Rocket Companies, Inc. (NYSE:RKT) Shares Purchased by Cwm LLC

Cwm LLC raised its position in Rocket Companies, Inc. (NYSE:RKT) by 73.6% during the third quarter, HoldingsChannel reports. The firm owned 25,154 shares of the company’s stock after purchasing an additional 10,668 shares during the period. Cwm LLC’s holdings in Rocket Companies were worth $483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RKT. Quarry LP raised its position in shares of Rocket Companies by 858.8% in the second quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $60,000 after buying an additional 3,899 shares during the last quarter. Blue Trust Inc. purchased a new position in Rocket Companies in the 2nd quarter worth approximately $61,000. EntryPoint Capital LLC acquired a new position in shares of Rocket Companies during the 1st quarter worth approximately $77,000. Bridges Investment Management Inc. acquired a new position in shares of Rocket Companies during the 2nd quarter worth approximately $143,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Rocket Companies in the first quarter valued at approximately $150,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 11th. 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 report on Monday, September 16th. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a report on Monday, August 5th. Wedbush raised their price target on shares of Rocket Companies from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Finally, Wells Fargo & Company upped their price objective on Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.89.

Rocket Companies Stock Performance

Shares of NYSE RKT opened at $18.01 on Friday. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $35.81 billion, a PE ratio of 163.73 and a beta of 2.44. Rocket Companies, Inc. has a twelve month low of $7.17 and a twelve month high of $21.38. The stock has a fifty day simple moving average of $19.02 and a 200-day simple moving average of $15.81.

Rocket Companies (NYSE:RKT) last released its earnings results on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.22 billion. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. Rocket Companies’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS. On average, equities analysts forecast that Rocket Companies, Inc. will post 0.23 earnings per share for the current year.

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.