Kingfisher Capital LLC Has $3.34 Million Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Kingfisher Capital LLC lessened its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 5.0% during the third quarter, Holdings Channel.com reports. The firm owned 173,904 shares of the company’s stock after selling 9,179 shares during the quarter. Kingfisher Capital LLC’s holdings in Rocket Companies were worth $3,337,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Boston Partners lifted its position in shares of Rocket Companies by 4.2% in the 1st quarter. Boston Partners now owns 9,382,173 shares of the company’s stock worth $136,462,000 after purchasing an additional 381,841 shares during the period. Renaissance Technologies LLC lifted its holdings in Rocket Companies by 26.1% in the second quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock valued at $33,821,000 after buying an additional 510,400 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Rocket Companies by 7.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company’s stock valued at $19,971,000 after acquiring an additional 72,308 shares during the last quarter. Marshall Wace LLP acquired a new stake in Rocket Companies during the 2nd quarter worth about $10,811,000. Finally, Greylin Investment Management Inc raised its position in shares of Rocket Companies by 45.7% in the 2nd quarter. Greylin Investment Management Inc now owns 355,868 shares of the company’s stock worth $4,875,000 after acquiring an additional 111,563 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

RKT has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price target on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 13th. Bank of America raised their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 14th. Piper Sandler cut their price objective on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft boosted their target price on Rocket Companies from $11.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price target on Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Five analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $15.13.

Rocket Companies Stock Up 2.0 %

Rocket Companies stock opened at $14.34 on Friday. Rocket Companies, Inc. has a fifty-two week low of $9.06 and a fifty-two week high of $21.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The firm’s 50-day simple moving average is $16.55 and its 200 day simple moving average is $16.30. The stock has a market cap of $28.60 billion, a PE ratio of -89.63 and a beta of 2.46.

Rocket Companies (NYSE:RKT) last released its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $647.00 million during the quarter, compared to analyst estimates of $1.25 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. Rocket Companies’s quarterly revenue was down 46.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. Research analysts predict that Rocket Companies, Inc. will post 0.16 EPS for the current fiscal year.

Rocket Companies Profile

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; and Rocket Loans, an online-based personal loans business.