenthal Financial acquired a new position in Rocket Companies, Inc. (NYSE:RKT) during the third quarter, Holdings Channel.com reports. The firm acquired 49,183 shares of the company’s stock, valued at approximately $953,000.

Several other large investors also recently modified their holdings of RKT. North Capital Inc. increased its position in shares of Rocket Companies by 287.2% during the second quarter. North Capital Inc. now owns 1,820 shares of the company’s stock worth $26,000 after acquiring an additional 1,350 shares during the last quarter. SouthState Corp increased its holdings in Rocket Companies by 2,044.8% during the 2nd quarter. SouthState Corp now owns 2,059 shares of the company’s stock worth $29,000 after purchasing an additional 1,963 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Rocket Companies by 18.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,890 shares of the company’s stock valued at $55,000 after purchasing an additional 605 shares in the last quarter. TFC Financial Management Inc. purchased a new position in shares of Rocket Companies during the 2nd quarter valued at approximately $57,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 worth $62,000 after buying an additional 816 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on RKT. Royal Bank Of Canada upped their price target on shares of Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a report on Wednesday, October 8th. Bank of America raised shares of Rocket Companies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $21.00 to $24.00 in a research report on Wednesday, September 10th. Wells Fargo & Company boosted their price objective on Rocket Companies from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Jefferies Financial Group initiated coverage on Rocket Companies in a research note on Friday. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Rocket Companies in a research report on Monday. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.32.

Insider Buying and Selling

In other Rocket Companies news, Director Matthew Rizik sold 2,500 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $18.99, for a total value of $47,475.00. Following the sale, the director directly owned 1,071,036 shares of the company’s stock, valued at $20,338,973.64. This trade represents a 0.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 25,000 shares of company stock worth $466,675. 92.64% of the stock is owned by corporate insiders.

Rocket Companies Stock Performance

Shares of NYSE RKT opened at $19.08 on Wednesday. The company has a quick ratio of 19.68, a current ratio of 19.68 and a debt-to-equity ratio of 2.16. The firm’s 50-day moving average price is $17.91 and its two-hundred day moving average price is $17.18. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $22.56. The stock has a market capitalization of $40.14 billion, a P/E ratio of 238.47 and a beta of 2.26.

Rocket Companies (NYSE:RKT) last posted its earnings results on Thursday, October 30th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.65 billion. Rocket Companies had a positive return on equity of 2.83% and a negative net margin of 1.77%.The business’s revenue was up 148.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. As a group, sell-side analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

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.