10,422 Shares in Rocket Companies, Inc. (NYSE:RKT) Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. purchased a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) in the 2nd quarter, HoldingsChannel reports. The firm purchased 10,422 shares of the company’s stock, valued at approximately $143,000.

Other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its position in Rocket Companies by 17.0% in the second quarter. Canada Pension Plan Investment Board now owns 102,500 shares of the company’s stock valued at $1,404,000 after purchasing an additional 14,900 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Rocket Companies by 13.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 50,540 shares of the company’s stock valued at $692,000 after buying an additional 6,000 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Rocket Companies by 39.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,565 shares of the company’s stock valued at $295,000 after buying an additional 6,070 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Rocket Companies during the 2nd quarter valued at $1,040,000. Finally, Renaissance Technologies LLC grew its holdings in Rocket Companies by 26.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock worth $33,821,000 after acquiring an additional 510,400 shares during the last quarter. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Companies Stock Down 1.9 %

NYSE:RKT opened at $18.83 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18. The firm’s 50-day moving average price is $18.10 and its 200-day moving average price is $15.12. The company has a market capitalization of $37.44 billion, a PE ratio of 171.18 and a beta of 2.45. Rocket Companies, Inc. has a 1-year low of $7.17 and a 1-year high of $21.38.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the company earned ($0.05) earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Rocket Companies, Inc. will post 0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

RKT has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their price objective on Rocket Companies from $13.50 to $15.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their target price on Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Bank of America raised their price target on Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Finally, Keefe, Bruyette & Woods raised shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.73.

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.