Rocket Companies Target of Unusually High Options Trading (NYSE:RKT)

Rocket Companies, Inc. (NYSE:RKT - Get Free Report) was the recipient of some unusual options trading on Thursday. Stock investors purchased 43,830 call options on the stock. This represents an increase of approximately 64% compared to the average daily volume of 26,736 call options.

Analyst Upgrades and Downgrades

RKT has been the subject of several research reports. UBS Group raised their price objective on shares of Rocket Companies from $13.00 to $14.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Rocket Companies from $15.00 to $13.00 and set a "market perform" rating for the company in a research report on Monday, May 12th. Barclays raised Rocket Companies from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. Wedbush reiterated a "neutral" rating and set a $12.00 price target (down previously from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $18.00 price objective on shares of Rocket Companies in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $14.21.

Rocket Companies Stock Up 3.6%

Shares of NYSE RKT traded up $0.49 during mid-day trading on Thursday, reaching $14.18. 15,133,729 shares of the company's stock were exchanged, compared to its average volume of 6,081,049. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The business has a fifty day simple moving average of $12.57 and a 200 day simple moving average of $12.74. Rocket Companies has a twelve month low of $10.06 and a twelve month high of $21.38. The firm has a market capitalization of $28.36 billion, a price-to-earnings ratio of -88.63 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 for the quarter, meeting analysts' consensus estimates of $0.04. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.26 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The business's revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. As a group, equities analysts expect that Rocket Companies will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Rocket Companies

Several large investors have recently made changes to their positions in RKT. Mather Group LLC. raised its holdings in shares of Rocket Companies by 312.2% in the 1st 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 period. Parallel Advisors LLC increased its position in Rocket Companies by 302.2% during the first quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock worth $36,000 after buying an additional 2,221 shares during the last quarter. Brooklyn Investment Group raised its stake in Rocket Companies by 251.3% in the first quarter. Brooklyn Investment Group now owns 3,390 shares of the company's stock valued at $41,000 after buying an additional 2,425 shares during the period. GAMMA Investing LLC boosted its stake in shares of Rocket Companies by 82.4% during the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock worth $47,000 after acquiring an additional 1,764 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Rocket Companies during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 4.59% of the company's stock.

Rocket Companies Company 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.