Rocket Companies, Inc. (NYSE:RKT) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 47.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,100 shares of the company's stock after buying an additional 25,000 shares during the quarter. Nisa Investment Advisors LLC's holdings in Rocket Companies were worth $1,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of Rocket Companies by 39.4% in the 4th quarter. Bank of New York Mellon Corp now owns 468,620 shares of the company's stock worth $5,277,000 after purchasing an additional 132,453 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Rocket Companies by 11.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company's stock worth $13,098,000 after acquiring an additional 122,534 shares during the last quarter. Victory Capital Management Inc. grew its stake in Rocket Companies by 74.9% during the 4th quarter. Victory Capital Management Inc. now owns 117,448 shares of the company's stock valued at $1,322,000 after purchasing an additional 50,287 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Rocket Companies during the fourth quarter worth about $154,000. Finally, Raymond James Financial Inc. purchased a new position in Rocket Companies during the 4th quarter worth approximately $3,469,000. Institutional investors own 4.59% of the company's stock.

Rocket Companies Price Performance

Shares of NYSE:RKT traded up $0.19 during midday trading on Thursday, hitting $13.79. The company had a trading volume of 15,429,101 shares, compared to its average volume of 7,161,577. 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 business's 50-day simple moving average is $13.34 and its 200-day simple moving average is $12.96. The stock has a market cap of $27.58 billion, a price-to-earnings ratio of -459.60 and a beta of 2.28. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38.

Rocket Companies (NYSE:RKT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $1.04 billion during 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%. Rocket Companies's revenue was down 10.8% compared to the same quarter last year. During the same period last year, the business earned $0.04 earnings per share. On average, research analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $18.00 price target on shares of Rocket Companies in a report on Tuesday, April 1st. Keefe, Bruyette & Woods lifted their price objective on shares of Rocket Companies from $13.00 to $14.00 and gave the company a "market perform" rating in a report on Thursday, July 10th. Barclays raised shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $10.00 to $14.00 in a research note on Tuesday, April 8th. The Goldman Sachs Group lifted their price target on Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective for the company in a research report on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Rocket Companies has an average rating of "Hold" and a consensus price target of $14.46.

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.