XTX Topco Ltd Has $1.78 Million Holdings in Rocket Companies, Inc. (NYSE:RKT)

Key Points

• XTX Topco Ltd significantly increased its holdings in Rocket Companies, Inc. by 384.0% in the first quarter, owning a total of 147,391 shares valued at $1,779,000.
• Multiple hedge funds, including Mather Group LLC and Parallel Advisors LLC, have also increased their positions in Rocket Companies during the same period, showing strong institutional interest.
• Analysts have raised their price targets for Rocket Companies, with an average target now at $14.42, reflecting a generally positive outlook despite a recent earnings report indicating a revenue decline.

XTX Topco Ltd boosted its holdings in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 384.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,391 shares of the company's stock after purchasing an additional 116,939 shares during the period. XTX Topco Ltd's holdings in Rocket Companies were worth $1,779,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RKT. Mather Group LLC. lifted its stake in Rocket Companies by 312.2% during the first quarter. Mather Group LLC. now owns 2,601 shares of the company's stock valued at $31,000 after purchasing an additional 1,970 shares during the last quarter. Parallel Advisors LLC lifted its stake in Rocket Companies by 302.2% during the first quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock valued at $36,000 after purchasing an additional 2,221 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Rocket Companies during the fourth quarter valued at approximately $47,000. GAMMA Investing LLC lifted its stake in Rocket Companies by 82.4% during the first quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock valued at $47,000 after purchasing an additional 1,764 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Rocket Companies by 147.1% during the first quarter. Signaturefd LLC now owns 4,372 shares of the company's stock valued at $53,000 after purchasing an additional 2,603 shares during the last quarter. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Stock Up 12.1%

Shares of Rocket Companies stock traded up $1.78 on Friday, hitting $16.55. 55,947,097 shares of the company traded hands, compared to its average volume of 20,551,150. The company has a 50-day moving average price of $13.98 and a 200 day moving average price of $13.31. The company has a quick ratio of 12.62, a current ratio of 12.62 and a debt-to-equity ratio of 1.37. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. The company has a market cap of $33.10 billion, a PE ratio of -331.00 and a beta of 2.28.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.07%. The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the previous year, the company posted $0.06 EPS. Rocket Companies's revenue was up 4.5% on a year-over-year basis. Sell-side analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RKT. Wedbush reissued a "neutral" rating and set a $12.00 target price (down from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. Barclays raised their price objective on shares of Rocket Companies from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Friday. The Goldman Sachs Group raised their price objective on shares of Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. UBS Group raised their price objective on shares of Rocket Companies from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Rocket Companies from $13.00 to $14.00 and gave the stock a "market perform" rating in a research note on Thursday, July 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $14.58.

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.