First Trust Advisors LP Acquires 658,154 Shares of Rocket Companies, Inc. (NYSE:RKT)

First Trust Advisors LP raised its holdings in shares of Rocket Companies, Inc. (NYSE:RKT – Get Rating) by 44.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,144,506 shares of the company’s stock after purchasing an additional 658,154 shares during the quarter. First Trust Advisors LP owned 0.11% of Rocket Companies worth $15,012,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RKT. FMR LLC grew its stake in shares of Rocket Companies by 134.7% in the 2nd quarter. FMR LLC now owns 3,598 shares of the company’s stock worth $26,000 after acquiring an additional 2,065 shares in the last quarter. Boston Partners bought a new stake in shares of Rocket Companies in the 3rd quarter worth $28,000. Captrust Financial Advisors grew its stake in shares of Rocket Companies by 178.2% in the 2nd quarter. Captrust Financial Advisors now owns 4,451 shares of the company’s stock worth $33,000 after acquiring an additional 2,851 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Rocket Companies by 34.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 4,828 shares of the company’s stock worth $34,000 after acquiring an additional 1,246 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of Rocket Companies by 341.4% in the 1st quarter. US Bancorp DE now owns 4,414 shares of the company’s stock worth $49,000 after acquiring an additional 3,414 shares in the last quarter. Institutional investors own 3.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RKT shares. JPMorgan Chase & Co. upped their target price on shares of Rocket Companies from $8.00 to $9.50 and gave the stock a “neutral” rating in a research note on Monday, April 17th. The Goldman Sachs Group increased their price target on shares of Rocket Companies from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, March 2nd. Citigroup increased their price target on shares of Rocket Companies from $8.00 to $9.00 in a research report on Friday, May 5th. Piper Sandler increased their price target on shares of Rocket Companies from $7.50 to $8.00 in a research report on Monday, May 8th. Finally, Credit Suisse Group restated an “underperform” rating and set a $7.00 price target on shares of Rocket Companies in a research report on Thursday, March 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Rocket Companies has a consensus rating of “Hold” and an average price target of $7.85.

Rocket Companies Price Performance

NYSE RKT opened at $8.29 on Tuesday. Rocket Companies, Inc. has a 52 week low of $5.97 and a 52 week high of $11.38. The company has a quick ratio of 12.65, a current ratio of 12.65 and a debt-to-equity ratio of 1.19. The firm’s 50-day simple moving average is $8.73 and its two-hundred day simple moving average is $8.37.

Rocket Companies (NYSE:RKT – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The business had revenue of $480.79 million for the quarter, compared to the consensus estimate of $682.67 million. Rocket Companies had a negative net margin of 0.67% and a negative return on equity of 8.63%. Research analysts predict that Rocket Companies, Inc. will post -0.16 EPS for the current year.

Rocket Companies Profile

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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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.