Rocket Companies, Inc. (NYSE:RKT) Shares Acquired by First Affirmative Financial Network

First Affirmative Financial Network increased its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,272 shares of the company’s stock after purchasing an additional 822 shares during the period. First Affirmative Financial Network’s holdings in Rocket Companies were worth $208,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Wedmont Private Capital purchased a new position in Rocket Companies during the first quarter worth about $154,000. Vanguard Group Inc. increased its holdings in Rocket Companies by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock valued at $169,457,000 after buying an additional 1,101,325 shares in the last quarter. Vima LLC purchased a new position in Rocket Companies in the fourth quarter valued at about $31,000. Kingfisher Capital LLC increased its holdings in Rocket Companies by 16.7% in the fourth quarter. Kingfisher Capital LLC now owns 178,618 shares of the company’s stock valued at $2,586,000 after buying an additional 25,520 shares in the last quarter. Finally, Capital Fund Management S.A. increased its holdings in Rocket Companies by 27.8% in the fourth quarter. Capital Fund Management S.A. now owns 502,110 shares of the company’s stock valued at $7,271,000 after buying an additional 109,278 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RKT. Citigroup increased their target price on shares of Rocket Companies from $10.00 to $11.00 and gave the company a “sell” rating in a report on Wednesday, February 28th. Piper Sandler raised their price objective on shares of Rocket Companies from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. UBS Group raised their price objective on shares of Rocket Companies from $8.50 to $10.00 and gave the stock a “sell” rating in a research note on Monday, February 26th. Wedbush reissued a “neutral” rating and set a $13.00 price objective on shares of Rocket Companies in a research note on Friday, May 3rd. Finally, Bank of America raised their price objective on shares of Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a research note on Monday, March 18th. Six equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, Rocket Companies currently has an average rating of “Hold” and an average price target of $10.60.

Rocket Companies Stock Performance

Shares of RKT stock opened at $14.11 on Friday. The company’s fifty day simple moving average is $13.59 and its 200-day simple moving average is $12.99. Rocket Companies, Inc. has a 52 week low of $7.17 and a 52 week high of $15.81. The company has a current ratio of 12.83, a quick ratio of 12.83 and a debt-to-equity ratio of 1.20. The company has a market cap of $28.06 billion, a PE ratio of 128.28 and a beta of 2.44.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.05%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.02 billion. As a group, equities research analysts anticipate that Rocket Companies, Inc. will post 0.24 EPS for the current year.

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.