Kingswood Wealth Advisors LLC Purchases Shares of 213,647 Rocket Companies, Inc. (NYSE:RKT)

Kingswood Wealth Advisors LLC purchased a new position in Rocket Companies, Inc. (NYSE:RKT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 213,647 shares of the company's stock, valued at approximately $2,676,000.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Rocket Companies by 174.5% in the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company's stock worth $52,980,000 after acquiring an additional 2,990,837 shares during the last quarter. Boston Partners lifted its stake in Rocket Companies by 29.8% in the fourth quarter. Boston Partners now owns 12,313,780 shares of the company's stock valued at $138,673,000 after buying an additional 2,829,292 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Rocket Companies by 52.7% in the fourth quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company's stock valued at $91,455,000 after buying an additional 2,804,090 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Rocket Companies in the fourth quarter valued at $14,113,000. Finally, BNP Paribas Financial Markets bought a new stake in Rocket Companies in the 4th quarter valued at about $11,037,000. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Price Performance

Shares of RKT traded up $0.61 during midday trading on Friday, reaching $14.40. The stock had a trading volume of 21,215,266 shares, compared to its average volume of 6,306,993. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38. The company has a debt-to-equity ratio of 1.37, a current ratio of 12.62 and a quick ratio of 12.62. The firm's 50 day moving average price is $12.72 and its 200-day moving average price is $12.71. The company has a market capitalization of $28.79 billion, a P/E ratio of -479.83, a P/E/G ratio of 0.93 and a beta of 2.28.

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

Wall Street Analyst Weigh In

RKT has been the topic of several recent research reports. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $18.00 price objective on shares of Rocket Companies in a research report on Tuesday, April 1st. Barclays raised Rocket Companies from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $10.00 to $14.00 in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft raised Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price on the stock in a research note on Wednesday, April 2nd. 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 research note on Monday, May 12th. Finally, UBS Group lifted their target price on Rocket Companies from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $14.21.

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.