Rocket Companies, Inc. $RKT Shares Bought by US Bancorp DE

US Bancorp DE grew its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 81.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 6,286 shares of the company’s stock after acquiring an additional 2,824 shares during the period. US Bancorp DE’s holdings in Rocket Companies were worth $76,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bayforest Capital Ltd acquired a new stake in shares of Rocket Companies during the 1st quarter valued at $103,000. XTX Topco Ltd lifted its position in shares of Rocket Companies by 384.0% during the 1st quarter. XTX Topco Ltd now owns 147,391 shares of the company’s stock valued at $1,779,000 after acquiring an additional 116,939 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in Rocket Companies during the 1st quarter valued at $3,844,000. LPL Financial LLC raised its stake in Rocket Companies by 12.5% during the 1st quarter. LPL Financial LLC now owns 1,022,356 shares of the company’s stock valued at $12,340,000 after purchasing an additional 113,883 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Rocket Companies by 20.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,622 shares of the company’s stock valued at $551,000 after purchasing an additional 7,847 shares during the period. Institutional investors and hedge funds own 4.59% of the company’s stock.

Analysts Set New Price Targets

RKT has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Tuesday, August 5th. Jefferies Financial Group boosted their target price on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “hold” rating in a research note on Tuesday, July 22nd. Barclays boosted their target price on shares of Rocket Companies from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Wedbush reissued a “neutral” rating and set a $12.00 target price (down from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. Finally, Morgan Stanley initiated coverage on shares of Rocket Companies in a research note on Thursday, August 14th. They set an “equal weight” rating and a $16.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.04.

Rocket Companies Trading Down 3.8%

NYSE RKT opened at $17.83 on Tuesday. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The company has a current ratio of 18.74, a quick ratio of 18.74 and a debt-to-equity ratio of 2.36. The company has a market capitalization of $37.52 billion, a PE ratio of -356.60 and a beta of 2.28. The firm’s fifty day simple moving average is $15.13 and its 200-day simple moving average is $13.77.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.04 earnings per share 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 business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business posted $0.06 earnings per share. Rocket Companies’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal 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.