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

Quantinno Capital Management LP increased its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 110.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,079,686 shares of the company’s stock after acquiring an additional 566,619 shares during the period. Quantinno Capital Management LP’s holdings in Rocket Companies were worth $15,386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 64,311,040 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Rocket Companies during the fourth quarter worth approximately $4,259,000. KBC Group NV purchased a new stake in shares of Rocket Companies during the fourth quarter worth approximately $2,857,000. Andra AP fonden lifted its holdings 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 during the period. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Rocket Companies during the fourth quarter worth $34,307,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Trading Up 0.1%

Shares of RKT stock opened at $12.91 on Monday. The business’s fifty day moving average price is $14.05 and its 200 day moving average price is $15.75. Rocket Companies, Inc. has a 1-year low of $12.17 and a 1-year high of $24.36. The firm has a market capitalization of $36.54 billion, a PE ratio of 258.30 and a beta of 2.19. 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 (NYSE:RKT) last released 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 firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the prior year, the business posted $0.04 earnings per share. Rocket Companies’s revenue was up 167.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Rocket Companies, Inc. will post 0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RKT shares. Benchmark started coverage on shares of Rocket Companies in a research note on Monday, June 29th. They issued a “buy” rating and a $21.00 price objective on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Rocket Companies from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, June 25th. Stephens initiated coverage on shares of Rocket Companies in a report on Thursday, April 23rd. They issued an “overweight” rating and a $22.50 target price on the stock. Barclays dropped their price target on shares of Rocket Companies from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Rocket Companies from $16.00 to $15.50 and set a “neutral” rating for the company in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.73.

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.