Versor Investments LP Makes New $223,000 Investment in Rocket Companies, Inc. (NYSE:RKT)

Versor Investments LP purchased a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,600 shares of the company’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in RKT. Marshall Wace LLP purchased a new position in Rocket Companies during the 2nd quarter valued at about $10,811,000. Renaissance Technologies LLC increased its holdings in Rocket Companies by 26.1% during the second quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock valued at $33,821,000 after buying an additional 510,400 shares during the period. Boston Partners increased its holdings in Rocket Companies by 4.2% during the first quarter. Boston Partners now owns 9,382,173 shares of the company’s stock valued at $136,462,000 after buying an additional 381,841 shares during the period. Philip James Wealth Mangement LLC bought a new position in Rocket Companies in the third quarter worth approximately $6,811,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Rocket Companies during the third quarter worth $3,655,000. 4.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RKT has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Barclays reduced their target price on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Wedbush reissued a “neutral” rating and set a $13.00 target price (down previously from $18.00) on shares of Rocket Companies in a research report on Wednesday. Finally, Bank of America raised their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday. Five analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.13.

Rocket Companies Stock Down 0.4 %

Shares of RKT stock opened at $13.60 on Friday. Rocket Companies, Inc. has a fifty-two week low of $8.81 and a fifty-two week high of $21.38. The firm has a market capitalization of $27.06 billion, a PE ratio of -85.00 and a beta of 2.46. The company has a debt-to-equity ratio of 1.51, a quick ratio of 13.18 and a current ratio of 15.47. The stock’s 50-day simple moving average is $17.54 and its 200-day simple moving average is $16.29.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results 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 company had revenue of $647.00 million for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company earned ($0.01) EPS. Rocket Companies’s quarterly revenue was down 46.2% on a year-over-year basis. Equities analysts expect that Rocket Companies, Inc. will post 0.22 earnings per share for the current year.

Rocket Companies Company 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.