Raymond James & Associates Has $5.77 Million Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Raymond James & Associates grew its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 48.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 300,612 shares of the company’s stock after buying an additional 98,397 shares during the period. Raymond James & Associates’ holdings in Rocket Companies were worth $5,769,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank lifted its position in Rocket Companies by 4.1% in the first quarter. Swiss National Bank now owns 237,000 shares of the company’s stock worth $3,448,000 after purchasing an additional 9,300 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Rocket Companies during the 1st quarter worth approximately $2,698,000. Vanguard Group Inc. grew its position in Rocket Companies by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock valued at $169,457,000 after acquiring an additional 1,101,325 shares during the period. Boston Partners raised its stake in Rocket Companies by 4.2% during the first quarter. Boston Partners now owns 9,382,173 shares of the company’s stock worth $136,462,000 after acquiring an additional 381,841 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Rocket Companies in the 3rd quarter valued at $196,000. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Stock Performance

Shares of NYSE RKT opened at $16.10 on Friday. The stock’s fifty day moving average price is $18.56 and its two-hundred day moving average price is $16.00. The firm has a market cap of $32.03 billion, a price-to-earnings ratio of 230.00 and a beta of 2.44. Rocket Companies, Inc. has a one year low of $7.20 and a one year high of $21.38. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18.

Rocket Companies (NYSE:RKT) last released its earnings results on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.22 billion. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS. On average, equities analysts forecast that Rocket Companies, Inc. will post 0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

RKT has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a report on Monday, August 5th. Barclays increased their price target on shares of Rocket Companies from $10.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, October 8th. UBS Group raised their price target on Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a report on Monday, September 16th. Bank of America raised their price objective on shares of Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, Rocket Companies has a consensus rating of “Hold” and an average price target of $14.89.

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.