29,572 Shares in Rocket Companies, Inc. (NYSE:RKT) Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC bought a new position in Rocket Companies, Inc. (NYSE:RKT) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 29,572 shares of the company’s stock, valued at approximately $567,000.

A number of other large investors have also added to or reduced their stakes in RKT. Vanguard Group Inc. lifted its stake in shares of Rocket Companies by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock valued at $169,457,000 after buying an additional 1,101,325 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Rocket Companies during the 2nd quarter valued at $10,811,000. Renaissance Technologies LLC lifted its stake in shares of Rocket Companies by 26.1% during the 2nd quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock valued at $33,821,000 after buying an additional 510,400 shares in the last quarter. Boston Partners lifted its stake in shares of Rocket Companies by 4.2% during the 1st quarter. Boston Partners now owns 9,382,173 shares of the company’s stock valued at $136,462,000 after buying an additional 381,841 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Rocket Companies in the 1st quarter worth $2,698,000. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Price Performance

Shares of RKT stock opened at $16.10 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18. The company has a market capitalization of $32.03 billion, a P/E ratio of 230.03 and a beta of 2.44. The company’s 50-day simple moving average is $18.56 and its two-hundred day simple moving average is $16.00. Rocket Companies, Inc. has a one year low of $7.20 and a one year high of $21.38.

Rocket Companies (NYSE:RKT) last issued its earnings results on Thursday, August 1st. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.22 billion. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. As a group, equities analysts anticipate that Rocket Companies, Inc. will post 0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RKT. Barclays boosted their price target on shares of Rocket Companies from $10.00 to $14.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Rocket Companies from $11.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. UBS Group upped their target price on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a research report on Monday, September 16th. Wedbush upped their target price on shares of Rocket Companies from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada upped their target price on shares of Rocket Companies from $16.00 to $20.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 11th. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.89.

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.