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Rocket Companies Inc. (NYSE: RKT): A Good Investment At Current Prices?

Rocket Companies Inc. (NYSE:RKT)’s traded shares stood at 2.82 million during the last session. At the close of trading, the stock’s price was $8.71, to imply an increase of 2.11% or $0.18 in intraday trading. The RKT share’s 52-week high remains $11.70, putting it -34.33% down since that peak but still an impressive 31.46% since price per share fell to its 52-week low of $5.97. The company has a valuation of $17.68B, with an average of 3.59 million shares in intraday trading volume over the past 10 days and average of 3.23 million shares over the past 3 months.

Rocket Companies Inc. (NYSE:RKT) trade information

After registering a 2.11% upside in the last session, Rocket Companies Inc. (RKT) has traded red over the past five days. The stock hit a weekly high of 9.14 this Thursday, 03/16/23, jumping 2.11% in its intraday price action. The 5-day price performance for the stock is 5.07%, and -1.58% over 30 days. With these gigs, the year-to-date price performance is 24.43%. Short interest in Rocket Companies Inc. (NYSE:RKT) saw shorts transact 35.95 million shares and set a 13.03 days time to cover.

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Rocket Companies Inc. (RKT) estimates and forecasts

Looking at statistics comparing Rocket Companies Inc. share performance against respective industry, we note that the company has underperformed competitors. Rocket Companies Inc. (RKT) shares are 15.67% up over the last 6 months, with its year-to-date growth rate lower than industry average at 14.29% against 17.60%. Revenue is forecast to shrink -134.40% this quarter before falling -153.30% for the next one. The rating firms project that company’s revenue will shrink -52.40% compared to the previous financial year.

Revenue forecast for the current quarter as set by 8 analysts is $682.73 million. Meanwhile, for the quarter ending Mar 2023, a total of 6 analyst(s) estimate revenue growth to $805.81 million.Earnings reports from the last fiscal year show that sales brought in $2.59 billion and $2.67 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -73.70% before dropping -69.80% in the following quarter.

RKT Dividends

Rocket Companies Inc. has its next earnings report out between May 08 and May 12. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Rocket Companies Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Rocket Companies Inc. (NYSE:RKT)’s Major holders

Rocket Companies Inc. insiders hold 5.03% of total outstanding shares, with institutional holders owning 67.20% of the shares at 70.76% float percentage. In total, 67.20% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 10.07 million shares (or 8.27% of shares), all amounting to roughly $63.67 million.

The next major institution holding the largest number of shares is Caledonia (Private) Investments Pty Ltd with 9.25 million shares, or about 7.60% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $58.48 million.

We also have Invesco Main Street Fund and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Rocket Companies Inc. (RKT) shares. Going by data provided on Oct 30, 2022, Invesco Main Street Fund holds roughly 4.95 million shares. This is just over 4.07% of the total shares, with a market valuation of $34.17 million. Data from the same date shows that the other fund manager holds a little less at 3.23 million, or 2.66% of the shares, all valued at about 20.43 million.

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