Natixis Advisors LLC raised its holdings in Rocket Companies, Inc. (NYSE:RKT – Free Report) by 1,213.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 267,031 shares of the company’s stock after acquiring an additional 246,696 shares during the quarter. Natixis Advisors LLC’s holdings in Rocket Companies were worth $5,170,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. ORG Partners LLC lifted its holdings in Rocket Companies by 22.3% in the fourth quarter. ORG Partners LLC now owns 2,857 shares of the company’s stock valued at $55,000 after acquiring an additional 520 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Rocket Companies by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock valued at $365,000 after acquiring an additional 636 shares during the period. Composition Wealth LLC lifted its holdings in Rocket Companies by 2.7% in the fourth quarter. Composition Wealth LLC now owns 25,323 shares of the company’s stock valued at $490,000 after acquiring an additional 668 shares during the period. Parallel Advisors LLC increased its position in shares of Rocket Companies by 26.1% in the third quarter. Parallel Advisors LLC now owns 3,267 shares of the company’s stock valued at $63,000 after buying an additional 677 shares in the last quarter. Finally, NewEdge Wealth LLC raised its stake in shares of Rocket Companies by 5.7% during the 4th quarter. NewEdge Wealth LLC now owns 13,204 shares of the company’s stock worth $256,000 after buying an additional 707 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on RKT shares. Barclays raised Rocket Companies from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $22.00 to $19.00 in a research note on Monday, April 6th. Zacks Research raised Rocket Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. cut their price target on Rocket Companies from $24.00 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Keefe, Bruyette & Woods cut their price target on Rocket Companies from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Finally, Compass Point started coverage on Rocket Companies in a research note on Tuesday, March 10th. They set a “buy” rating and a $21.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.93.
Rocket Companies Trading Down 2.3%
Rocket Companies stock opened at $12.36 on Tuesday. The stock has a market cap of $34.97 billion, a PE ratio of 247.20 and a beta of 2.19. The stock has a 50-day moving average price of $14.50 and a 200 day moving average price of $17.20. Rocket Companies, Inc. has a 52 week low of $12.17 and a 52 week high of $24.36. The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 1.13.
Rocket Companies (NYSE:RKT – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Rocket Companies had a return on equity of 4.30% and a net margin of 2.78%.The firm’s quarterly revenue was up 167.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 EPS. Equities research analysts predict that Rocket Companies, Inc. will post 0.65 earnings per share for the current fiscal year.
Rocket Companies Company Profile
Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.
The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.
Featured Articles
- Five stocks we like better than Rocket Companies
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
Want to see what other hedge funds are holding RKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rocket Companies, Inc. (NYSE:RKT – Free Report).
Receive News & Ratings for Rocket Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Companies and related companies with MarketBeat.com's FREE daily email newsletter.
