Rocket Companies, Inc. (NYSE:RKT) Stock Holdings Lifted by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC increased its stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 151.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 766,197 shares of the company's stock after acquiring an additional 461,472 shares during the quarter. Rocket Companies makes up 1.1% of Philip James Wealth Mangement LLC's holdings, making the stock its 15th largest holding. Philip James Wealth Mangement LLC's holdings in Rocket Companies were worth $9,248,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Rocket Companies by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company's stock worth $140,976,000 after buying an additional 431,054 shares during the period. Boston Partners boosted its stake in shares of Rocket Companies by 29.8% during the 4th quarter. Boston Partners now owns 12,313,780 shares of the company's stock valued at $138,673,000 after buying an additional 2,829,292 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Rocket Companies by 2.2% during the 4th quarter. JPMorgan Chase & Co. now owns 8,161,979 shares of the company's stock valued at $91,904,000 after acquiring an additional 174,978 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Rocket Companies by 52.7% during the 4th quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company's stock valued at $91,455,000 after acquiring an additional 2,804,090 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Rocket Companies by 174.5% during the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company's stock worth $52,980,000 after acquiring an additional 2,990,837 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Stock Up 1.0%

Shares of RKT stock opened at $14.48 on Friday. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $21.38. 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 stock has a fifty day moving average price of $12.89 and a 200 day moving average price of $12.75. The stock has a market cap of $28.95 billion, a P/E ratio of -482.50, a price-to-earnings-growth ratio of 0.92 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 earnings per share for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.26 billion. Rocket Companies had a net margin of 0.06% and a return on equity of 3.61%. The firm's revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 EPS. Analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Keefe, Bruyette & Woods lowered their target price on Rocket Companies from $15.00 to $13.00 and set a "market perform" rating on the stock in a research note on Monday, May 12th. Wedbush reaffirmed a "neutral" rating and set a $12.00 price objective (down previously from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price for the company in a research report on Wednesday, April 2nd. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $18.00 price objective on shares of Rocket Companies in a research note on Tuesday, April 1st. Finally, 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 report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $14.21.

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.

Want to see what other hedge funds are holding RKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rocket Companies, Inc. (NYSE:RKT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.