Rocket Companies, Inc. $RKT Shares Acquired by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. boosted its stake in Rocket Companies, Inc. (NYSE:RKT) by 28.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 300,743 shares of the company’s stock after acquiring an additional 66,758 shares during the period. Rocket Companies accounts for about 1.7% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 17th biggest position. Peregrine Asset Advisers Inc.’s holdings in Rocket Companies were worth $5,828,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new position in Rocket Companies during the second quarter worth about $44,102,000. Udine Wealth Management Inc. lifted its position in shares of Rocket Companies by 86.1% during the 3rd quarter. Udine Wealth Management Inc. now owns 168,070 shares of the company’s stock valued at $3,257,000 after acquiring an additional 77,736 shares during the period. Clifford Capital Partners LLC purchased a new stake in shares of Rocket Companies during the 2nd quarter worth approximately $11,487,000. Thames Capital Management LLC grew its holdings in shares of Rocket Companies by 54.3% in the 3rd quarter. Thames Capital Management LLC now owns 1,106,003 shares of the company’s stock worth $21,434,000 after acquiring an additional 389,101 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Rocket Companies by 1,330.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 197,393 shares of the company’s stock valued at $2,799,000 after purchasing an additional 183,593 shares in the last quarter. 4.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RKT. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Rocket Companies in a report on Monday, October 13th. BTIG Research reaffirmed a “buy” rating and set a $25.00 price target on shares of Rocket Companies in a research note on Wednesday, November 19th. Oppenheimer began coverage on shares of Rocket Companies in a research report on Thursday, November 13th. They issued an “outperform” rating and a $25.00 price objective on the stock. UBS Group set a $17.00 target price on shares of Rocket Companies and gave the company a “neutral” rating in a report on Friday, October 10th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Rocket Companies in a research report on Monday, January 12th. They set a “neutral” rating and a $24.00 target price for the company. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.50.

Insider Buying and Selling

In other Rocket Companies news, Director Matthew Rizik sold 2,500 shares of the business’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $22.99, for a total value of $57,475.00. Following the completion of the transaction, the director directly owned 1,038,536 shares in the company, valued at approximately $23,875,942.64. The trade was a 0.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 40,000 shares of company stock valued at $779,425. 92.64% of the stock is currently owned by insiders.

Rocket Companies Price Performance

NYSE:RKT opened at $20.30 on Wednesday. Rocket Companies, Inc. has a 12-month low of $10.94 and a 12-month high of $24.36. The firm has a market cap of $42.73 billion, a price-to-earnings ratio of 253.83 and a beta of 2.31. The company’s 50-day moving average is $20.26 and its two-hundred day moving average is $18.67. The company has a current ratio of 19.68, a quick ratio of 19.68 and a debt-to-equity ratio of 2.16.

About Rocket Companies

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.