SG Americas Securities LLC Sells 49,031 Shares of Rocket Companies, Inc. $RKT

SG Americas Securities LLC cut its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 27.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,405 shares of the company’s stock after selling 49,031 shares during the quarter. SG Americas Securities LLC’s holdings in Rocket Companies were worth $1,858,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Truvestments Capital LLC bought a new position in shares of Rocket Companies during the fourth quarter worth about $26,000. Acumen Wealth Advisors LLC bought a new stake in Rocket Companies in the fourth quarter valued at approximately $26,000. Pinnacle Bancorp Inc. boosted its holdings in Rocket Companies by 369.7% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,503 shares of the company’s stock valued at $29,000 after acquiring an additional 1,183 shares during the last quarter. City State Bank bought a new stake in Rocket Companies in the fourth quarter valued at approximately $30,000. Finally, Smithfield Trust Co acquired a new stake in Rocket Companies during the 4th quarter valued at approximately $32,000. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Price Performance

Shares of RKT opened at $15.72 on Friday. The firm has a market cap of $44.49 billion, a PE ratio of 314.46 and a beta of 2.16. Rocket Companies, Inc. has a 52-week low of $12.17 and a 52-week high of $24.36. The business’s 50 day moving average price is $14.19 and its two-hundred day moving average price is $16.61. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.37 and a current ratio of 4.37.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. The company had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.76 billion. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The company’s quarterly revenue was up 167.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 EPS. On average, equities analysts anticipate that Rocket Companies, Inc. will post 0.63 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on RKT. Weiss Ratings upgraded shares of Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Stephens started coverage on shares of Rocket Companies in a research report on Thursday, April 23rd. They set an “overweight” rating and a $22.50 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Compass Point initiated coverage on shares of Rocket Companies in a research note on Tuesday, March 10th. They set a “buy” rating and a $21.00 target price for the company. Finally, Zacks Research upgraded shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Rocket Companies presently has a consensus rating of “Moderate Buy” and an average price target of $20.87.

Rocket Companies Company Profile

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.