SteelPeak Wealth LLC Has $124,000 Holdings in Rocket Companies, Inc. (NYSE:RKT)

SteelPeak Wealth LLC decreased its holdings in Rocket Companies, Inc. (NYSE:RKT) by 62.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,969 shares of the company’s stock after selling 18,603 shares during the period. SteelPeak Wealth LLC’s holdings in Rocket Companies were worth $124,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. State Street Corp increased its position in Rocket Companies by 44.7% in the 3rd quarter. State Street Corp now owns 4,108,189 shares of the company’s stock worth $78,836,000 after purchasing an additional 1,269,795 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Rocket Companies by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company’s stock valued at $39,235,000 after buying an additional 12,735 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Rocket Companies by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company’s stock worth $19,971,000 after acquiring an additional 72,308 shares in the last quarter. Philip James Wealth Mangement LLC acquired a new position in shares of Rocket Companies during the 3rd quarter worth $6,811,000. Finally, Tidal Investments LLC raised its holdings in shares of Rocket Companies by 804.3% during the 3rd quarter. Tidal Investments LLC now owns 315,764 shares of the company’s stock valued at $6,060,000 after purchasing an additional 280,847 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America increased their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 14th. Piper Sandler cut their price objective on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Barclays reduced their target price on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, November 13th. The Goldman Sachs Group lowered their price target on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Royal Bank of Canada cut their target price on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.50.

Rocket Companies Trading Down 1.9 %

Shares of RKT opened at $12.60 on Friday. The stock’s 50-day moving average price is $12.17 and its 200 day moving average price is $15.63. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. The firm has a market capitalization of $25.12 billion, a price-to-earnings ratio of -78.72 and a beta of 2.42.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The business had revenue of $647.00 million for the quarter, compared to analysts’ expectations of $1.25 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. Rocket Companies’s quarterly revenue was down 46.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.01) earnings per share. As a group, research analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

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.