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

Cwm LLC lifted its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 73.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,154 shares of the company’s stock after buying an additional 10,668 shares during the period. Cwm LLC’s holdings in Rocket Companies were worth $483,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Lakeshore Financial Planning Inc. lifted its position in Rocket Companies by 8.0% during the 2nd quarter. Lakeshore Financial Planning Inc. now owns 13,496 shares of the company’s stock worth $185,000 after acquiring an additional 1,000 shares during the period. DMC Group LLC lifted its holdings in shares of Rocket Companies by 3.7% during the first quarter. DMC Group LLC now owns 29,077 shares of the company’s stock worth $423,000 after purchasing an additional 1,029 shares during the period. Arizona State Retirement System boosted its position in Rocket Companies by 6.0% in the second quarter. Arizona State Retirement System now owns 34,974 shares of the company’s stock valued at $479,000 after buying an additional 1,979 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Rocket Companies by 7.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,217 shares of the company’s stock worth $428,000 after buying an additional 2,064 shares during the period. Finally, Kingfisher Capital LLC raised its position in Rocket Companies by 1.4% during the 2nd quarter. Kingfisher Capital LLC now owns 183,083 shares of the company’s stock worth $2,508,000 after buying an additional 2,606 shares during the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Stock Performance

Shares of NYSE:RKT opened at $18.01 on Friday. The business’s 50 day moving average price is $19.02 and its 200-day moving average price is $15.81. Rocket Companies, Inc. has a 1 year low of $7.17 and a 1 year high of $21.38. The firm has a market capitalization of $35.81 billion, a price-to-earnings ratio of 163.73 and a beta of 2.44. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.22 billion. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. On average, equities research analysts forecast that Rocket Companies, Inc. will post 0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RKT shares. Bank of America upped their price objective on shares of Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Barclays upped their price target on shares of Rocket Companies from $10.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on Rocket Companies from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Royal Bank of Canada boosted their price objective on Rocket Companies from $16.00 to $20.00 and gave the company a “sector perform” rating in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. raised their target price on Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Five analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.89.

Rocket Companies 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.