190,488 Shares in Rocket Companies, Inc. (NYSE:RKT) Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC purchased a new position in shares of Rocket Companies, Inc. (NYSE:RKT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 190,488 shares of the company’s stock, valued at approximately $3,655,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Rocket Companies in the 3rd quarter valued at $39,000. Quarry LP increased its stake in Rocket Companies by 858.8% in the second quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $60,000 after purchasing an additional 3,899 shares during the period. Blue Trust Inc. purchased a new stake in shares of Rocket Companies in the second quarter valued at about $61,000. EntryPoint Capital LLC acquired a new stake in shares of Rocket Companies during the first quarter worth about $77,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Rocket Companies during the third quarter worth about $120,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Price Performance

RKT stock opened at $15.54 on Wednesday. The company has a market cap of $30.92 billion, a price-to-earnings ratio of 225.00 and a beta of 2.46. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27. The firm has a 50 day moving average of $17.98 and a 200-day moving average of $16.26. Rocket Companies, Inc. has a 12-month low of $7.99 and a 12-month high of $21.38.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RKT. Keefe, Bruyette & Woods raised Rocket Companies from an “underperform” rating to a “market perform” rating in a research report on Monday, August 5th. 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 report on Friday, August 2nd. Royal Bank of Canada lifted their price objective 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. Morgan Stanley initiated coverage on shares of Rocket Companies in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $18.00 price objective for the company. Finally, Bank of America lifted their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.15.

Rocket Companies Company 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.