51,371 Shares in Rocket Companies, Inc. $RKT Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. bought a new position in Rocket Companies, Inc. (NYSE:RKT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 51,371 shares of the company’s stock, valued at approximately $996,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new position in shares of Rocket Companies during the third quarter worth about $25,000. North Capital Inc. lifted its stake in Rocket Companies by 287.2% in the 2nd quarter. North Capital Inc. now owns 1,820 shares of the company’s stock valued at $26,000 after acquiring an additional 1,350 shares in the last quarter. SouthState Corp boosted its position in Rocket Companies by 2,044.8% during the 2nd quarter. SouthState Corp now owns 2,059 shares of the company’s stock worth $29,000 after acquiring an additional 1,963 shares during the last quarter. Miller Wealth Advisors LLC boosted its position in Rocket Companies by 65.0% during the 3rd quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock worth $32,000 after acquiring an additional 650 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in shares of Rocket Companies during the 3rd quarter worth approximately $38,000. Institutional investors own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on RKT. Jefferies Financial Group assumed coverage on shares of Rocket Companies in a report on Friday, December 19th. They set a “buy” rating and a $25.00 target price for the company. Wall Street Zen downgraded shares of Rocket Companies from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $22.00 target price (up previously from $16.00) on shares of Rocket Companies in a research report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of Rocket Companies in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods raised their price target on Rocket Companies from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.50.

Rocket Companies Stock Performance

Shares of NYSE RKT opened at $18.31 on Wednesday. The company has a current ratio of 19.68, a quick ratio of 19.68 and a debt-to-equity ratio of 2.16. The company has a market capitalization of $38.53 billion, a P/E ratio of 228.90 and a beta of 2.31. Rocket Companies, Inc. has a 12 month low of $10.94 and a 12 month high of $24.36. The stock has a 50 day moving average of $20.15 and a 200-day moving average of $18.92.

Insider Activity at Rocket Companies

In related news, Director Matthew Rizik sold 2,500 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $19.25, for a total value of $48,125.00. Following the transaction, the director owned 1,061,036 shares in the company, valued at approximately $20,424,943. This represents a 0.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 35,000 shares of company stock valued at $694,000 in the last 90 days. 92.64% of the stock is owned by insiders.

Rocket Companies Company Profile

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.