Tennessee Valley Asset Management Partners Buys Shares of 2,550 Rocket Companies, Inc. (NYSE:RKT)

Tennessee Valley Asset Management Partners bought a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) during the 4th quarter, HoldingsChannel reports. The firm bought 2,550 shares of the company’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds also recently bought and sold shares of RKT. Oak Thistle LLC grew its stake in Rocket Companies by 29.2% during the 3rd quarter. Oak Thistle LLC now owns 35,220 shares of the company’s stock valued at $288,000 after acquiring an additional 7,960 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Rocket Companies by 43.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 53,986 shares of the company’s stock valued at $442,000 after acquiring an additional 16,464 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Rocket Companies by 623.2% during the 3rd quarter. Raymond James & Associates now owns 161,994 shares of the company’s stock valued at $1,325,000 after buying an additional 139,593 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Rocket Companies by 20.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 430,251 shares of the company’s stock valued at $3,519,000 after buying an additional 72,465 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of Rocket Companies during the 3rd quarter valued at about $833,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Up 5.6 %

RKT opened at $12.64 on Wednesday. The business has a 50 day moving average price of $12.55 and a 200 day moving average price of $11.35. Rocket Companies, Inc. has a twelve month low of $7.17 and a twelve month high of $15.19. The company has a debt-to-equity ratio of 0.92, a quick ratio of 9.78 and a current ratio of 9.78. The firm has a market cap of $25.09 billion, a P/E ratio of -78.97, a price-to-earnings-growth ratio of 9.73 and a beta of 2.41.

Rocket Companies (NYSE:RKT) last posted 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 net margin of 0.41% and a negative return on equity of 3.63%. The business had revenue of $885.00 million during the quarter, compared to the consensus estimate of $762.44 million. During the same period in the prior year, the company posted ($0.12) earnings per share. The firm’s revenue was up 29.6% compared to the same quarter last year. Research analysts forecast that Rocket Companies, Inc. will post 0.24 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Bank of America lifted their price target on Rocket Companies from $7.00 to $8.00 and gave the company an “underperform” rating in a report on Monday, March 18th. Deutsche Bank Aktiengesellschaft assumed coverage on Rocket Companies in a report on Wednesday, January 10th. They set a “hold” rating and a $10.00 price target for the company. Citigroup lifted their price target on Rocket Companies from $10.00 to $11.00 and gave the company a “sell” rating in a report on Wednesday, February 28th. Wells Fargo & Company reduced their price target on Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, February 23rd. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $10.75 price target on shares of Rocket Companies in a report on Wednesday, January 3rd. Six equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.