Victory Capital Management Inc. Buys 34,899 Shares of Rocket Companies, Inc. (NYSE:RKT)

Victory Capital Management Inc. boosted its position in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 29.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,347 shares of the company's stock after acquiring an additional 34,899 shares during the period. Victory Capital Management Inc.'s holdings in Rocket Companies were worth $1,839,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in Rocket Companies by 147.1% in the first quarter. Signaturefd LLC now owns 4,372 shares of the company's stock valued at $53,000 after acquiring an additional 2,603 shares during the last quarter. Edgestream Partners L.P. lifted its stake in Rocket Companies by 713.1% in 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 period. CWM LLC lifted its stake in Rocket Companies by 22.8% in the first quarter. CWM LLC now owns 6,702 shares of the company's stock valued at $81,000 after buying an additional 1,243 shares during the period. Arizona State Retirement System lifted its stake in Rocket Companies by 8.2% in the first quarter. Arizona State Retirement System now owns 39,739 shares of the company's stock valued at $480,000 after buying an additional 3,023 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in Rocket Companies by 47.1% in the first quarter. Nisa Investment Advisors LLC now owns 78,100 shares of the company's stock valued at $1,007,000 after buying an additional 25,000 shares during the period. Institutional investors own 4.59% of the company's stock.

Rocket Companies Stock Down 3.4%

Shares of NYSE:RKT traded down $0.51 during mid-day trading on Wednesday, reaching $14.69. 17,433,800 shares of the stock were exchanged, compared to its average volume of 20,480,074. 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 company has a market cap of $29.38 billion, a P/E ratio of -489.67 and a beta of 2.28. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $21.38. The stock's 50 day simple moving average is $13.86 and its 200-day simple moving average is $13.25.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings data 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 return on equity of 3.61% and a net margin of 0.06%. Rocket Companies's quarterly revenue was down 10.8% on a year-over-year basis. During the same period last year, the company earned $0.04 earnings per share. As a group, equities research analysts predict that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on RKT. Wedbush reissued a "neutral" rating and issued a $12.00 target price (down previously from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. 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 research note on Tuesday, April 8th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $18.00 target price on shares of Rocket Companies in a research note on Tuesday, April 1st. The Goldman Sachs Group increased their target price on Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Finally, UBS Group raised their price target on Rocket Companies from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $14.42.

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.