Lincoln Capital Corp Invests $1.83 Million in Rocket Companies, Inc. (NYSE:RKT)

Lincoln Capital Corp purchased a new position in Rocket Companies, Inc. (NYSE:RKT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 162,567 shares of the company’s stock, valued at approximately $1,831,000.

A number of other hedge funds have also added to or reduced their stakes in RKT. State Street Corp grew its holdings in Rocket Companies by 44.7% during the 3rd quarter. State Street Corp now owns 4,108,189 shares of the company’s stock worth $78,836,000 after acquiring an additional 1,269,795 shares in the last quarter. Geode Capital Management LLC raised its stake in Rocket Companies by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company’s stock worth $39,235,000 after buying an additional 12,735 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in 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 during the period. Marshall Wace LLP purchased a new stake in Rocket Companies during the second quarter worth $10,811,000. Finally, Philip James Wealth Mangement LLC purchased a new position in shares of Rocket Companies in the 3rd quarter valued at $6,811,000. 4.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RKT shares. Morgan Stanley cut their price target on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada lowered their price objective on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 13th. Barclays cut their price objective on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their target price on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Finally, UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $12.50 to $11.50 in a research note on Friday, January 10th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.50.

Rocket Companies Price Performance

Shares of RKT stock opened at $11.88 on Friday. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The firm’s 50-day simple moving average is $12.31 and its 200-day simple moving average is $15.70. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51.

Rocket Companies (NYSE:RKT) last posted its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The company’s revenue was down 46.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. As a group, research analysts anticipate that Rocket Companies, Inc. will post 0.15 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.