Rocket Companies, Inc. $RKT Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers boosted its holdings in Rocket Companies, Inc. (NYSE:RKT) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,779 shares of the company’s stock after buying an additional 1,744 shares during the period. Cetera Investment Advisers’ holdings in Rocket Companies were worth $420,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RKT. Mather Group LLC. raised its holdings in shares of Rocket Companies by 312.2% during the 1st quarter. Mather Group LLC. now owns 2,601 shares of the company’s stock valued at $31,000 after buying an additional 1,970 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Rocket Companies by 302.2% during the first quarter. Parallel Advisors LLC now owns 2,956 shares of the company’s stock valued at $36,000 after acquiring an additional 2,221 shares during the period. GAMMA Investing LLC boosted 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 acquiring an additional 1,764 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Rocket Companies in the fourth quarter valued at $47,000. Finally, Signaturefd LLC boosted its position in shares of Rocket Companies by 147.1% in the 1st quarter. Signaturefd LLC now owns 4,372 shares of the company’s stock valued at $53,000 after purchasing an additional 2,603 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RKT shares. UBS Group set a $16.00 target price on Rocket Companies and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Keefe, Bruyette & Woods raised their price objective on Rocket Companies from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 5th. Wedbush reissued a “neutral” rating and issued a $12.00 target price (down from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. Morgan Stanley began coverage on Rocket Companies in a report on Thursday. They set an “equal weight” rating and a $16.00 price target for the company. Finally, Barclays raised their price target on Rocket Companies from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.04.

Rocket Companies Price Performance

Rocket Companies stock opened at $18.57 on Monday. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38. The company’s 50 day moving average price is $15.02 and its two-hundred day moving average price is $13.74. The company has a quick ratio of 18.74, a current ratio of 18.74 and a debt-to-equity ratio of 2.36. The stock has a market cap of $39.08 billion, a P/E ratio of -371.40 and a beta of 2.28.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.04 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 for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm posted $0.06 EPS. Rocket Companies’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current 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.