Fidelity Management & Research Co has recently announced that it has increased stake in Rocket Companies Inc (NYSE:RKT) by 0.82%. After grabbing 11.51 million shares, the institutional investor is now in possession of 93994.0 shares of the Financial Company. The new investment brought the stake of investor firm to 8.63% having worth around $166.62 million. Moreover, Boston Partners Global Investors, increased its share by 5.81 million to have a control over 5.81 million shares. And Capital Research & Management Co raised its holdings to 346.0 shares by acquiring 3.63 million shares or 2.72% of the stake.
Rocket Companies Inc (RKT) concluded trading on Wednesday at a closing price of $12.00, with 3.63 million shares of worth about $43.51 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 15.72% during that period and On Wednesday, January 24 the price saw a loss of about -2.91%. Currently the company’s common shares owned by public are about 123.49M shares, out of which, 117.56M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 14 times over the past 12 months. They bought 1,632,732 shares in 8 of the transactions. In 6 selling transactions, insiders dumped 184,844 shares.
John Hancock III – Disciplined Va, Vanguard Total Stock Market ETF, and Fidelity Global Innovators Invest are the top 3 mutual funds which are holding stakes in Rocket Companies Inc John Hancock III – Disciplined Va is currently holding 7.0 million shares of worth totaling $101.32 million. The company recently came buying 1.11 million shares which brought its stake up to 5.25% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 0.49 million shares, after which its hold over company’s outstanding shares expand to 3.05%, leaving 4.07 million shares with the mutual fund that have a worth of about $59.0 million. Fidelity Global Innovators Invest, after buying 3.92 million shares, have now control over 2.94% of the stake in the company. It holds 0.0 shares of worth $56.77 million.
However, the stock later moved at a day high price of 12.69, or with a loss of -2.91%. Stock saw a price change of 4.53% in past 5 days and over the past one month there was a price change of -19.46%. Year-to-date (YTD), RKT shares are showing a performance of -17.13% which increased to 31.29% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.17 but also hit the highest price of $15.19 during that period. The average intraday trading volume for Rocket Companies Inc shares is 2.82 million. The stock is currently trading -8.54% below its 20-day simple moving average (SMA20), while that difference is up 4.43% for SMA50 and it goes to 23.71% higher than SMA200.
Fidelity Management & Research Co acquired 11.51 million shares of Rocket Companies Inc having value of about $166.62 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 93994.0 shares in the company valued at close to $1127928.0, or have control over 0.82% stake in the company. Rocket Companies Inc (NYSE: RKT) currently have 123.49M outstanding shares and institutions hold larger chunk of about 57.30% of that. Holding of mutual funds in the company is about 37.36% while other institutional holders and individual stake holders have control over 7.87% and 19.87% of the stake respectively.
The stock has a current market capitalization of $1.60B and its 3Y-monthly beta is at 2.42. It has posted earnings per share of -$0.21 in the same period. It has a debt-to-equity ratio of 17.62. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RKT, volatility over the week remained 4.96% while standing at 3.96% over the month.
Analysts are in expectations that Rocket Companies Inc (RKT) stock would likely to be making an EPS of -$0.04 in the current quarter, while forecast for next quarter EPS is $0 and it is $0.3 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.08 which is $0.07 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.1 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -80.16% while it is estimated to increase by 341.77% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on January 16, 2024 offering a Sell rating for the stock and assigned a target price range of between $9 and $10 to it.
