This morning we watched Rocket drop -2.0% to a price of $12.89 per share. The Large-Cap Diversified Financial company is now trading -11.07% below its average target price of $14.5. Analysts have set target prices ranging from $11.5 to $18.0 per share for Rocket, and have given the stock an average rating of hold.
The stock has an unusually large proportion of its shares sold short at 17.6%, and a short ratio of 2.6. The company's insiders own 7.48% 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 74.6% of Rocket's shares being owned by this investor type.
Institutions Invested in Rocket
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-12-31 | Vanguard Group Inc | 8% | 12,520,074 | $161,446,359 |
| 2024-12-31 | Boston Partners | 8% | 12,313,780 | $158,786,198 |
| 2024-12-31 | JPMORGAN CHASE & CO | 6% | 8,161,979 | $105,248,722 |
| 2024-12-31 | Nuveen Asset Management, LLC | 6% | 8,122,148 | $104,735,102 |
| 2024-12-31 | FMR, LLC | 4% | 6,113,848 | $78,838,072 |
| 2024-12-31 | Blackrock Inc. | 4% | 5,860,094 | $75,565,914 |
| 2024-12-31 | State Street Corporation | 4% | 5,429,530 | $70,013,791 |
| 2024-12-31 | Wellington Management Group, LLP | 3% | 4,705,177 | $60,673,259 |
| 2024-12-31 | Technology Crossover Management X, Ltd. | 3% | 4,450,000 | $57,382,752 |
| 2024-12-31 | Davis Selected Advisers, LP | 2% | 3,170,939 | $40,889,259 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Rocket.
