Fidelity Management & Research Co recently announced the acquisition of new stake in Rocket Companies Inc (NYSE:RKT). The institutional investor has increased its shareholding in the Financial company by 0.82% to 11.51 million shares with purchase of 93994.0 shares. This fresh investment now brings its stake to 8.63% valued currently at $107.47 million. In addition, Boston Partners Global Investors, raised its holdings by 5.81 million to 5.81 million shares. And Capital Research & Management Co has lifted its position by 0.01% or 346.0 shares – to 3.63 million shares.
Currently, there are 123.49M common shares owned by the public and among those 117.56M shares have been available to trade.
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Insiders at the company have transacted a total of 19 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 1,646,232 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 184,844 shares.
The top 3 mutual fund holders in Rocket Companies Inc are John Hancock III – Disciplined Va, Fidelity Global Innovators Invest, and American Funds Growth Fund of Ame. John Hancock III – Disciplined Va owns 5.89 million shares of the company’s stock, all valued at over $55.0 million. The company bought an additional 1.45 million shares recently to bring their total holdings to about 4.41% of the shares outstanding. American Funds Growth Fund of Ame sold 12008.0 shares to bring its total holdings to over 3.58 million shares at a value of $33.47 million. American Funds Growth Fund of Ame now owns shares totaling to 2.69% of the shares outstanding.
However, the script later moved the day high at 14.59, up 3.00%. The company’s stock has a 5-day price change of 33.52% and 60.22% over the past three months. RKT shares are trading 106.00% year to date (YTD), with the 12-month market performance up to 81.16% higher. It has a 12-month low price of $6.63 and touched a high of $14.13 over the same period. RKT has an average intraday trading volume of 2.39 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 38.55%, 61.42%, and 57.32% respectively.
Institutional ownership of Rocket Companies Inc (NYSE: RKT) shares accounts for 57.23% of the company’s 123.49M shares outstanding. Mutual fund holders own 34.40%, while other institutional holders and individual stakeholders account for 7.87% and 22.86% respectively.
It has a market capitalization of $1.92B and a beta (3y monthly) value of 2.40. The earnings-per-share (ttm) stands at -$0.21. The company has a debt-to-equity ratio at 17.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.89% over the week and 4.39% over the month.
Analysts forecast that Rocket Companies Inc (RKT) will achieve an EPS of -$0.04 for the current quarter, $0 for the next quarter and $0.32 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.09 while analysts give the company a high EPS estimate of $0.07. Comparatively, EPS for the current quarter was -$0.1 a year ago. Earnings per share for the fiscal year are expected to decrease by -73.95%, and 360.99% over the next financial year.
Looking at the support for the RKT, a number of firms have released research notes about the stock. UBS stated their Sell rating for the stock in a research note on December 06, 2023, with the firm’s price target at $8.50.
