Cerity Partners LLC Acquires 14,340 Shares of Rocket Companies, Inc. (NYSE:RKT)

Cerity Partners LLC increased its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 85.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 31,190 shares of the company’s stock after purchasing an additional 14,340 shares during the period. Cerity Partners LLC’s holdings in Rocket Companies were worth $599,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RKT. Marshall Wace LLP acquired a new stake in shares of Rocket Companies in the second quarter valued at approximately $10,811,000. Renaissance Technologies LLC raised its position 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 valued at $33,821,000 after buying an additional 510,400 shares in the last quarter. Philip James Wealth Mangement LLC acquired a new stake in shares of Rocket Companies in the third quarter valued at approximately $6,811,000. Los Angeles Capital Management LLC acquired a new stake in shares of Rocket Companies in the third quarter valued at approximately $3,655,000. Finally, AQR Capital Management LLC raised its position in shares of Rocket Companies by 306.3% in the second quarter. AQR Capital Management LLC now owns 197,592 shares of the company’s stock valued at $2,707,000 after buying an additional 148,965 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RKT shares. Keefe, Bruyette & Woods dropped their price objective on Rocket Companies from $20.00 to $16.00 and set a “market perform” rating for the company in a research report on Thursday, November 14th. UBS Group dropped their target price on shares of Rocket Companies from $14.00 to $12.50 and set a “sell” rating for the company in a report on Thursday, November 14th. Morgan Stanley assumed coverage on shares of Rocket Companies in a report on Tuesday, November 5th. They set an “equal weight” rating and a $18.00 price target on the stock. Royal Bank of Canada dropped their price objective on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.13.

Rocket Companies Stock Up 0.5 %

RKT stock opened at $13.57 on Friday. Rocket Companies, Inc. has a twelve month low of $10.08 and a twelve month high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The firm has a market cap of $27.07 billion, a PE ratio of -84.81 and a beta of 2.38. The business has a 50 day moving average of $15.93 and a 200 day moving average of $16.28.

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