Vise Technologies Inc. Purchases 66,234 Shares of Rocket Companies, Inc. $RKT

Vise Technologies Inc. acquired a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 66,234 shares of the company’s stock, valued at approximately $762,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amundi grew its holdings in shares of Rocket Companies by 152.1% during the 1st quarter. Amundi now owns 13,725,878 shares of the company’s stock worth $195,594,000 after purchasing an additional 8,280,463 shares in the last quarter. Andra AP fonden raised its stake in shares of Rocket Companies by 48.0% in the 1st quarter. Andra AP fonden now owns 729,357 shares of the company’s stock valued at $10,393,000 after buying an additional 236,632 shares in the last quarter. Swiss National Bank raised its position in Rocket Companies by 7.2% in the first quarter. Swiss National Bank now owns 2,696,000 shares of the company’s stock worth $38,418,000 after purchasing an additional 180,500 shares in the last quarter. Maple Rock Capital Partners Inc. raised its position in Rocket Companies by 76.9% in the second quarter. Maple Rock Capital Partners Inc. now owns 5,543,600 shares of the company’s stock worth $87,312,000 after purchasing an additional 2,410,400 shares in the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Rocket Companies during the second quarter valued at approximately $67,795,000. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Stock Up 1.0%

Shares of NYSE:RKT opened at $15.21 on Tuesday. The company has a quick ratio of 4.85, a current ratio of 3.77 and a debt-to-equity ratio of 1.02. The firm has a market cap of $43.08 billion, a P/E ratio of 33.81, a P/E/G ratio of 4.54 and a beta of 2.27. Rocket Companies, Inc. has a 12 month low of $10.18 and a 12 month high of $24.36. The company’s 50-day moving average price is $12.44 and its two-hundred day moving average price is $14.52.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Rocket Companies had a net margin of 11.14% and a return on equity of 5.33%. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the firm earned $0.07 earnings per share. Rocket Companies’s revenue was up 37.4% compared to the same quarter last year. As a group, research analysts forecast that Rocket Companies, Inc. will post 0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RKT shares. Morgan Stanley set a $16.00 price target on Rocket Companies and gave the company an “overweight” rating in a research note on Monday, October 12th. Keefe, Bruyette & Woods dropped their target price on shares of Rocket Companies from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. Royal Bank Of Canada reduced their price target on shares of Rocket Companies from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Friday, October 30th. Stephens dropped their price objective on shares of Rocket Companies from $22.50 to $20.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, Benchmark cut their target price on shares of Rocket Companies from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.75.

Insider Transactions at Rocket Companies

In other Rocket Companies news, CEO Jesse Bray sold 225,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $13.75, for a total transaction of $3,093,750.00. Following the transaction, the chief executive officer directly owned 7,503,027 shares in the company, valued at approximately $103,166,621.25. This represents a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 675,000 shares of company stock valued at $8,780,824 in the last quarter. 57.68% of the stock is owned by company insiders.

About Rocket Companies

Rocket Companies is a Detroit-based financial technology company whose businesses help consumers navigate homeownership and personal finance. Its services include mortgage lending and refinancing, online real estate search, title and closing services, and personal loans.

Its flagship business, Rocket Mortgage, offers a digital mortgage application and lending process. Other brands include Rocket Homes, which connects homebuyers with real estate services, and Amrock, which provides title, settlement, and valuation services.