Rocket Companies, Inc. (NYSE:RKT) Stake Raised by Atlas Capital Advisors LLC

Atlas Capital Advisors LLC boosted its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 1,682.6% in the first quarter, HoldingsChannel reports. The fund owned 17,844 shares of the company’s stock after buying an additional 16,843 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Rocket Companies were worth $260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Principal Securities Inc. purchased a new stake in shares of Rocket Companies during the fourth quarter worth $26,000. Vima LLC purchased a new stake in shares of Rocket Companies during the 4th quarter worth about $31,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Rocket Companies during the 4th quarter valued at about $37,000. Westpac Banking Corp grew its stake in shares of Rocket Companies by 61.8% in the 4th quarter. Westpac Banking Corp now owns 5,927 shares of the company’s stock valued at $86,000 after buying an additional 2,264 shares in the last quarter. Finally, Wedmont Private Capital acquired a new position in Rocket Companies in the first quarter worth approximately $154,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wedbush reiterated a “neutral” rating and issued a $13.00 target price on shares of Rocket Companies in a research note on Friday, May 3rd. Piper Sandler increased their target price on shares of Rocket Companies from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Royal Bank of Canada boosted their price target on Rocket Companies from $12.00 to $14.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. Bank of America increased their price objective on Rocket Companies from $7.00 to $8.00 and gave the company an “underperform” rating in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. upped their target price on Rocket Companies from $10.50 to $11.00 and gave the stock an “underweight” rating in a research report on Friday, May 3rd. Six research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.60.

Rocket Companies Price Performance

Shares of Rocket Companies stock opened at $13.79 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 12.83 and a quick ratio of 12.83. The company has a market cap of $27.42 billion, a PE ratio of 125.38 and a beta of 2.44. The firm has a fifty day moving average price of $13.77 and a two-hundred day moving average price of $13.07. Rocket Companies, Inc. has a fifty-two week low of $7.17 and a fifty-two week high of $15.81.

Rocket Companies (NYSE:RKT) last released its earnings results on Thursday, May 2nd. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.08. Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.05%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Analysts expect that Rocket Companies, Inc. will post 0.24 EPS 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.