Soros Fund Management LLC Has $3.55 Million Holdings in Rocket Companies, Inc. $RKT

by · The Markets Daily

Soros Fund Management LLC trimmed its stake in shares of Rocket Companies, Inc. (NYSE:RKT – Free Report) by 30.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,000 shares of the company’s stock after selling 110,400 shares during the period. Soros Fund Management LLC’s holdings in Rocket Companies were worth $3,545,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Third Point LLC bought a new position in Rocket Companies during the 2nd quarter worth about $67,355,000. Maple Rock Capital Partners Inc. acquired a new position in shares of Rocket Companies during the second quarter worth about $32,984,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Rocket Companies by 23.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,339 shares of the company’s stock worth $62,000 after buying an additional 816 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Rocket Companies by 114.2% during the second quarter. Alliancebernstein L.P. now owns 2,032,000 shares of the company’s stock worth $28,814,000 after buying an additional 1,083,229 shares in the last quarter. Finally, Ilex Capital Partners UK LLP acquired a new stake in Rocket Companies in the 2nd quarter valued at approximately $499,000. 4.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RKT. Wall Street Zen downgraded Rocket Companies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Royal Bank Of Canada boosted their price objective on shares of Rocket Companies from $17.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 8th. Oppenheimer assumed coverage on shares of Rocket Companies in a research report on Thursday, November 13th. They set an “outperform” rating and a $25.00 price target on the stock. Bank of America raised shares of Rocket Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $21.00 to $24.00 in a research report on Wednesday, September 10th. Finally, Zacks Research upgraded shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.18.

Check Out Our Latest Research Report on Rocket Companies

Insider Activity

In other news, Director Matthew Rizik sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $18.78, for a total value of $46,950.00. Following the transaction, the director owned 1,096,036 shares of the company’s stock, valued at approximately $20,583,556.08. This represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 12,500 shares of company stock worth $230,250 in the last three months. Insiders own 92.64% of the company’s stock.

Rocket Companies Trading Up 0.7%

RKT stock opened at $19.37 on Friday. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $22.56. The stock has a market cap of $40.76 billion, a price-to-earnings ratio of 242.16 and a beta of 2.26. The company has a fifty day moving average price of $17.59 and a two-hundred day moving average price of $16.79. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 19.68.

Rocket Companies (NYSE:RKT – Get Free Report) last announced its earnings results on Thursday, October 30th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.65 billion. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. Rocket Companies’s revenue was up 148.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 EPS. Equities analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Rocket Companies Profile

(Free Report)

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.

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