Bruni J V & Co. Co. Has $29.46 Million Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Bruni J V & Co. Co. trimmed its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,535,084 shares of the company’s stock after selling 96,292 shares during the period. Rocket Companies accounts for about 3.3% of Bruni J V & Co. Co.’s investment portfolio, making the stock its 15th biggest holding. Bruni J V & Co. Co. owned approximately 0.08% of Rocket Companies worth $29,458,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RKT. Capital Performance Advisors LLP acquired a new stake in Rocket Companies in the third quarter worth $39,000. Quarry LP boosted its position in Rocket Companies by 858.8% during the second quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $60,000 after purchasing an additional 3,899 shares during the last quarter. Blue Trust Inc. bought a new position in shares of Rocket Companies in the second quarter valued at $61,000. EntryPoint Capital LLC bought a new position in shares of Rocket Companies in the 1st quarter valued at about $77,000. Finally, V Square Quantitative Management LLC bought a new position in Rocket Companies during the third quarter worth about $120,000. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Price Performance

Shares of RKT stock opened at $13.43 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The business’s 50-day moving average price is $17.43 and its 200-day moving average price is $16.32. Rocket Companies, Inc. has a 12 month low of $8.81 and a 12 month high of $21.38.

Rocket Companies (NYSE:RKT) last posted its earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The business had revenue of $647.00 million for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the company earned ($0.01) EPS. The firm’s revenue was down 46.2% compared to the same quarter last year. As a group, equities analysts expect that Rocket Companies, Inc. will post 0.22 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on RKT. Bank of America raised their price target on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 14th. UBS Group cut their target price on shares of Rocket Companies from $14.00 to $12.50 and set a “sell” rating for the company in a research note on Thursday, November 14th. Royal Bank of Canada decreased their price target on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 13th. Keefe, Bruyette & Woods lowered their price objective on Rocket Companies from $20.00 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Finally, Morgan Stanley assumed coverage on shares of Rocket Companies in a research report on Tuesday, November 5th. They issued an “equal weight” rating and a $18.00 price target for the company. Five investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.13.

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.