V Square Quantitative Management LLC Raises Stake in Rocket Companies, Inc. (NYSE:RKT)

V Square Quantitative Management LLC boosted its stake in Rocket Companies, Inc. (NYSE:RKT) by 130.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,371 shares of the company’s stock after purchasing an additional 8,127 shares during the quarter. V Square Quantitative Management LLC’s holdings in Rocket Companies were worth $162,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RKT. Raymond James & Associates raised its holdings in Rocket Companies by 48.7% in the third quarter. Raymond James & Associates now owns 300,612 shares of the company’s stock valued at $5,769,000 after acquiring an additional 98,397 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Rocket Companies by 324.4% in the 3rd quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock valued at $1,289,000 after acquiring an additional 51,336 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Rocket Companies during the third quarter valued at about $1,071,000. XTX Topco Ltd purchased a new stake in Rocket Companies during the third quarter valued at about $1,486,000. Finally, Entropy Technologies LP acquired a new position in shares of Rocket Companies in the 3rd quarter valued at about $875,000. 4.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RKT. The Goldman Sachs Group dropped their price objective on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley reduced their price objective on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. UBS Group raised Rocket Companies from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Wedbush reiterated a “neutral” rating and set a $13.00 price objective (down from $18.00) on shares of Rocket Companies in a research note on Wednesday, November 13th. Finally, Bank of America raised 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. Five investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Rocket Companies Trading Up 1.7 %

Shares of RKT stock opened at $13.08 on Tuesday. The company has a market cap of $26.08 billion, a P/E ratio of -81.72 and a beta of 2.43. The stock has a 50 day simple moving average of $11.86 and a two-hundred day simple moving average of $15.42. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38.

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.