Centiva Capital LP Buys Shares of 66,369 Rocket Companies, Inc. (NYSE:RKT)

Centiva Capital LP bought a new stake in Rocket Companies, Inc. (NYSE:RKT) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 66,369 shares of the company’s stock, valued at approximately $1,274,000.

Several other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC grew its position in Rocket Companies by 26.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock valued at $33,821,000 after acquiring an additional 510,400 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Rocket Companies by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company’s stock valued at $19,971,000 after acquiring an additional 72,308 shares in the last quarter. Marshall Wace LLP acquired a new position in Rocket Companies in the 2nd quarter valued at about $10,811,000. Greylin Investment Management Inc grew its position in Rocket Companies by 45.7% in the 2nd quarter. Greylin Investment Management Inc now owns 355,868 shares of the company’s stock valued at $4,875,000 after acquiring an additional 111,563 shares in the last quarter. Finally, Philip James Wealth Mangement LLC acquired a new position in Rocket Companies in the 3rd quarter valued at about $6,811,000. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Price Performance

RKT stock opened at $13.75 on Thursday. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. Rocket Companies, Inc. has a fifty-two week low of $9.64 and a fifty-two week high of $21.38. The business has a 50 day moving average price of $16.14 and a 200 day moving average price of $16.31. The stock has a market cap of $27.43 billion, a price-to-earnings ratio of -85.94 and a beta of 2.38.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data 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 positive return on equity of 2.86% and a negative net margin of 0.38%. The company had revenue of $647.00 million during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The firm’s revenue for the quarter was down 46.2% on a year-over-year basis. Equities research analysts anticipate that Rocket Companies, Inc. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RKT has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price objective on Rocket Companies from $20.00 to $16.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th. Morgan Stanley initiated coverage on Rocket Companies in a research note on Tuesday, November 5th. They issued an “equal weight” rating and a $18.00 price objective for the company. Bank of America lifted their price objective on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 14th. Wedbush reiterated a “neutral” rating and issued a $13.00 price objective (down previously from $18.00) on shares of Rocket Companies in a research note on Wednesday, November 13th. Finally, Barclays decreased their price objective on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.