DekaBank Deutsche Girozentrale Grows Stake in Rocket Companies, Inc. (NYSE:RKT)

DekaBank Deutsche Girozentrale lifted its stake in Rocket Companies, Inc. (NYSE:RKT) by 232.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,028 shares of the company’s stock after buying an additional 11,200 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Rocket Companies were worth $240,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Ancora Advisors LLC purchased a new position in Rocket Companies in the first quarter worth about $81,000. FMR LLC increased its position in shares of Rocket Companies by 134.7% during the second quarter. FMR LLC now owns 3,598 shares of the company’s stock valued at $26,000 after acquiring an additional 2,065 shares in the last quarter. Deutsche Bank AG raised its holdings in Rocket Companies by 658.7% in the 4th quarter. Deutsche Bank AG now owns 3,892 shares of the company’s stock worth $27,000 after acquiring an additional 3,379 shares during the last quarter. US Bancorp DE lifted its position in Rocket Companies by 341.4% in the 1st quarter. US Bancorp DE now owns 4,414 shares of the company’s stock valued at $49,000 after acquiring an additional 3,414 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in Rocket Companies by 178.2% in the 2nd quarter. Captrust Financial Advisors now owns 4,451 shares of the company’s stock valued at $33,000 after acquiring an additional 2,851 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Performance

RKT opened at $11.43 on Wednesday. The firm has a market cap of $22.70 billion, a P/E ratio of -71.44, a PEG ratio of 10.28 and a beta of 2.41. Rocket Companies, Inc. has a 1-year low of $7.17 and a 1-year high of $15.19. The company has a 50 day simple moving average of $12.53 and a two-hundred day simple moving average of $11.20. The company has a debt-to-equity ratio of 0.92, a current ratio of 9.78 and a quick ratio of 9.78.

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

Analysts Set New Price Targets

RKT has been the subject of a number of research analyst reports. Bank of America lifted their target price on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, March 18th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.50 target price (up previously from $8.50) on shares of Rocket Companies in a research report on Thursday, January 4th. Wedbush reaffirmed a “neutral” rating and set a $13.00 price target on shares of Rocket Companies in a report on Friday, February 23rd. Citigroup lifted their price target on shares of Rocket Companies from $10.00 to $11.00 and gave the stock a “sell” rating in a research note on Wednesday, February 28th. Finally, UBS Group increased their price objective on shares of Rocket Companies from $8.50 to $10.00 and gave the company a “sell” rating in a research report on Monday, February 26th. Six equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.02.

Rocket Companies Company 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.