Barclays PLC Has $4.57 Million Stock Holdings in Rocket Companies, Inc. (NYSE:RKT)

Barclays PLC increased its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 136.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 238,323 shares of the company’s stock after purchasing an additional 137,441 shares during the quarter. Barclays PLC’s holdings in Rocket Companies were worth $4,573,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RKT. State Street Corp raised its stake in shares of Rocket Companies by 44.7% in the third quarter. State Street Corp now owns 4,108,189 shares of the company’s stock valued at $78,836,000 after acquiring an additional 1,269,795 shares during the last quarter. Renaissance Technologies LLC raised its position in Rocket Companies by 26.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock valued at $33,821,000 after purchasing an additional 510,400 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Rocket Companies by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company’s stock worth $19,971,000 after purchasing an additional 72,308 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Rocket Companies during the second quarter worth $10,811,000. Finally, Philip James Wealth Mangement LLC acquired a new stake in shares of Rocket Companies in the third quarter valued at $6,811,000. 4.59% of the stock is owned by institutional investors.

Rocket Companies Price Performance

Shares of RKT opened at $11.82 on Friday. The stock has a market cap of $23.58 billion, a P/E ratio of -73.88 and a beta of 2.38. Rocket Companies, Inc. has a 1 year low of $10.87 and a 1 year high of $21.38. The stock’s 50-day moving average price is $14.77 and its two-hundred day moving average price is $16.18. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The business had revenue of $647.00 million for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm earned ($0.01) EPS. Rocket Companies’s quarterly revenue was down 46.2% compared to the same quarter last year. On average, equities analysts predict that Rocket Companies, Inc. will post 0.16 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Royal Bank of Canada decreased their price objective 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 lowered their price target on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of Rocket Companies from $19.00 to $14.00 and set an “underweight” rating for the company in a research report on Monday, December 9th. Wedbush reiterated a “neutral” rating and issued a $13.00 price objective (down from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. Finally, Piper Sandler dropped their target price on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Six research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.92.

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.