Los Angeles Capital Management LLC Reduces Stock Holdings in Rocket Companies, Inc. (NYSE:RKT)

Los Angeles Capital Management LLC reduced its stake in Rocket Companies, Inc. (NYSE:RKT) by 36.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,188 shares of the company’s stock after selling 69,300 shares during the period. Los Angeles Capital Management LLC’s holdings in Rocket Companies were worth $1,365,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in shares of Rocket Companies by 48.7% in the third quarter. Raymond James & Associates now owns 300,612 shares of the company’s stock valued at $5,769,000 after acquiring an additional 98,397 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Rocket Companies by 26.8% in the third quarter. Private Advisor Group LLC now owns 14,798 shares of the company’s stock valued at $284,000 after acquiring an additional 3,129 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Rocket Companies by 3,429.7% in the third quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock valued at $142,000 after acquiring an additional 7,168 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Rocket Companies by 14.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,566 shares of the company’s stock valued at $433,000 after acquiring an additional 2,766 shares during the period. Finally, SteelPeak Wealth LLC acquired a new stake in shares of Rocket Companies in the third quarter valued at approximately $567,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on RKT. Piper Sandler decreased their price objective on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Keefe, Bruyette & Woods decreased their price objective on Rocket Companies from $11.50 to $10.50 and set an “underperform” rating for the company in a report on Friday, January 3rd. Bank of America increased their price objective on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 14th. Morgan Stanley decreased their price target on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Finally, Barclays decreased their price target on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, Rocket Companies currently has a consensus rating of “Hold” and an average price target of $13.71.

Rocket Companies Trading Up 9.4 %

NYSE:RKT opened at $14.04 on Friday. The stock has a fifty day moving average price of $12.06 and a two-hundred day moving average price of $15.17. The stock has a market capitalization of $28.00 billion, a price-to-earnings ratio of -87.72 and a beta of 2.43. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38.

Rocket Companies 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.