Shares of Rocket fell to $19.19 during today's morning trading session. Despite the -6.0% change, the Large-Cap Diversified Financial company still trades 23.49% above its average analyst target price of $15.54. So there may be further downside for the Diversified Financial stock. Rocket has target prices ranging from $10.0 to $20.0 per share, and its average rating is hold.
The stock has an above average percentage of its shares sold short at 11.4%, and a short ratio of 4.17. The company's insiders own 7.04% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 73.3% of Rocket's shares being owned by this investor type.
Institutions Invested in Rocket
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-06-30 | Vanguard Group Inc | 9% | 12,096,752 | $232,136,677 |
| 2024-06-30 | FMR, LLC | 8% | 11,161,330 | $214,185,928 |
| 2024-06-30 | Boston Partners | 7% | 9,313,281 | $178,721,867 |
| 2024-06-30 | JP Morgan Chase & Company | 6% | 8,159,287 | $156,576,721 |
| 2024-06-30 | Blackrock Inc. | 4% | 5,287,260 | $101,462,522 |
| 2024-06-30 | Technology Crossover Management X, Ltd. | 3% | 4,450,000 | $85,395,502 |
| 2024-06-30 | Davis Selected Advisers, LP | 2% | 3,217,609 | $61,745,918 |
| 2024-06-30 | Balyasny Asset Management LLC | 2% | 3,036,738 | $58,275,003 |
| 2024-06-30 | State Street Corporation | 2% | 2,838,394 | $54,468,782 |
| 2024-06-30 | Wellington Management Group, LLP | 2% | 2,766,635 | $53,091,727 |
Besides an analyst belief that shares are overpriced, other market factors point to there being mixed market sentiment on Rocket.
