Mirae Asset Global Investments Co. Ltd. Purchases New Shares in Rocket Companies, Inc. (NYSE:RKT)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,529 shares of the company's stock, valued at approximately $281,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in shares of Rocket Companies by 302.2% during 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 during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Rocket Companies during the fourth quarter worth about $47,000. GAMMA Investing LLC raised its position in shares of Rocket Companies by 82.4% during the first quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock worth $47,000 after purchasing an additional 1,764 shares during the period. Sterling Capital Management LLC raised its position in Rocket Companies by 57.2% in the 4th quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock valued at $93,000 after buying an additional 3,019 shares during the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in Rocket Companies in the 4th quarter valued at approximately $99,000. Institutional investors own 4.59% of the company's stock.

Rocket Companies Stock Down 4.9%

Shares of NYSE:RKT traded down $0.70 during trading on Monday, hitting $13.54. 19,648,477 shares of the company were exchanged, compared to its average volume of 6,844,474. The company has a current ratio of 12.62, a quick ratio of 12.62 and a debt-to-equity ratio of 1.37. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The firm has a fifty day moving average price of $13.13 and a two-hundred day moving average price of $12.85. The stock has a market cap of $27.08 billion, a price-to-earnings ratio of -451.33 and a beta of 2.28.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its 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 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 the consensus estimate of $1.26 billion. During the same period in the previous year, the company posted $0.04 EPS. The firm's revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, research analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RKT shares. 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 report on Thursday, May 29th. The Goldman Sachs Group lifted their target price on Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. 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 report on Wednesday, April 2nd. Barclays raised Rocket Companies from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $10.00 to $14.00 in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods dropped their target price on Rocket Companies from $15.00 to $13.00 and set a "market perform" rating on the stock in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $14.38.

Rocket Companies 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.