Zurcher Kantonalbank Zurich Cantonalbank Purchases 7,847 Shares of Rocket Companies, Inc. (NYSE:RKT)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Rocket Companies, Inc. (NYSE:RKT) by 20.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 45,622 shares of the company’s stock after acquiring an additional 7,847 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rocket Companies were worth $551,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Mather Group LLC. raised its position in Rocket Companies by 312.2% during the 1st quarter. Mather Group LLC. now owns 2,601 shares of the company’s stock worth $31,000 after purchasing an additional 1,970 shares during the last quarter. Parallel Advisors LLC raised its position in Rocket Companies by 302.2% during the 1st quarter. Parallel Advisors LLC now owns 2,956 shares of the company’s stock worth $36,000 after purchasing an additional 2,221 shares during the last quarter. GAMMA Investing LLC raised its position in Rocket Companies by 82.4% during the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company’s stock worth $47,000 after purchasing an additional 1,764 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Rocket Companies during the 4th quarter worth $47,000. Finally, Signaturefd LLC raised its position in Rocket Companies by 147.1% during the 1st quarter. Signaturefd LLC now owns 4,372 shares of the company’s stock worth $53,000 after purchasing an additional 2,603 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Stock Performance

Shares of NYSE:RKT opened at $18.16 on Thursday. The company has a market cap of $36.31 billion, a price-to-earnings ratio of -363.10 and a beta of 2.28. The company has a 50-day moving average price of $14.27 and a 200-day moving average price of $13.44. The company has a current ratio of 18.74, a quick ratio of 12.62 and a debt-to-equity ratio of 2.36. Rocket Companies, Inc. has a 12 month low of $10.06 and a 12 month high of $21.38.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $0.06 earnings per share. Rocket Companies’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. The Goldman Sachs Group raised their target price on Rocket Companies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Wedbush reaffirmed a “neutral” rating and set a $12.00 target price (down from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Barclays increased their price target on Rocket Companies from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Jefferies Financial Group increased their price target on Rocket Companies from $11.50 to $14.00 and gave the stock a “hold” rating in a report on Tuesday, July 22nd. Finally, Keefe, Bruyette & Woods increased their price target on Rocket Companies from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.79.

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.