Victory Capital Management Inc. Has $1.29 Million Position in Rocket Companies, Inc. (NYSE:RKT)

Victory Capital Management Inc. boosted its stake in Rocket Companies, Inc. (NYSE:RKT) by 324.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,161 shares of the company’s stock after purchasing an additional 51,336 shares during the quarter. Victory Capital Management Inc.’s holdings in Rocket Companies were worth $1,289,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of RKT. Aigen Investment Management LP increased its holdings in shares of Rocket Companies by 38.3% during the third quarter. Aigen Investment Management LP now owns 24,978 shares of the company’s stock valued at $479,000 after acquiring an additional 6,922 shares in the last quarter. Entropy Technologies LP bought a new stake in Rocket Companies during the third quarter worth $875,000. Versor Investments LP purchased a new position in Rocket Companies in the third quarter worth $223,000. Los Angeles Capital Management LLC bought a new position in Rocket Companies in the 3rd quarter valued at $3,655,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Rocket Companies during the 3rd quarter valued at $1,832,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RKT has been the topic of several recent research reports. Wedbush reaffirmed a “neutral” rating and set a $13.00 price objective (down from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. UBS Group decreased their price objective on Rocket Companies from $14.00 to $12.50 and set a “sell” rating on the stock in a research note on Thursday, November 14th. Wells Fargo & Company raised their target price on Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. 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 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $15.13.

Rocket Companies Stock Down 3.5 %

Shares of NYSE:RKT opened at $14.06 on Wednesday. The company has a market cap of $28.05 billion, a PE ratio of -87.88 and a beta of 2.46. Rocket Companies, Inc. has a 1 year low of $8.83 and a 1 year high of $21.38. The stock’s 50-day moving average is $16.76 and its 200 day moving average is $16.32. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business posted ($0.01) EPS. Rocket Companies’s revenue was down 46.2% compared to the same quarter last year. Sell-side analysts anticipate that Rocket Companies, Inc. will post 0.16 EPS 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.