Lincoln Capital Corp cut its holdings in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 58.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 66,975 shares of the company's stock after selling 95,592 shares during the period. Lincoln Capital Corp's holdings in Rocket Companies were worth $808,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. AXQ Capital LP increased its holdings in Rocket Companies by 125.7% in the 4th quarter. AXQ Capital LP now owns 146,691 shares of the company's stock worth $1,652,000 after acquiring an additional 81,695 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Rocket Companies by 2,101.4% during the 1st quarter. GAMMA Investing LLC now owns 47,133 shares of the company's stock worth $569,000 after purchasing an additional 44,992 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Rocket Companies by 875.5% in the 4th quarter. Hsbc Holdings PLC now owns 145,485 shares of the company's stock valued at $1,634,000 after buying an additional 130,571 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Rocket Companies in the 1st quarter valued at about $583,000. Finally, Aquatic Capital Management LLC boosted its holdings in Rocket Companies by 54.5% in the 4th quarter. Aquatic Capital Management LLC now owns 173,754 shares of the company's stock worth $1,956,000 after buying an additional 61,265 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded 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. Keefe, Bruyette & Woods decreased their price objective on Rocket Companies from $15.00 to $13.00 and set a "market perform" rating on the stock in a report on Monday, May 12th. Wedbush reaffirmed a "neutral" rating and set a $12.00 target price (down previously from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $18.00 price target on shares of Rocket Companies in a research note on Tuesday, April 1st. Finally, UBS Group upped their price objective on shares of Rocket Companies from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $14.21.
View Our Latest Research Report on Rocket Companies
Rocket Companies Trading Up 3.9%
RKT stock traded up $0.56 during trading on Wednesday, reaching $15.04. 13,094,939 shares of the stock were exchanged, compared to its average volume of 6,663,407. The company has a current ratio of 12.62, a quick ratio of 12.62 and a debt-to-equity ratio of 1.37. The business has a 50 day moving average price of $13.03 and a 200-day moving average price of $12.79. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38. The firm has a market capitalization of $30.09 billion, a price-to-earnings ratio of -501.83, a P/E/G ratio of 1.04 and a beta of 2.28.
Rocket Companies (NYSE:RKT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.04. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.26 billion. Rocket Companies had a net margin of 0.06% and a return on equity of 3.61%. The business's revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 EPS. On average, research analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.
Rocket Companies Profile
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Free Report)
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.
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