QRG Capital Management Inc. Raises Stock Holdings in Rocket Companies, Inc. (NYSE:RKT)

QRG Capital Management Inc. grew its holdings in Rocket Companies, Inc. (NYSE:RKT) by 2.5% in the third quarter, Holdings Channel reports. The institutional investor owned 229,639 shares of the company’s stock after acquiring an additional 5,587 shares during the quarter. QRG Capital Management Inc.’s holdings in Rocket Companies were worth $4,407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Boston Partners grew 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 valued at $136,462,000 after acquiring an additional 381,841 shares during the period. Renaissance Technologies LLC grew its position in shares of 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 purchasing an additional 510,400 shares during the period. Marshall Wace LLP purchased a new stake in shares of Rocket Companies during the second quarter worth about $10,811,000. Greylin Investment Management Inc raised its position in shares of Rocket Companies by 45.7% during the 2nd quarter. Greylin Investment Management Inc now owns 355,868 shares of the company’s stock worth $4,875,000 after purchasing an additional 111,563 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in 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 buying an additional 98,397 shares in the last quarter. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Companies Stock Up 1.8 %

Shares of NYSE RKT opened at $16.29 on Wednesday. The company has a market capitalization of $32.41 billion, a P/E ratio of 232.75 and a beta of 2.46. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18. The company has a 50 day simple moving average of $18.36 and a 200-day simple moving average of $16.13. Rocket Companies, Inc. has a 1 year low of $7.85 and a 1 year high of $21.38.

Analyst Upgrades and Downgrades

RKT has been the subject of several research reports. Bank of America boosted their price objective on Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Wedbush boosted their price target on Rocket Companies from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods upgraded Rocket Companies from an “underperform” rating to a “market perform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their target price on shares of Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada raised their price target on shares of Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 11th. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.15.

Rocket Companies Company 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.