Exchange Traded Concepts LLC Acquires Shares of 17,758 Rocket Companies, Inc. (NYSE:RKT)

Exchange Traded Concepts LLC purchased a new position in Rocket Companies, Inc. (NYSE:RKT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,758 shares of the company's stock, valued at approximately $214,000.

Other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of Rocket Companies by 302.2% in the first 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. Itau Unibanco Holding S.A. purchased a new stake in shares of Rocket Companies in the fourth quarter worth approximately $47,000. GAMMA Investing LLC increased its holdings in Rocket Companies by 82.4% in the first quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock worth $47,000 after buying an additional 1,764 shares during the last quarter. Sterling Capital Management LLC increased its holdings in Rocket Companies by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock worth $93,000 after buying an additional 3,019 shares during the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new position in Rocket Companies in the fourth quarter worth approximately $99,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on RKT. Royal Bank Of Canada restated a "sector perform" rating and issued a $18.00 price objective on shares of Rocket Companies in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective on the stock in a report on Wednesday, April 2nd. Barclays upgraded Rocket Companies from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $10.00 to $14.00 in a report on Tuesday, April 8th. UBS Group increased their price objective on Rocket Companies from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Finally, Keefe, Bruyette & Woods dropped their price objective on Rocket Companies from $15.00 to $13.00 and set a "market perform" rating on the stock in a report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $14.21.

Rocket Companies Trading Up 4.4%

Shares of RKT stock opened at $14.40 on Monday. Rocket Companies, Inc. has a 12 month low of $10.06 and a 12 month high of $21.38. The company has a quick ratio of 12.62, a current ratio of 12.62 and a debt-to-equity ratio of 1.37. The company has a market cap of $28.79 billion, a PE ratio of -479.83, a price-to-earnings-growth ratio of 0.93 and a beta of 2.28. The business's 50 day moving average is $12.72 and its two-hundred day moving average is $12.71.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Rocket Companies had a return on equity of 3.61% and a net margin of 0.06%. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the prior year, the business earned $0.04 earnings per share. Rocket Companies's revenue for the quarter was down 10.8% compared to the same quarter last year. Equities analysts predict that Rocket Companies, Inc. will post 0.15 EPS for the current year.

About Rocket Companies

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.

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