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

Quantbot Technologies LP grew its stake in Rocket Companies, Inc. (NYSE:RKT) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,033 shares of the company’s stock after acquiring an additional 5,438 shares during the period. 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.

Other institutional investors also recently modified their holdings of the company. Kingsview Wealth Management LLC bought a new stake in shares of Rocket Companies during the third quarter worth approximately $235,000. Cerity Partners LLC raised its stake in shares of 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 buying an additional 14,340 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 buying an additional 72,308 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Rocket Companies by 324.4% during the third quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock worth $1,289,000 after buying an additional 51,336 shares during the last quarter. Finally, Aigen Investment Management LP raised its stake 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 worth $479,000 after buying an additional 6,922 shares during the last quarter. 4.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RKT. Wedbush reissued a “neutral” rating and set a $13.00 price target (down from $18.00) on shares of Rocket Companies in a research note on Wednesday, November 13th. Bank of America boosted their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 14th. Morgan Stanley started coverage on shares of Rocket Companies in a research note on Tuesday, November 5th. They issued an “equal weight” rating and a $18.00 target price for the company. Keefe, Bruyette & Woods lowered their target price on shares of 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. Finally, Barclays lowered their target price on shares of 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 analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.13.

Rocket Companies Stock Up 2.0 %

Rocket Companies stock opened at $14.34 on Thursday. Rocket Companies, Inc. has a twelve month low of $9.06 and a twelve month high of $21.38. The company has a 50 day moving average of $16.64 and a 200-day moving average of $16.31. The stock has a market capitalization of $28.60 billion, a PE ratio of -89.63 and a beta of 2.46. 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 (NYSE:RKT) last announced its earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, hitting 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 business had revenue of $647.00 million during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The firm’s revenue was down 46.2% on a year-over-year basis. On average, equities research analysts anticipate that Rocket Companies, Inc. will post 0.16 EPS for the current fiscal 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.