Oak Thistle LLC Buys New Shares in Rocket Companies, Inc. (NYSE:RKT)

Oak Thistle LLC acquired a new stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 66,846 shares of the company's stock, valued at approximately $807,000.

Several other institutional investors also recently modified their holdings of the business. Readystate Asset Management LP purchased a new stake in shares of Rocket Companies during the first quarter valued at $370,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Rocket Companies during the first quarter valued at $310,000. Victory Capital Management Inc. boosted its position in shares of Rocket Companies by 29.7% during the first quarter. Victory Capital Management Inc. now owns 152,347 shares of the company's stock valued at $1,839,000 after buying an additional 34,899 shares during the last quarter. Signaturefd LLC boosted its position in shares of Rocket Companies by 147.1% during the first quarter. Signaturefd LLC now owns 4,372 shares of the company's stock valued at $53,000 after buying an additional 2,603 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its position in shares of Rocket Companies by 713.1% during the first quarter. Edgestream Partners L.P. now owns 121,642 shares of the company's stock valued at $1,468,000 after buying an additional 106,681 shares during the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Stock Up 0.8%

Shares of RKT stock traded up $0.12 during mid-day trading on Friday, hitting $14.98. The stock had a trading volume of 16,701,619 shares, compared to its average volume of 20,666,924. 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 has a market capitalization of $29.96 billion, a P/E ratio of -499.23 and a beta of 2.28. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. The firm's 50-day moving average is $13.73 and its two-hundred day moving average is $13.15.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods increased their target price on 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 Rocket Companies from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $10.00 to $14.00 in a report on Tuesday, April 8th. Jefferies Financial Group increased their target price on Rocket Companies from $11.50 to $14.00 and gave the company a "hold" rating in a report on Tuesday. Wedbush reissued a "neutral" rating and issued a $12.00 target price (down previously from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. Finally, UBS Group increased their target price on Rocket Companies from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $14.42.

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.