Rhumbline Advisers Has $1.76 Million Holdings in Rocket Companies, Inc. (NYSE:RKT)

Rhumbline Advisers raised its holdings in Rocket Companies, Inc. (NYSE:RKT) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 128,232 shares of the company’s stock after buying an additional 6,802 shares during the quarter. Rhumbline Advisers’ holdings in Rocket Companies were worth $1,757,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RKT. Charles Schwab Investment Management Inc. lifted its stake in Rocket Companies by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 716,974 shares of the company’s stock valued at $10,382,000 after buying an additional 35,470 shares during the period. Principal Securities Inc. acquired a new position in Rocket Companies in the fourth quarter valued at approximately $26,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Rocket Companies by 27.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 16,226 shares of the company’s stock worth $235,000 after purchasing an additional 3,533 shares during the period. HCR Wealth Advisors raised its position in shares of Rocket Companies by 9.2% during the fourth quarter. HCR Wealth Advisors now owns 76,295 shares of the company’s stock worth $1,105,000 after purchasing an additional 6,423 shares during the period. Finally, Bank of Nova Scotia acquired a new position in shares of Rocket Companies during the fourth quarter worth approximately $1,852,000. 4.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wedbush upped their target price on Rocket Companies from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upped their target price on Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Bank of America upped their target price on Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on Rocket Companies from $13.50 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Finally, UBS Group upped their target price on Rocket Companies from $11.50 to $14.00 and gave the stock a “sell” rating in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.73.

Rocket Companies Stock Down 1.8 %

Shares of NYSE:RKT opened at $18.85 on Friday. The company has a market capitalization of $37.48 billion, a PE ratio of 171.36 and a beta of 2.45. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18. The business has a fifty day moving average price of $18.10 and a two-hundred day moving average price of $15.08. Rocket Companies, Inc. has a 1 year low of $7.17 and a 1 year high of $21.38.

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