Aigen Investment Management LP Has $427,000 Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Key Points

• Aigen Investment Management LP significantly increased its holdings in Rocket Companies, Inc. by 186.9%, owning 35,379 shares valued at approximately $427,000 as of the end of the first quarter.
• Several other institutional investors have also raised their positions in Rocket Companies, with Mather Group LLC increasing its stake by 312.2% during the same period, showcasing a growing interest in the company.
• Rocket Companies reported a 4.5% year-over-year increase in revenue, totaling $1.36 billion, with earnings per share exceeding estimates at $0.04 for the most recent quarter.

Aigen Investment Management LP increased its holdings in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 186.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,379 shares of the company's stock after purchasing an additional 23,048 shares during the quarter. Aigen Investment Management LP's holdings in Rocket Companies were worth $427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mather Group LLC. raised its holdings in shares of Rocket Companies by 312.2% in the 1st quarter. Mather Group LLC. now owns 2,601 shares of the company's stock worth $31,000 after purchasing an additional 1,970 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Rocket Companies by 302.2% in the 1st quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock worth $36,000 after purchasing an additional 2,221 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Rocket Companies by 82.4% in the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock worth $47,000 after purchasing an additional 1,764 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Rocket Companies in the 4th quarter worth approximately $47,000. Finally, Signaturefd LLC raised its holdings in shares of Rocket Companies by 147.1% in the 1st quarter. Signaturefd LLC now owns 4,372 shares of the company's stock worth $53,000 after purchasing an additional 2,603 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Rocket Companies from $11.50 to $14.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. Morgan Stanley assumed coverage on shares of Rocket Companies in a report on Thursday. They issued an "equal weight" rating and a $16.00 target price on the stock. UBS Group set a $16.00 price target on shares of Rocket Companies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Barclays boosted their price target on shares of Rocket Companies from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $15.04.

Rocket Companies Stock Down 4.3%

RKT traded down $0.84 on Thursday, reaching $18.78. 22,138,467 shares of the company traded hands, compared to its average volume of 25,943,468. The stock's 50 day moving average price is $14.91 and its 200-day moving average price is $13.68. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38. The company has a market cap of $37.55 billion, a price-to-earnings ratio of -375.52 and a beta of 2.28. The company has a debt-to-equity ratio of 2.36, a current ratio of 18.74 and a quick ratio of 12.62.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts expect that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal 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.