829,259 Shares of Rocket Companies, Inc. $RKT Purchased by GFG Capital LLC

GFG Capital LLC bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT) in the third quarter, Holdings Channel reports. The firm bought 829,259 shares of the company’s stock, valued at approximately $9,545,000. Rocket Companies comprises 2.2% of GFG Capital LLC’s holdings, making the stock its 15th biggest position.

A number of other institutional investors have also made changes to their positions in the stock. Mather Group LLC. increased its stake in Rocket Companies by 102.6% in the third quarter. Mather Group LLC. now owns 5,222 shares of the company’s stock valued at $60,000 after purchasing an additional 2,645 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Rocket Companies during the 3rd quarter valued at about $254,000. Farther Finance Advisors LLC lifted its holdings in shares of Rocket Companies by 12.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 32,318 shares of the company’s stock valued at $372,000 after purchasing an additional 3,652 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Rocket Companies in the second quarter valued at approximately $164,000. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Rocket Companies by 32.8% during the second quarter. Integrated Wealth Concepts LLC now owns 142,805 shares of the company’s stock worth $2,249,000 after acquiring an additional 35,239 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Jesse Bray sold 92,300 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $12.39, for a total transaction of $1,143,597.00. Following the sale, the chief executive officer owned 7,728,027 shares of the company’s stock, valued at $95,750,254.53. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 450,000 shares of company stock valued at $5,687,074 in the last quarter. Company insiders own 57.68% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings raised Rocket Companies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Morgan Stanley set a $16.00 target price on Rocket Companies and gave the stock an “overweight” rating in a report on Monday. Royal Bank Of Canada reissued a “sector perform” rating and issued a $16.00 price objective (up from $15.00) on shares of Rocket Companies in a report on Wednesday, August 12th. Wells Fargo & Company set a $13.00 target price on shares of Rocket Companies and gave the company an “equal weight” rating in a report on Tuesday, October 6th. Finally, Barclays dropped their price objective on Rocket Companies from $17.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Rocket Companies presently has a consensus rating of “Moderate Buy” and an average price target of $19.12.

Rocket Companies Stock Performance

NYSE:RKT opened at $10.79 on Friday. The company has a market cap of $30.54 billion, a price-to-earnings ratio of 77.05, a PEG ratio of 3.31 and a beta of 2.23. Rocket Companies, Inc. has a fifty-two week low of $10.18 and a fifty-two week high of $24.36. The company has a debt-to-equity ratio of 1.16, a quick ratio of 4.85 and a current ratio of 4.85. The stock has a fifty day moving average price of $12.92 and a 200-day moving average price of $13.83.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.81 billion. Rocket Companies had a net margin of 4.70% and a return on equity of 5.13%. The business’s revenue for the quarter was up 91.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. As a group, equities analysts anticipate that Rocket Companies, Inc. will post 0.48 EPS for the current fiscal year.

About Rocket Companies

Rocket Companies, Inc is a Detroit-based fintech platform that provides digital financial and real estate services primarily to consumers in the United States. Its operations are centered on helping customers obtain, manage and refinance home loans, while also offering related services across the homeownership and personal finance lifecycle.

The company’s principal businesses include Rocket Mortgage, a digital mortgage lender and originator; Rocket Homes, a real estate marketplace and agent-referral platform; Rocket Money, a personal finance application that helps users manage subscriptions, budgets and bills; and Rocket Loans, which provides personal loans.