Rocket Companies, Inc. $RKT Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP increased its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 110.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,079,686 shares of the company's stock after purchasing an additional 566,619 shares during the period. Quantinno Capital Management LP's holdings in Rocket Companies were worth $15,386,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Rocket Companies by 280.3% in the 4th quarter. Vanguard Group Inc. now owns 87,256,540 shares of the company's stock valued at $1,689,287,000 after acquiring an additional 64,311,040 shares in the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Rocket Companies during the fourth quarter worth about $4,259,000. KBC Group NV acquired a new stake in shares of Rocket Companies during the fourth quarter worth about $2,857,000. Andra AP fonden lifted its position in shares of Rocket Companies by 48.0% during the first quarter. Andra AP fonden now owns 729,357 shares of the company's stock worth $10,393,000 after purchasing an additional 236,632 shares in the last quarter. Finally, Evergreen Capital Management LLC purchased a new position in shares of Rocket Companies in the fourth quarter valued at approximately $1,304,000. Hedge funds and other institutional investors own 4.59% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stephens initiated coverage on shares of Rocket Companies in a research note on Thursday, April 23rd. They issued an "overweight" rating and a $22.50 price target for the company. Benchmark initiated coverage on shares of Rocket Companies in a report on Monday, June 29th. They issued a "buy" rating and a $21.00 price objective on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Rocket Companies from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Thursday, June 25th. BTIG Research reaffirmed a "neutral" rating on shares of Rocket Companies in a research report on Tuesday, June 16th. Finally, Barclays decreased their target price on Rocket Companies from $19.00 to $17.00 and set an "overweight" rating for the company in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.73.

Rocket Companies Price Performance

Shares of RKT opened at $12.91 on Monday. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.37 and a quick ratio of 4.37. Rocket Companies, Inc. has a 1-year low of $12.17 and a 1-year high of $24.36. The stock has a market cap of $36.54 billion, a PE ratio of 258.30 and a beta of 2.19. The firm has a fifty day moving average price of $14.05 and a 200 day moving average price of $15.75.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. Rocket Companies had a return on equity of 4.30% and a net margin of 2.78%.The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the company posted $0.04 earnings per share. The business's quarterly revenue was up 167.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rocket Companies, Inc. will post 0.54 EPS for the current year.

About Rocket Companies

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company's core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.

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