State of New Jersey Common Pension Fund D Purchases New Holdings in Rocket Companies, Inc. (NYSE:RKT)

State of New Jersey Common Pension Fund D acquired a new position in shares of Rocket Companies, Inc. (NYSE:RKT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 95,456 shares of the company’s stock, valued at approximately $1,832,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank boosted its stake in Rocket Companies by 4.1% during the first quarter. Swiss National Bank now owns 237,000 shares of the company’s stock worth $3,448,000 after buying an additional 9,300 shares in the last quarter. EntryPoint Capital LLC bought a new position in Rocket Companies during the first quarter worth about $77,000. Price T Rowe Associates Inc. MD boosted its holdings in Rocket Companies by 7.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,389 shares of the company’s stock valued at $836,000 after purchasing an additional 3,858 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Rocket Companies in the 1st quarter valued at approximately $176,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Rocket Companies in the 1st quarter worth approximately $2,698,000. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Trading Down 1.3 %

Shares of RKT opened at $13.43 on Tuesday. The stock’s fifty day simple moving average is $17.43 and its 200-day simple moving average is $16.32. The firm has a market capitalization of $26.72 billion, a PE ratio of -83.94 and a beta of 2.46. Rocket Companies, Inc. has a 12-month low of $8.81 and a 12-month high of $21.38. The company has a quick ratio of 13.18, a current ratio of 15.47 and a debt-to-equity ratio of 1.51.

Rocket Companies (NYSE:RKT) last issued its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The company had revenue of $647.00 million for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm earned ($0.01) EPS. The company’s revenue for the quarter was down 46.2% on a year-over-year basis. As a group, research analysts predict that Rocket Companies, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RKT shares. Keefe, Bruyette & Woods lowered their price target on Rocket Companies from $20.00 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Royal Bank of Canada dropped their target price on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 13th. Morgan Stanley began coverage on shares of Rocket Companies in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $18.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Rocket Companies from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price target on Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Five analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.13.

Rocket Companies Company 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.