Rocket Companies, Inc. $RKT Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP grew its stake in Rocket Companies, Inc. (NYSE:RKT) by 2,979.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 522,898 shares of the company’s stock after acquiring an additional 505,918 shares during the period. Quantbot Technologies LP’s holdings in Rocket Companies were worth $7,415,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Lincoln Capital Corp raised its position in Rocket Companies by 304.1% in the 2nd quarter. Lincoln Capital Corp now owns 270,614 shares of the company’s stock valued at $3,837,000 after purchasing an additional 203,639 shares in the last quarter. Woodline Partners LP acquired a new stake in Rocket Companies in the first quarter valued at $5,381,000. Allspring Global Investments Holdings LLC purchased a new stake in Rocket Companies during the 2nd quarter worth about $44,102,000. Charles Schwab Investment Management Inc. boosted its position in shares of Rocket Companies by 8.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,266,399 shares of the company’s stock worth $15,285,000 after acquiring an additional 103,156 shares in the last quarter. Finally, MFG Wealth Management Inc. boosted its position in shares of Rocket Companies by 37.6% during the 2nd quarter. MFG Wealth Management Inc. now owns 177,762 shares of the company’s stock worth $2,521,000 after acquiring an additional 48,560 shares in the last quarter. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Stock Down 2.7%

Rocket Companies stock opened at $19.77 on Wednesday. The stock has a 50 day moving average of $17.62 and a two-hundred day moving average of $16.52. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $22.56. The stock has a market capitalization of $41.60 billion, a price-to-earnings ratio of 247.11 and a beta of 2.26. The company has a current ratio of 19.68, a quick ratio of 19.68 and a debt-to-equity ratio of 2.16.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Rocket Companies had a positive return on equity of 2.83% and a negative net margin of 1.77%.The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the business earned $0.08 earnings per share. The company’s quarterly revenue was up 148.1% compared to the same quarter last year. As a group, research analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Insider Buying and Selling at Rocket Companies

In other Rocket Companies news, Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $19.29, for a total value of $48,225.00. Following the sale, the director owned 1,005,684 shares of the company’s stock, valued at approximately $19,399,644.36. The trade was a 0.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 7,500 shares of company stock valued at $133,650 over the last quarter. 92.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RKT. Keefe, Bruyette & Woods raised their target price on Rocket Companies from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 5th. Barclays set a $19.00 price objective on shares of Rocket Companies and gave the company a “cautious” rating in a research note on Monday, October 6th. UBS Group set a $17.00 target price on Rocket Companies and gave the stock a “neutral” rating in a research report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Rocket Companies in a research report on Monday, October 13th. Finally, Wall Street Zen cut shares of Rocket Companies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rocket Companies currently has an average rating of “Hold” and a consensus target price of $18.18.

Rocket Companies Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.