Kingswood Wealth Advisors LLC Takes Position in Rocket Companies, Inc. (NYSE:RKT)

Kingswood Wealth Advisors LLC bought a new stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 213,647 shares of the company's stock, valued at approximately $2,676,000.

Other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC grew its holdings in shares of Rocket Companies by 302.2% during 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 stake in shares of Rocket Companies by 82.4% in the first quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock valued at $47,000 after purchasing an additional 1,764 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Rocket Companies in the fourth quarter worth $47,000. Sterling Capital Management LLC boosted its stake in Rocket Companies by 57.2% during 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 in the last quarter. Finally, Caisse Des Depots ET Consignations bought a new stake in Rocket Companies in the 4th quarter valued at $99,000. 4.59% of the stock is owned by institutional investors.

Rocket Companies Price Performance

Shares of RKT traded up $0.58 on Thursday, hitting $13.77. The company's stock had a trading volume of 13,833,113 shares, compared to its average volume of 6,232,708. 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. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The company has a 50 day moving average price of $12.63 and a 200 day moving average price of $12.72. 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 (NYSE:RKT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.26 billion. Rocket Companies had a return on equity of 3.61% and a net margin of 0.06%. The business's revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 earnings per share. On average, research analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wedbush restated a "neutral" rating and issued a $12.00 price objective (down previously from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. UBS Group increased their price target on shares of Rocket Companies from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price target for the company in a research note on Wednesday, April 2nd. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $18.00 price objective on shares of Rocket Companies in a research note on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods cut their target price on Rocket Companies from $15.00 to $13.00 and set a "market perform" rating for the company in a research report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Rocket Companies has an average rating of "Hold" and a consensus target price of $14.21.

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.