30,675 Shares in Rocket Companies, Inc. (NYSE:RKT) Purchased by Readystate Asset Management LP

Readystate Asset Management LP bought a new stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 30,675 shares of the company's stock, valued at approximately $370,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Rocket Companies by 174.5% during the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company's stock valued at $52,980,000 after buying an additional 2,990,837 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Rocket Companies by 52.7% in the fourth quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company's stock worth $91,455,000 after acquiring an additional 2,804,090 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Rocket Companies in the fourth quarter worth $14,113,000. BNP Paribas Financial Markets purchased a new stake in shares of Rocket Companies in the fourth quarter worth $11,037,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Rocket Companies by 148.3% in the first quarter. Bank of New York Mellon Corp now owns 1,163,399 shares of the company's stock worth $14,042,000 after acquiring an additional 694,779 shares during the last quarter. Hedge funds and other institutional investors own 4.59% of the company's stock.

Wall Street Analysts Forecast Growth

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

Rocket Companies Stock Performance

NYSE:RKT traded down $1.37 during mid-day trading on Thursday, hitting $14.84. 26,442,312 shares of the company traded hands, compared to its average volume of 20,172,716. The stock's fifty day moving average price is $13.69 and its 200-day moving average price is $13.12. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $21.38. The company has a quick ratio of 12.62, a current ratio of 12.62 and a debt-to-equity ratio of 1.37. The firm has a market cap of $29.68 billion, a price-to-earnings ratio of -494.67 and a beta of 2.28.

Rocket Companies (NYSE:RKT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $1.04 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 earnings per share. Research analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

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.