Rocket Companies, Inc. (NYSE:RKT) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC lifted its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 804.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 315,764 shares of the company’s stock after acquiring an additional 280,847 shares during the period. Tidal Investments LLC’s holdings in Rocket Companies were worth $6,060,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Capital Performance Advisors LLP purchased a new position in Rocket Companies during the 3rd quarter worth $39,000. Quarry LP raised its holdings 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. acquired a new stake in shares of Rocket Companies during the second quarter worth about $61,000. V Square Quantitative Management LLC purchased a new position in shares of Rocket Companies during the third quarter worth about $120,000. Finally, International Assets Investment Management LLC increased its position in Rocket Companies by 3,429.7% in the 3rd quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock valued at $142,000 after acquiring an additional 7,168 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Stock Down 3.2 %

RKT stock opened at $12.11 on Friday. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The company’s 50-day moving average price is $15.34 and its 200 day moving average price is $16.23. Rocket Companies, Inc. has a 52 week low of $10.87 and a 52 week high of $21.38. The company has a market cap of $24.16 billion, a P/E ratio of -75.69 and a beta of 2.38.

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

Analyst Ratings Changes

Several research analysts have weighed in on RKT shares. Bank of America lifted their target price on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 14th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $11.50 price objective (down from $16.00) on shares of Rocket Companies in a research report on Tuesday. Wedbush restated a “neutral” rating and set a $13.00 price objective (down previously from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their target price on shares of Rocket Companies from $19.00 to $14.00 and set an “underweight” rating for the company in a research note on Monday, December 9th. Finally, UBS Group dropped their price target on shares of Rocket Companies from $14.00 to $12.50 and set a “sell” rating on the stock in a research note on Thursday, November 14th. Six analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.33.

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.