First Eagle Investment Management LLC Purchases 6,000 Shares of Rocket Companies, Inc. (NYSE:RKT)

First Eagle Investment Management LLC increased its position in Rocket Companies, Inc. (NYSE:RKT) by 13.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,540 shares of the company’s stock after acquiring an additional 6,000 shares during the period. First Eagle Investment Management LLC’s holdings in Rocket Companies were worth $692,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Rocket Companies by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after acquiring an additional 1,101,325 shares during the period. Boston Partners grew its holdings in shares of Rocket Companies by 4.2% in the first quarter. Boston Partners now owns 9,382,173 shares of the company’s stock worth $136,462,000 after acquiring an additional 381,841 shares during the period. Capital World Investors grew its holdings in shares of Rocket Companies by 0.3% in the fourth quarter. Capital World Investors now owns 3,642,099 shares of the company’s stock worth $52,738,000 after acquiring an additional 10,068 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Rocket Companies by 26.1% in the second quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock worth $33,821,000 after acquiring an additional 510,400 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Rocket Companies by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 716,974 shares of the company’s stock worth $10,382,000 after acquiring an additional 35,470 shares during the period. Institutional investors own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RKT. UBS Group lifted their price objective on Rocket Companies from $11.50 to $14.00 and gave the stock a “sell” rating in a report on Monday, September 16th. Bank of America lifted their target price on Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company lifted their target price on Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on Rocket Companies from $13.50 to $15.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Finally, Barclays lifted their target price on Rocket Companies from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Tuesday, July 9th. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.73.

Rocket Companies Stock Performance

NYSE RKT opened at $18.83 on Friday. The firm has a market cap of $37.44 billion, a price-to-earnings ratio of 171.18 and a beta of 2.45. The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average price of $18.10 and a 200-day moving average price of $15.10. Rocket Companies, Inc. has a twelve month low of $7.17 and a twelve month high of $21.38.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company earned ($0.05) earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts predict that Rocket Companies, Inc. will post 0.22 EPS for the current fiscal 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.