Rocket Companies, Inc. (NYSE:RKT) Shares Sold by Brooktree Capital Management

Brooktree Capital Management lessened its holdings in Rocket Companies, Inc. (NYSE:RKT) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 111,919 shares of the company’s stock after selling 1,472 shares during the quarter. Rocket Companies accounts for approximately 1.7% of Brooktree Capital Management’s holdings, making the stock its 17th largest holding. Brooktree Capital Management’s holdings in Rocket Companies were worth $2,148,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in shares of Rocket Companies during the third quarter valued at $39,000. Quarry LP lifted its position in Rocket Companies by 858.8% during the 2nd quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $60,000 after acquiring an additional 3,899 shares during the period. Blue Trust Inc. purchased a new stake in Rocket Companies during the 2nd quarter valued at about $61,000. EntryPoint Capital LLC acquired a new position in shares of Rocket Companies in the first quarter valued at about $77,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Rocket Companies in the third quarter worth about $120,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RKT. Morgan Stanley assumed coverage on shares of Rocket Companies in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $18.00 price target on the stock. Barclays cut their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday. Piper Sandler lowered their price target on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday. Royal Bank of Canada reduced their price objective on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday. Finally, Bank of America upped their target price on Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.17.

Rocket Companies Price Performance

Shares of NYSE RKT opened at $14.13 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 13.18 and a current ratio of 13.18. The firm has a fifty day moving average of $17.78 and a 200 day moving average of $16.27. The firm has a market cap of $28.11 billion, a PE ratio of -88.31 and a beta of 2.46. Rocket Companies, Inc. has a one year low of $8.39 and a one year high of $21.38.

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.