Rocket Companies, Inc. $RKT Shares Sold by Hillman Co.

Hillman Co. lowered its holdings in Rocket Companies, Inc. (NYSE:RKT) by 13.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,085,554 shares of the company’s stock after selling 173,625 shares during the period. Rocket Companies makes up 7.3% of Hillman Co.’s holdings, making the stock its 7th biggest holding. Hillman Co.’s holdings in Rocket Companies were worth $21,016,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Cloud Capital Management LLC purchased a new position in shares of Rocket Companies during the 3rd quarter worth $25,000. Miller Wealth Advisors LLC raised its holdings in Rocket Companies by 65.0% in the 3rd quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock valued at $32,000 after buying an additional 650 shares during the period. Geneos Wealth Management Inc. purchased a new stake in Rocket Companies in the 3rd quarter valued at about $38,000. Newbridge Financial Services Group Inc. lifted its position in Rocket Companies by 875.0% in the third quarter. Newbridge Financial Services Group Inc. now owns 1,950 shares of the company’s stock valued at $38,000 after buying an additional 1,750 shares during the last quarter. Finally, CX Institutional acquired a new position in Rocket Companies in the third quarter valued at about $39,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Stock Performance

Shares of Rocket Companies stock opened at $14.47 on Thursday. The stock has a market capitalization of $40.79 billion, a price-to-earnings ratio of -111.27 and a beta of 2.34. The company has a debt-to-equity ratio of 1.07, a current ratio of 70.90 and a quick ratio of 70.90. The business has a 50-day moving average of $17.12 and a 200 day moving average of $18.26. Rocket Companies, Inc. has a 12 month low of $10.94 and a 12 month high of $24.36.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. Rocket Companies had a negative net margin of 1.02% and a positive return on equity of 3.04%. The business’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. As a group, sell-side analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Insider Buying and Selling at Rocket Companies

In related news, Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $22.99, for a total value of $57,475.00. Following the completion of the transaction, the director owned 1,038,536 shares in the company, valued at approximately $23,875,942.64. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 7,500 shares of company stock valued at $167,575 in the last ninety days. Insiders own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RKT. Compass Point started coverage on shares of Rocket Companies in a research report on Tuesday, March 10th. They set a “buy” rating and a $21.00 price target for the company. Citizens Jmp started coverage on shares of Rocket Companies in a report on Wednesday, March 25th. They issued a “market perform” rating on the stock. Wells Fargo & Company increased their price objective on shares of Rocket Companies from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $20.00 to $22.00 in a report on Monday, March 16th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Rocket Companies in a research report on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.14.

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.