Zurcher Kantonalbank Zurich Cantonalbank Purchases 8,269 Shares of Rocket Companies, Inc. (NYSE:RKT)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Rocket Companies, Inc. (NYSE:RKT) by 39.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,153 shares of the company’s stock after purchasing an additional 8,269 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rocket Companies were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. First Affirmative Financial Network raised its holdings in Rocket Companies by 18.0% in the fourth quarter. First Affirmative Financial Network now owns 13,450 shares of the company’s stock worth $195,000 after purchasing an additional 2,052 shares in the last quarter. DMC Group LLC lifted its position in Rocket Companies by 11.7% during the 3rd quarter. DMC Group LLC now owns 21,145 shares of the company’s stock valued at $173,000 after acquiring an additional 2,217 shares during the period. Tennessee Valley Asset Management Partners bought a new stake in Rocket Companies during the fourth quarter worth about $37,000. First Eagle Investment Management LLC grew its holdings in Rocket Companies by 12.0% in the third quarter. First Eagle Investment Management LLC now owns 35,149 shares of the company’s stock worth $288,000 after purchasing an additional 3,764 shares during the period. Finally, Kingfisher Capital LLC increased its stake in shares of Rocket Companies by 3.0% during the third quarter. Kingfisher Capital LLC now owns 153,098 shares of the company’s stock valued at $1,252,000 after purchasing an additional 4,478 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Stock Performance

Shares of NYSE RKT opened at $13.30 on Friday. The firm’s 50-day moving average price is $12.71 and its 200-day moving average price is $11.52. Rocket Companies, Inc. has a 52-week low of $7.17 and a 52-week high of $15.19. The company has a market cap of $26.41 billion, a PE ratio of -83.13, a PEG ratio of 9.63 and a beta of 2.43. The company has a quick ratio of 9.78, a current ratio of 9.78 and a debt-to-equity ratio of 0.92.

Rocket Companies (NYSE:RKT) last issued its earnings results on Thursday, February 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $885.00 million during the quarter, compared to analysts’ expectations of $762.44 million. Rocket Companies had a negative return on equity of 3.63% and a negative net margin of 0.41%. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.12) EPS. As a group, analysts anticipate that Rocket Companies, Inc. will post 0.26 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on RKT shares. Deutsche Bank Aktiengesellschaft assumed coverage on Rocket Companies in a research report on Wednesday, January 10th. They issued a “hold” rating and a $10.00 price target on the stock. Citigroup increased their target price on Rocket Companies from $10.00 to $11.00 and gave the stock a “sell” rating in a research note on Wednesday, February 28th. Bank of America lifted their price target on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a research report on Monday, March 18th. 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. Finally, Royal Bank of Canada lifted their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the stock a “sector perform” rating in a report on Friday. Six equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.37.

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.