AXQ Capital LP Has $2.84 Million Holdings in Rocket Companies, Inc. $RKT

AXQ Capital LP reduced its holdings in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 40.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 180,057 shares of the company's stock after selling 123,262 shares during the period. AXQ Capital LP's holdings in Rocket Companies were worth $2,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in Rocket Companies in the 4th quarter valued at $26,000. Acumen Wealth Advisors LLC acquired a new stake in Rocket Companies in the fourth quarter valued at $26,000. Smithfield Trust Co bought a new position in Rocket Companies during the fourth quarter worth about $32,000. Key Financial Inc bought a new stake in Rocket Companies in the 4th quarter valued at $32,000. Finally, Private Capital Management LLC bought a new position in shares of Rocket Companies in the third quarter valued at about $182,000. Institutional investors own 4.59% of the company's stock.

Rocket Companies Price Performance

RKT stock opened at $14.24 on Friday. The firm has a market cap of $40.32 billion, a price-to-earnings ratio of 101.71 and a beta of 2.20. The company has a quick ratio of 4.85, a current ratio of 4.85 and a debt-to-equity ratio of 1.16. The company's fifty day simple moving average is $14.20 and its 200 day simple moving average is $14.63. Rocket Companies, Inc. has a 12-month low of $12.17 and a 12-month high of $24.36.

Rocket Companies (NYSE:RKT - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.81 billion. Rocket Companies had a return on equity of 5.13% and a net margin of 4.70%.The firm's revenue was up 91.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 earnings per share. On average, analysts expect that Rocket Companies, Inc. will post 0.53 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Benchmark dropped their price target on Rocket Companies from $21.00 to $19.00 and set a "buy" rating for the company in a report on Friday, August 7th. Weiss Ratings downgraded shares of Rocket Companies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, August 21st. BTIG Research reissued a "neutral" rating on shares of Rocket Companies in a report on Tuesday, June 16th. Keefe, Bruyette & Woods dropped their price objective on Rocket Companies from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Monday, August 10th. Finally, Wells Fargo & Company cut their target price on shares of Rocket Companies from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, Rocket Companies presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.87.

Rocket Companies Profile

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company's core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.

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