Mather Group LLC. Acquires 1,970 Shares of Rocket Companies, Inc. (NYSE:RKT)

Mather Group LLC. raised its position in Rocket Companies, Inc. (NYSE:RKT) by 312.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,601 shares of the company’s stock after purchasing an additional 1,970 shares during the period. Mather Group LLC.’s holdings in Rocket Companies were worth $31,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. AXQ Capital LP increased its stake in Rocket Companies by 125.7% in the fourth quarter. AXQ Capital LP now owns 146,691 shares of the company’s stock valued at $1,652,000 after purchasing an additional 81,695 shares in the last quarter. GAMMA Investing LLC increased its stake in Rocket Companies by 2,101.4% in the first quarter. GAMMA Investing LLC now owns 47,133 shares of the company’s stock valued at $569,000 after purchasing an additional 44,992 shares in the last quarter. Hsbc Holdings PLC increased its stake in Rocket Companies by 875.5% in the fourth quarter. Hsbc Holdings PLC now owns 145,485 shares of the company’s stock valued at $1,634,000 after purchasing an additional 130,571 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Rocket Companies in the first quarter valued at approximately $583,000. Finally, Aquatic Capital Management LLC increased its stake in Rocket Companies by 54.5% in the fourth quarter. Aquatic Capital Management LLC now owns 173,754 shares of the company’s stock valued at $1,956,000 after purchasing an additional 61,265 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

RKT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Wednesday, April 2nd. Wedbush reissued a “neutral” rating and set a $12.00 price objective (down previously from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. UBS Group increased their price objective on shares of Rocket Companies from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. Keefe, Bruyette & Woods lowered their price objective on shares of Rocket Companies from $15.00 to $13.00 and set a “market perform” rating for the company in a research report on Monday, May 12th. Finally, The Goldman Sachs Group increased their price objective on shares of Rocket Companies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $14.38.

Rocket Companies Stock Performance

Shares of RKT opened at $14.24 on Monday. Rocket Companies, Inc. has a 12 month low of $10.06 and a 12 month high of $21.38. The firm has a fifty day simple moving average of $13.13 and a 200 day simple moving average of $12.85. The stock has a market capitalization of $28.47 billion, a price-to-earnings ratio of -474.53 and a beta of 2.28. The company has a current ratio of 12.62, a quick ratio of 12.62 and a debt-to-equity ratio of 1.37.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Rocket Companies had a net margin of 0.06% and a return on equity of 3.61%. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 earnings per share. Research analysts forecast that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal 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.