Rocket Companies, Inc. (NYSE:RKT) Holdings Raised by PDT Partners LLC

PDT Partners LLC lifted its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 130.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 253,936 shares of the company’s stock after acquiring an additional 143,664 shares during the period. PDT Partners LLC’s holdings in Rocket Companies were worth $4,873,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC raised its holdings in shares of Rocket Companies by 79.2% during the third quarter. Verition Fund Management LLC now owns 78,982 shares of the company’s stock worth $1,516,000 after purchasing an additional 34,895 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Rocket Companies by 2.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 283,437 shares of the company’s stock valued at $5,439,000 after buying an additional 7,824 shares during the last quarter. FORA Capital LLC acquired a new stake in Rocket Companies during the third quarter worth about $1,298,000. Townsquare Capital LLC bought a new position in Rocket Companies in the third quarter worth about $238,000. Finally, Quantbot Technologies LP lifted its holdings in Rocket Companies by 3.7% in the third quarter. Quantbot Technologies LP now owns 153,033 shares of the company’s stock worth $2,937,000 after acquiring an additional 5,438 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RKT. Wells Fargo & Company increased their price target on Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Royal Bank of Canada cut their target price on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on shares of Rocket Companies from $15.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Wedbush reaffirmed a “neutral” rating and issued a $13.00 price objective (down previously from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. Finally, UBS Group reduced their target price on shares of Rocket Companies from $14.00 to $12.50 and set a “sell” rating for the company in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $15.13.

Rocket Companies Stock Up 1.4 %

Shares of NYSE:RKT opened at $14.54 on Friday. The firm has a 50 day simple moving average of $16.46 and a 200 day simple moving average of $16.30. Rocket Companies, Inc. has a 52 week low of $9.24 and a 52 week high of $21.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The company has a market cap of $29.00 billion, a PE ratio of -90.88 and a beta of 2.46.

Rocket Companies (NYSE:RKT) last released its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) 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 analyst estimates of $1.25 billion. During the same quarter in the prior year, the company earned ($0.01) earnings per share. The company’s revenue for the quarter was down 46.2% on a year-over-year basis. As a group, research analysts expect that Rocket Companies, Inc. will post 0.16 earnings per share for the current year.

Rocket Companies 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.