Stratos Wealth Partners LTD. Buys 8,463 Shares of Rocket Companies, Inc. (NYSE:RKT)

Stratos Wealth Partners LTD. boosted its stake in Rocket Companies, Inc. (NYSE:RKT) by 52.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,717 shares of the company’s stock after acquiring an additional 8,463 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Rocket Companies were worth $298,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. AXQ Capital LP boosted its holdings in Rocket Companies by 125.7% in the 4th 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 during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Rocket Companies during the first quarter valued at $281,000. GAMMA Investing LLC raised its stake in shares of Rocket Companies by 2,101.4% during the first quarter. GAMMA Investing LLC now owns 47,133 shares of the company’s stock valued at $569,000 after acquiring an additional 44,992 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Rocket Companies by 875.5% during the fourth quarter. Hsbc Holdings PLC now owns 145,485 shares of the company’s stock valued at $1,634,000 after acquiring an additional 130,571 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in Rocket Companies during the first quarter worth $583,000. 4.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RKT. Keefe, Bruyette & Woods boosted their price target on shares of Rocket Companies from $13.00 to $14.00 and gave the stock a “market perform” rating in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, April 2nd. Wedbush reaffirmed a “neutral” rating and set a $12.00 target price (down previously from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. UBS Group upped their target price on shares of Rocket Companies from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. Finally, Barclays raised shares of Rocket Companies from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $10.00 to $14.00 in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.46.

Rocket Companies Stock Down 4.6%

RKT stock opened at $13.32 on Wednesday. The stock’s fifty day simple moving average is $13.30 and its two-hundred day simple moving average is $12.95. 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, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The stock has a market cap of $26.63 billion, a P/E ratio of -443.83 and a beta of 2.28.

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

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.