Bruni J V & Co. Co. Decreases Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Bruni J V & Co. Co. trimmed its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,665,735 shares of the company’s stock after selling 6,242 shares during the period. Rocket Companies makes up 3.0% of Bruni J V & Co. Co.’s portfolio, making the stock its 18th biggest position. Bruni J V & Co. Co. owned 0.08% of Rocket Companies worth $24,120,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RKT. Tennessee Valley Asset Management Partners acquired a new position in shares of Rocket Companies in the fourth quarter worth about $37,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Rocket Companies in the fourth quarter valued at $179,000. First Affirmative Financial Network boosted its stake in Rocket Companies by 18.0% during the 4th quarter. First Affirmative Financial Network now owns 13,450 shares of the company’s stock valued at $195,000 after acquiring an additional 2,052 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Rocket Companies by 232.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 16,028 shares of the company’s stock worth $240,000 after purchasing an additional 11,200 shares during the last quarter. Finally, DMC Group LLC increased its position in shares of Rocket Companies by 11.7% in the 3rd quarter. DMC Group LLC now owns 21,145 shares of the company’s stock worth $173,000 after purchasing an additional 2,217 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Stock Performance

RKT traded up $0.15 on Friday, hitting $12.35. 1,530,759 shares of the stock traded hands, compared to its average volume of 2,314,706. The business has a fifty day moving average price of $12.61 and a two-hundred day moving average price of $11.41. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $24.52 billion, a PE ratio of -77.19, a P/E/G ratio of 9.62 and a beta of 2.42. Rocket Companies, Inc. has a 52 week low of $7.17 and a 52 week high of $15.19.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $885.00 million for the quarter, compared to the consensus estimate of $762.44 million. Rocket Companies had a negative net margin of 0.41% and a negative return on equity of 3.63%. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. On average, research analysts predict that Rocket Companies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RKT has been the topic of several research reports. Keefe, Bruyette & Woods restated an “underperform” rating and set a $10.75 price objective on shares of Rocket Companies in a research note on Wednesday, January 3rd. UBS Group increased their target price on shares of Rocket Companies from $8.50 to $10.00 and gave the company a “sell” rating in a research report on Monday, February 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rocket Companies in a research note on Wednesday, January 10th. They issued a “hold” rating and a $10.00 price target for the company. Wedbush reiterated a “neutral” rating and set a $13.00 price objective on shares of Rocket Companies in a research note on Friday, February 23rd. Finally, Bank of America upped their target price on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a research report on Monday, March 18th. Six analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, Rocket Companies currently has a consensus rating of “Hold” and an average price target of $10.02.

About Rocket Companies

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.