Quantbot Technologies LP Purchases 5,438 Shares of Rocket Companies, Inc. (NYSE:RKT)

Quantbot Technologies LP boosted its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 153,033 shares of the company’s stock after buying an additional 5,438 shares during the quarter. Quantbot Technologies LP’s holdings in Rocket Companies were worth $2,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC bought a new stake in Rocket Companies during the third quarter worth $235,000. Cerity Partners LLC raised its position in Rocket Companies by 85.1% during the third quarter. Cerity Partners LLC now owns 31,190 shares of the company’s stock worth $599,000 after acquiring an additional 14,340 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Rocket Companies by 7.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company’s stock worth $19,971,000 after acquiring an additional 72,308 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Rocket Companies by 324.4% in the third quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock valued at $1,289,000 after purchasing an additional 51,336 shares during the period. Finally, Aigen Investment Management LP raised its position in shares of Rocket Companies by 38.3% in the third quarter. Aigen Investment Management LP now owns 24,978 shares of the company’s stock valued at $479,000 after purchasing an additional 6,922 shares during the period. 4.59% of the stock is owned by institutional investors.

Rocket Companies Trading Up 2.0 %

Shares of Rocket Companies stock opened at $14.34 on Thursday. The firm’s 50-day moving average price is $16.64 and its two-hundred day moving average price is $16.31. Rocket Companies, Inc. has a 12-month low of $9.06 and a 12-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 company has a market capitalization of $28.60 billion, a price-to-earnings ratio of -89.63 and a beta of 2.46.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, meeting 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 the consensus estimate of $1.25 billion. During the same period last year, the company posted ($0.01) EPS. The firm’s quarterly revenue was down 46.2% compared to the same quarter last year. On average, analysts forecast that Rocket Companies, Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RKT shares. Wedbush reissued a “neutral” rating and issued a $13.00 price objective (down from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price objective on shares of Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Morgan Stanley started coverage on shares of Rocket Companies in a research report on Tuesday, November 5th. They issued an “equal weight” rating and a $18.00 price objective 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 on the stock in a research report on Wednesday, November 13th. Finally, Bank of America increased their price objective on shares of Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 14th. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, Rocket Companies has an average rating of “Hold” and an average target price of $15.13.

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.