GAMMA Investing LLC Boosts Stock Position in Rocket Companies, Inc. (NYSE:RKT)

GAMMA Investing LLC lifted its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 2,101.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,133 shares of the company's stock after buying an additional 44,992 shares during the quarter. GAMMA Investing LLC's holdings in Rocket Companies were worth $569,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of RKT. Itau Unibanco Holding S.A. bought a new position in Rocket Companies during the fourth quarter worth $47,000. Sterling Capital Management LLC raised its holdings in shares of Rocket Companies by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock valued at $93,000 after purchasing an additional 3,019 shares during the period. Caisse Des Depots ET Consignations acquired a new position in shares of Rocket Companies during the fourth quarter valued at about $99,000. Garner Asset Management Corp bought a new position in shares of Rocket Companies during the 4th quarter worth about $118,000. Finally, Huntington National Bank boosted its position in shares of Rocket Companies by 548,750.0% during the 4th quarter. Huntington National Bank now owns 10,977 shares of the company's stock worth $124,000 after purchasing an additional 10,975 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on RKT shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $18.00 target price on shares of Rocket Companies in a research report on Tuesday, April 1st. Wedbush reaffirmed a "neutral" rating and set a $12.00 target price (down from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Keefe, Bruyette & Woods cut their target price 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. Barclays upgraded shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective on the stock in a research note on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Rocket Companies has an average rating of "Hold" and a consensus target price of $14.21.

Rocket Companies Stock Up 4.4%

Shares of NYSE RKT traded up $0.58 during trading on Thursday, hitting $13.77. The stock had a trading volume of 13,833,113 shares, compared to its average volume of 6,232,708. The firm has a fifty day moving average of $12.63 and a two-hundred day moving average of $12.72. The company has a market capitalization of $27.54 billion, a PE ratio of -458.90, a PEG ratio of 0.85 and a beta of 2.28. The company has a debt-to-equity ratio of 1.37, a current ratio of 12.62 and a quick ratio of 12.62. Rocket Companies, Inc. has a 12 month low of $10.06 and a 12 month high of $21.38.

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

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.