DMC Group LLC Sells 2,839 Shares of Rocket Companies, Inc. (NYSE:RKT)

DMC Group LLC cut its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,936 shares of the company’s stock after selling 2,839 shares during the period. DMC Group LLC’s holdings in Rocket Companies were worth $326,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Raymond James & Associates increased its holdings in shares of Rocket Companies by 48.7% in the third quarter. Raymond James & Associates now owns 300,612 shares of the company’s stock worth $5,769,000 after acquiring an additional 98,397 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Rocket Companies by 324.4% during the 3rd quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock worth $1,289,000 after purchasing an additional 51,336 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Rocket Companies in the third quarter valued at $1,071,000. XTX Topco Ltd acquired a new stake in Rocket Companies in the 3rd quarter valued at about $1,486,000. Finally, Entropy Technologies LP acquired a new stake in shares of Rocket Companies in the third quarter valued at approximately $875,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Price Performance

Shares of RKT opened at $12.44 on Thursday. The firm has a market cap of $24.80 billion, a PE ratio of -77.72 and a beta of 2.42. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38. The business’s 50 day moving average price is $12.19 and its two-hundred day moving average price is $15.65. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47.

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 analysts’ consensus estimates of $0.08. The company had revenue of $647.00 million for the quarter, compared to the consensus estimate of $1.25 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. Rocket Companies’s quarterly revenue was down 46.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) EPS. On average, equities analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Analysts Set New Price Targets

RKT has been the subject of several research analyst reports. Barclays reduced their target price on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, November 13th. Piper Sandler decreased their price target on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Wedbush restated a “neutral” rating and set a $13.00 price objective (down from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. Royal Bank of Canada lowered their target price on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 13th. Finally, Bank of America increased their price target on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $13.50.

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.