Rocket Companies, Inc. $RKT Shares Bought by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC increased its stake in Rocket Companies, Inc. (NYSE:RKT) by 406.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 254,357 shares of the company’s stock after acquiring an additional 204,111 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Rocket Companies were worth $2,928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Rocket Companies in the first quarter valued at about $34,000. Summit Securities Group LLC purchased a new stake in shares of Rocket Companies during the first quarter worth about $60,000. IFP Advisors Inc acquired a new position in shares of Rocket Companies during the 3rd quarter worth about $53,000. Hilltop National Bank raised its position in shares of Rocket Companies by 44,581.8% during the 2nd quarter. Hilltop National Bank now owns 4,915 shares of the company’s stock worth $77,000 after purchasing an additional 4,904 shares during the last quarter. Finally, Mather Group LLC. raised its position in shares of Rocket Companies by 102.6% during the 3rd quarter. Mather Group LLC. now owns 5,222 shares of the company’s stock worth $60,000 after purchasing an additional 2,645 shares during the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rocket Companies news, CEO Jesse Bray sold 92,300 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $12.39, for a total value of $1,143,597.00. Following the transaction, the chief executive officer directly 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 document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 450,000 shares of company stock valued at $5,687,074. 57.68% of the stock is currently owned by corporate insiders.

Rocket Companies Price Performance

Shares of NYSE RKT opened at $11.12 on Thursday. The firm has a 50-day simple moving average of $12.74 and a 200-day simple moving average of $13.76. The company has a quick ratio of 4.85, a current ratio of 4.85 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $31.50 billion, a price-to-earnings ratio of 79.46, a price-to-earnings-growth ratio of 3.36 and a beta of 2.23. Rocket Companies, Inc. has a 52 week low of $10.18 and a 52 week high of $24.36.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on RKT shares. Stephens lowered their price objective on Rocket Companies from $22.50 to $20.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Keefe, Bruyette & Woods reduced their target price on Rocket Companies from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, August 10th. Benchmark reduced their target price on Rocket Companies from $21.00 to $19.00 and set a “buy” rating for the company in a report on Friday, August 7th. Weiss Ratings upgraded Rocket Companies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, Wells Fargo & Company set a $13.00 price target on Rocket Companies and gave the stock an “equal weight” rating in a research note on Tuesday, October 6th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.12.

Rocket Companies Company Profile

Rocket Companies, Inc is a Detroit-based financial technology company that operates a portfolio of consumer finance and real estate businesses. Its platform is designed to simplify the homeownership process through digital applications, automated workflows and online customer support.

The company’s principal business is Rocket Mortgage, a residential mortgage lender and servicer offering home purchase, refinance and home equity products. Its broader portfolio includes Rocket Homes, a real estate services platform; Rocket Money, a personal finance app that helps consumers manage subscriptions, budgets and bills; Rocket Loans, which provides personal loans; and Rocket Pro, which supports mortgage brokers and other partners.

Rocket Companies traces its history to 1985, when Dan Gilbert founded Rock Financial.