Rocket Companies, Inc. (NYSE:RKT) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Rocket Companies, Inc. (NYSE:RKT) by 2.8% in the third quarter, HoldingsChannel reports. The fund owned 283,437 shares of the company’s stock after purchasing an additional 7,824 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Rocket Companies were worth $5,439,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Raymond James & Associates lifted its stake in shares of Rocket Companies by 48.7% in the 3rd quarter. Raymond James & Associates now owns 300,612 shares of the company’s stock worth $5,769,000 after acquiring an additional 98,397 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Rocket Companies by 324.4% in the 3rd quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock worth $1,289,000 after purchasing an additional 51,336 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Rocket Companies in the 3rd quarter worth approximately $875,000. Philip James Wealth Mangement LLC bought a new stake in shares of Rocket Companies in the 3rd quarter worth approximately $6,811,000. Finally, Bleakley Financial Group LLC bought a new stake in shares of Rocket Companies in the 3rd quarter worth approximately $196,000. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Stock Performance

Shares of RKT opened at $12.58 on Wednesday. The company’s 50 day moving average price is $15.81 and its 200 day moving average price is $16.30. Rocket Companies, Inc. has a 52 week low of $10.35 and a 52 week high of $21.38. The company has a market capitalization of $25.09 billion, a PE ratio of -78.63 and a beta of 2.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $647.00 million for the quarter, compared to the consensus estimate of $1.25 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The firm’s revenue was down 46.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. Research analysts expect that Rocket Companies, Inc. will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RKT. UBS Group dropped their target price on shares of Rocket Companies from $14.00 to $12.50 and set a “sell” rating on the stock in a report on Thursday, November 14th. JPMorgan Chase & Co. dropped their target price on shares of Rocket Companies from $19.00 to $14.00 and set an “underweight” rating on the stock in a report on Monday. Royal Bank of Canada cut their price target on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 13th. Morgan Stanley initiated coverage on shares of Rocket Companies in a report on Tuesday, November 5th. They set an “equal weight” rating and a $18.00 price target on the stock. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $11.50 price target (down previously from $16.00) on shares of Rocket Companies in a report on Tuesday. Six research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.33.

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.