FORA Capital LLC Takes $1.30 Million Position in Rocket Companies, Inc. (NYSE:RKT)

FORA Capital LLC acquired a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 67,621 shares of the company’s stock, valued at approximately $1,298,000.

A number of other hedge funds have also made changes to their positions in the stock. Townsquare Capital LLC acquired a new stake in shares of Rocket Companies during the third quarter worth approximately $238,000. Quantbot Technologies LP grew its position in shares of Rocket Companies by 3.7% during the third quarter. Quantbot Technologies LP now owns 153,033 shares of the company’s stock worth $2,937,000 after buying an additional 5,438 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of Rocket Companies during the third quarter worth approximately $235,000. Cerity Partners LLC grew its position 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Stock Performance

Shares of RKT opened at $14.34 on Thursday. Rocket Companies, Inc. has a 1 year low of $9.06 and a 1 year high of $21.38. The company has a market cap of $28.60 billion, a price-to-earnings ratio of -89.63 and a beta of 2.46. 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 firm has a fifty day moving average of $16.64 and a 200-day moving average of $16.31.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was down 46.2% compared to the same quarter last year. As a group, equities analysts anticipate that Rocket Companies, Inc. will post 0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of 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 decreased their price objective on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday, November 13th. Morgan Stanley started coverage on shares of Rocket Companies in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $18.00 price objective for the company. Piper Sandler decreased their price objective on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Rocket Companies from $20.00 to $16.00 and set a “market perform” rating for the company in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.13.

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.