MassMutual Private Wealth & Trust FSB Has $827,000 Stock Position in Rocket Companies, Inc. $RKT

MassMutual Private Wealth & Trust FSB raised its position in Rocket Companies, Inc. (NYSE:RKT) by 12,104.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 42,717 shares of the company’s stock after buying an additional 42,367 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Rocket Companies were worth $827,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. MFG Wealth Management Inc. lifted its holdings in shares of Rocket Companies by 27.7% during the 4th quarter. MFG Wealth Management Inc. now owns 188,970 shares of the company’s stock valued at $3,658,000 after buying an additional 40,981 shares during the last quarter. Everhart Financial Group Inc. acquired a new position in Rocket Companies in the fourth quarter worth approximately $385,000. GAMMA Investing LLC increased its holdings in Rocket Companies by 133.9% in the fourth quarter. GAMMA Investing LLC now owns 57,578 shares of the company’s stock worth $1,115,000 after buying an additional 32,958 shares during the last quarter. AIA Group Ltd bought a new position in Rocket Companies during the third quarter valued at approximately $377,000. Finally, Hudson Bay Capital Management LP bought a new position in Rocket Companies during the third quarter valued at approximately $13,728,000. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Stock Down 6.9%

Shares of Rocket Companies stock opened at $13.64 on Monday. Rocket Companies, Inc. has a 12-month low of $10.94 and a 12-month high of $24.36. The company has a quick ratio of 70.90, a current ratio of 70.90 and a debt-to-equity ratio of 1.07. The stock has a 50 day moving average price of $18.50 and a two-hundred day moving average price of $18.61. The stock has a market capitalization of $38.45 billion, a P/E ratio of -104.88 and a beta of 2.30.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Rocket Companies had a negative net margin of 1.02% and a positive return on equity of 3.04%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm posted $0.04 earnings per share. The company’s quarterly revenue was up 52.2% compared to the same quarter last year. Equities analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RKT shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Rocket Companies in a research note on Monday, December 29th. Wells Fargo & Company raised their price target on shares of Rocket Companies from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. JPMorgan Chase & Co. began coverage on shares of Rocket Companies in a research note on Monday, January 12th. They issued a “neutral” rating and a $24.00 price objective for the company. Jefferies Financial Group began coverage on shares of Rocket Companies in a report on Friday, December 19th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised shares of Rocket Companies from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $20.00 to $22.00 in a research report on Monday, March 16th. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Rocket Companies currently has an average rating of “Hold” and an average price target of $20.80.

Insider Transactions at Rocket Companies

In related news, Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction on Monday, January 12th. The shares were sold at an average price of $22.99, for a total value of $57,475.00. Following the transaction, the director 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 legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 15,000 shares of company stock valued at $312,750. Company insiders own 92.64% of the company’s stock.

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.