Rocket Companies, Inc. (NYSE:RKT) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. raised its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 229,639 shares of the company’s stock after purchasing an additional 5,587 shares during the period. QRG Capital Management Inc.’s holdings in Rocket Companies were worth $4,407,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RKT. Swiss National Bank increased its position in Rocket Companies by 4.1% during the 1st quarter. Swiss National Bank now owns 237,000 shares of the company’s stock valued at $3,448,000 after buying an additional 9,300 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Rocket Companies during the first quarter valued at about $2,698,000. Raymond James & Associates raised its position in shares of Rocket Companies by 48.7% in the 3rd quarter. Raymond James & Associates now owns 300,612 shares of the company’s stock valued at $5,769,000 after purchasing an additional 98,397 shares during the last quarter. Boston Partners boosted its stake in 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 in the last quarter. Finally, Bleakley Financial Group LLC purchased a new stake in Rocket Companies during the 3rd quarter worth approximately $196,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

RKT has been the subject of a number of research analyst reports. Bank of America raised their price target on shares of Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Keefe, Bruyette & Woods raised Rocket Companies from an “underperform” rating to a “market perform” rating in a research report on Monday, August 5th. Wedbush increased their price objective on Rocket Companies from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Wells Fargo & Company raised their price objective on Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada upped their target price on Rocket Companies from $16.00 to $20.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 11th. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.15.

Rocket Companies Trading Up 1.8 %

Rocket Companies stock opened at $16.29 on Wednesday. The firm has a market cap of $32.41 billion, a PE ratio of 232.75 and a beta of 2.46. Rocket Companies, Inc. has a 12 month low of $7.85 and a 12 month high of $21.38. The stock’s 50 day simple moving average is $18.36 and its two-hundred day simple moving average is $16.13. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27.

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.