Stratos Wealth Partners LTD. Has $183,000 Stake in Rocket Companies, Inc. (NYSE:RKT)

Stratos Wealth Partners LTD. trimmed its holdings in Rocket Companies, Inc. (NYSE:RKT) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,254 shares of the company’s stock after selling 2,000 shares during the period. Stratos Wealth Partners LTD.’s holdings in Rocket Companies were worth $183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RKT. The Manufacturers Life Insurance Company grew its stake in Rocket Companies by 34.0% in the second quarter. The Manufacturers Life Insurance Company now owns 25,110 shares of the company’s stock valued at $344,000 after acquiring an additional 6,377 shares during the period. CWM LLC grew its stake in Rocket Companies by 73.6% in the third quarter. CWM LLC now owns 25,154 shares of the company’s stock valued at $483,000 after acquiring an additional 10,668 shares during the period. nVerses Capital LLC acquired a new position in Rocket Companies in the third quarter valued at about $472,000. Bleakley Financial Group LLC acquired a new position in Rocket Companies in the third quarter valued at about $196,000. Finally, V Square Quantitative Management LLC acquired a new position in Rocket Companies in the third quarter valued at about $120,000. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Price Performance

NYSE:RKT opened at $13.08 on Friday. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The stock’s 50 day moving average price is $11.88 and its two-hundred day moving average price is $15.46. The firm has a market capitalization of $26.08 billion, a price-to-earnings ratio of -81.72 and a beta of 2.43. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38.

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 the consensus estimate of $0.08. The firm had revenue of $647.00 million for the quarter, compared to analyst estimates of $1.25 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The business’s revenue for the quarter was down 46.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. On average, analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on RKT shares. Bank of America upped their price objective on 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 reduced their price objective on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Keefe, Bruyette & Woods reduced their price objective on Rocket Companies from $11.50 to $10.50 and set an “underperform” rating for the company in a research report on Friday, January 3rd. JPMorgan Chase & Co. reduced their price objective on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Finally, Wedbush reaffirmed a “neutral” rating and set a $13.00 price objective (down from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, Rocket Companies presently has an average rating of “Hold” and a consensus price target of $13.50.

Rocket Companies Company Profile

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.