61,200 Shares in Rocket Companies, Inc. (NYSE:RKT) Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC bought a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) during the 4th quarter, Holdings Channel reports. The firm bought 61,200 shares of the company’s stock, valued at approximately $886,000.

Several other hedge funds have also bought and sold shares of the stock. Aigen Investment Management LP bought a new position in shares of Rocket Companies during the 3rd quarter valued at approximately $786,000. QRG Capital Management Inc. bought a new position in shares of Rocket Companies in the third quarter worth approximately $5,195,000. Bank of New York Mellon Corp increased its stake in shares of Rocket Companies by 20.3% in the third quarter. Bank of New York Mellon Corp now owns 430,251 shares of the company’s stock worth $3,519,000 after purchasing an additional 72,465 shares in the last quarter. Strs Ohio bought a new stake in shares of Rocket Companies during the 3rd quarter valued at $925,000. Finally, Boston Partners purchased a new position in shares of Rocket Companies during the 3rd quarter valued at $47,544,000. Institutional investors own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Rocket Companies in a research note on Wednesday, January 10th. They issued a “hold” rating and a $10.00 price target for the company. Bank of America boosted their price target on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, March 18th. Wedbush restated a “neutral” rating and issued a $13.00 price target on shares of Rocket Companies in a research note on Friday, February 23rd. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.50 price objective (up previously from $8.50) on shares of Rocket Companies in a research report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $10.75 target price on shares of Rocket Companies in a research report on Wednesday, January 3rd. Six research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.02.

Rocket Companies Price Performance

Rocket Companies stock opened at $11.67 on Tuesday. The company’s 50-day moving average price is $12.53 and its 200-day moving average price is $11.18. The company has a debt-to-equity ratio of 0.92, a quick ratio of 9.78 and a current ratio of 9.78. Rocket Companies, Inc. has a twelve month low of $7.17 and a twelve month high of $15.19.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Rocket Companies had a negative return on equity of 3.63% and a negative net margin of 0.41%. The company had revenue of $885.00 million for the quarter, compared to the consensus estimate of $762.44 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The company’s revenue was up 29.6% compared to the same quarter last year. Analysts predict that Rocket Companies, Inc. will post 0.24 earnings per share for the current year.

About Rocket Companies

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.