Intrinsic Value Partners LLC Sells 2,500 Shares of Rocket Companies, Inc. (NYSE:RKT)

Intrinsic Value Partners LLC lessened its position in Rocket Companies, Inc. (NYSE:RKT) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,950 shares of the company’s stock after selling 2,500 shares during the period. Intrinsic Value Partners LLC’s holdings in Rocket Companies were worth $337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Rocket Companies during the 3rd quarter worth about $39,000. KBC Group NV raised its position in shares of Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company’s stock valued at $68,000 after buying an additional 2,226 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Rocket Companies in the 3rd quarter valued at approximately $120,000. Blue Trust Inc. raised its position in shares of Rocket Companies by 54.1% in the 3rd quarter. Blue Trust Inc. now owns 6,438 shares of the company’s stock valued at $124,000 after buying an additional 2,261 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Rocket Companies by 3,429.7% in the 3rd quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock valued at $142,000 after buying an additional 7,168 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Price Performance

RKT opened at $13.08 on Friday. The firm has a market cap of $26.08 billion, a P/E ratio of -81.72 and a beta of 2.43. The firm has a 50-day moving average of $11.87 and a 200 day moving average of $15.44. 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 fifty-two week low of $10.06 and a fifty-two week high of $21.38.

Rocket Companies (NYSE:RKT) last issued its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The firm had revenue of $647.00 million during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the business earned ($0.01) earnings per share. The company’s quarterly revenue was down 46.2% on a year-over-year basis. On average, research analysts expect that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RKT shares. Morgan Stanley dropped their target price on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Piper Sandler lowered their price objective on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. JPMorgan Chase & Co. lowered their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods lowered their price objective on shares of Rocket Companies from $11.50 to $10.50 and set an “underperform” rating for the company in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group lowered their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the company 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.