Caxton Associates LLP Takes Position in Rocket Companies, Inc. $RKT

Caxton Associates LLP bought a new stake in Rocket Companies, Inc. (NYSE:RKT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 168,357 shares of the company’s stock, valued at approximately $2,387,000.

Other institutional investors have also recently bought and sold shares of the company. Boston Partners raised its stake in shares of Rocket Companies by 6.2% in the 2nd quarter. Boston Partners now owns 14,560,706 shares of the company’s stock valued at $206,610,000 after buying an additional 856,367 shares in the last quarter. Vanguard Group Inc. increased its stake in Rocket Companies by 2.2% in the first quarter. Vanguard Group Inc. now owns 12,793,549 shares of the company’s stock valued at $154,418,000 after acquiring an additional 273,475 shares during the period. Wellington Management Group LLP increased its stake in Rocket Companies by 1.5% in the first quarter. Wellington Management Group LLP now owns 4,774,324 shares of the company’s stock valued at $57,626,000 after acquiring an additional 69,147 shares during the period. Third Point LLC acquired a new position in Rocket Companies in the second quarter worth about $67,355,000. Finally, Broad Bay Capital Management LP bought a new position in Rocket Companies during the second quarter worth about $51,585,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada upped their price objective on Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Rocket Companies in a research note on Monday, October 13th. Zacks Research upgraded shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Rocket Companies in a report on Monday, December 8th. Finally, Morgan Stanley increased their target price on shares of Rocket Companies from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Rocket Companies currently has an average rating of “Hold” and a consensus price target of $18.18.

Rocket Companies Stock Performance

Shares of NYSE:RKT opened at $18.70 on Monday. The business has a fifty day moving average of $17.61 and a 200-day moving average of $16.88. The company has a debt-to-equity ratio of 2.16, a quick ratio of 19.68 and a current ratio of 19.68. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $22.56. The firm has a market cap of $39.35 billion, a PE ratio of 233.73 and a beta of 2.26.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.65 billion. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. The firm’s quarterly revenue was up 148.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. On average, equities research analysts predict that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Companies

In related news, Director Matthew Rizik sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $18.99, for a total value of $47,475.00. Following the completion of the transaction, the director owned 1,086,036 shares in the company, valued at $20,623,823.64. The trade was a 0.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 17,500 shares of company stock valued at $325,650 over the last three months. Company insiders own 92.64% of the company’s stock.

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.