Baltimore Washington Financial Advisors Inc. Acquires 6,069 Shares of Rocket Companies, Inc. (NYSE:RKT)

Baltimore Washington Financial Advisors Inc. increased its holdings in Rocket Companies, Inc. (NYSE:RKT) by 2.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 293,094 shares of the company’s stock after purchasing an additional 6,069 shares during the period. Baltimore Washington Financial Advisors Inc.’s holdings in Rocket Companies were worth $5,671,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of RKT. Victory Capital Management Inc. boosted its holdings in shares of Rocket Companies by 489.6% during the 1st quarter. Victory Capital Management Inc. now owns 98,009 shares of the company’s stock valued at $2,263,000 after acquiring an additional 81,387 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Rocket Companies by 22.3% in the first quarter. Envestnet Asset Management Inc. now owns 36,582 shares of the company’s stock worth $845,000 after purchasing an additional 6,668 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Rocket Companies by 28.8% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,481 shares of the company’s stock worth $427,000 after purchasing an additional 4,132 shares during the period. Alliancebernstein L.P. grew its position in Rocket Companies by 83.8% in the 1st quarter. Alliancebernstein L.P. now owns 90,580 shares of the company’s stock worth $2,091,000 after purchasing an additional 41,296 shares during the period. Finally, Rhumbline Advisers raised its stake in Rocket Companies by 2.9% during the 1st quarter. Rhumbline Advisers now owns 102,177 shares of the company’s stock valued at $2,359,000 after buying an additional 2,909 shares during the last quarter. 3.74% of the stock is owned by institutional investors and hedge funds.

NYSE RKT opened at $16.98 on Monday. The company has a quick ratio of 24.42, a current ratio of 24.42 and a debt-to-equity ratio of 2.74. Rocket Companies, Inc. has a twelve month low of $16.22 and a twelve month high of $43.00. The business has a 50-day moving average price of $17.37 and a 200-day moving average price of $19.45. The firm has a market cap of $33.74 billion and a price-to-earnings ratio of 5.48.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Thursday, August 12th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. Rocket Companies had a net margin of 2.31% and a return on equity of 94.06%. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Research analysts expect that Rocket Companies, Inc. will post 2.05 EPS for the current fiscal year.

A number of analysts recently commented on RKT shares. Wedbush cut Rocket Companies from a “neutral” rating to an “underperform” rating and set a $12.00 price objective for the company. in a research report on Tuesday, July 20th. Credit Suisse Group upped their price target on shares of Rocket Companies from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, August 13th. Royal Bank of Canada cut their target price on shares of Rocket Companies from $26.00 to $24.00 and set a “sector perform” rating for the company in a research report on Friday, August 13th. Piper Sandler increased their price target on shares of Rocket Companies from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, August 13th. Finally, Argus started coverage on shares of Rocket Companies in a research note on Tuesday, June 8th. They set a “buy” rating and a $23.00 price target on the stock. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.39.

Rocket Companies Company Profile

Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and eCommerce businesses in the United States and Canada. It operates in 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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to national car rental and online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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Institutional Ownership by Quarter for Rocket Companies (NYSE:RKT)

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