Van ECK Associates Corp acquired a new position in Rocket Companies, Inc. (NYSE:RKT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 347,435 shares of the company’s stock, valued at approximately $6,723,000.
Other hedge funds have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its stake in Rocket Companies by 12.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 83,984 shares of the company’s stock valued at $1,625,000 after purchasing an additional 9,384 shares during the last quarter. Citigroup Inc. raised its position in shares of Rocket Companies by 12.9% in the second quarter. Citigroup Inc. now owns 75,332 shares of the company’s stock valued at $1,458,000 after buying an additional 8,610 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Rocket Companies by 38.7% in the second quarter. Rafferty Asset Management LLC now owns 76,623 shares of the company’s stock worth $1,483,000 after buying an additional 21,394 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Rocket Companies during the 2nd quarter worth approximately $2,759,000. Finally, Gratus Capital LLC boosted its stake in Rocket Companies by 10.4% during the second quarter. Gratus Capital LLC now owns 374,379 shares of the company’s stock worth $7,244,000 after buying an additional 35,266 shares during the last quarter. Institutional investors own 3.74% of the company’s stock.
RKT stock opened at $16.78 on Friday. The stock has a market capitalization of $33.35 billion and a PE ratio of 5.41. The company has a fifty day moving average of $17.45 and a 200-day moving average of $19.97. The company has a debt-to-equity ratio of 2.74, a quick ratio of 24.42 and a current ratio of 24.42. Rocket Companies, Inc. has a one year low of $16.22 and a one year high of $43.00.
RKT has been the subject of several analyst reports. Wedbush lowered Rocket Companies from a “neutral” rating to an “underperform” rating and set a $12.00 price objective for the company. in a research report on Tuesday, July 20th. Royal Bank of Canada cut their price objective on Rocket Companies from $26.00 to $24.00 and set a “sector perform” rating for the company in a research report on Friday, August 13th. Jefferies Financial Group cut shares of Rocket Companies from a “buy” rating to a “hold” rating and decreased their target price for the company from $26.00 to $18.00 in a research report on Monday, July 12th. Argus assumed coverage on shares of Rocket Companies in a research report on Tuesday, June 8th. They set a “buy” rating and a $23.00 price target for the company. Finally, Barclays dropped their target price on shares of Rocket Companies from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Friday, August 13th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.37.
Rocket Companies Profile
Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and eCommerce businesses in the United States and Canada. It operates in 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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to national car rental and online car purchasing platforms; and Rocket Loans, an online-based personal loans business.
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