According to the latest filing of the Securities and Exchange Commission, (SEC), the company increased its share price by 5.6% during the fourth quarter. The institutional investor held 507,700 of the company’s stock following the sale of 30,000 shares in the fourth quarter. Rocket Companies is the 28th most valuable stock in Patient Capital Management LLC’s portfolio. It represents about 1.7%. As of the most recent Securities and Exchange Commission filing, Patient Capital Management LLC held Rocket Companies for $3.554,000.
Several other institutional investors also increased or decreased their stakes. JPMorgan Chase & Co. increased its Rocket Companies holdings by 8.3% in the first quarter. JPMorgan Chase & Co. owns 92.184 shares worth $1.025,000, after acquiring 7,048 additional shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Rocket Companies shares by 32.1% during the first quarter. Raymond James Financial Services Advisors Inc. owns 16,693 of the company’s stock worth $186,000, after buying an additional 4,056 during the last quarter. Bank of New York Mellon Corp increased its stake in Rocket Companies shares by 9.2% during the first quarter. Bank of New York Mellon Corp owns 737.843 shares of stock in the company valued at $8.205,000, after buying an additional 61.950 shares during the previous quarter. US Bancorp DE increased its stake in Rocket Companies shares by 341.4% during the first quarter. US Bancorp DE owns 4,414 of the company stock, valued at $49,000. This is after buying an additional 3,414 during the previous quarter. Mitsubishi UFJ Trust & Banking Corp also bought shares of Rocket Companies during the first quarter, valued at $52,000. On Monday, the price of a share rose $0.15 to $9.10. The company's average trading volume is 2,583,362. The fifty-day moving average of the stock is $8.60, and its 200-day moving average is also $8.46. The company's quick ratio is 12.65, its current ratio is 12.65 and it has a debt to equity ratio of 1.19. Rocket Companies, Inc.'s low for the past year was $5.97, and its high, $11.38. The company has a market capitalization of $17.98billion, a P/E of -37.92, and a beta value of 2.09.
The company released its last quarterly earnings report on Thursday, 4th May. The company's ($0.18) earnings per share for the quarter fell short of analysts' expectations ($0.12), by $0.06. Rocket Companies reported a negative net profit margin of 0.67%, and an 8.63% negative return on equity. The firm's revenue was $666.07m during the third quarter, which is lower than the consensus estimate. Analysts predict that Rocket Companies, Inc. is expected to post -0.17 earnings per share for the current fiscal.
Analysts set new price targets
RKT has been the subject of recent comments from a number of equity research analysts. Piper Sandler raised their price target on shares of Rocket Companies on Monday, 8th May from $7.50 up to $8.00. JPMorgan Chase & Co. raised their price target on shares of Rocket Companies to $9.50 in a research report on Monday, April 17. Credit Suisse Group reiterated its 'underperform rating' and set a $7.00 price target on shares of Rocket Companies on Thursday, 2nd March. Goldman Sachs Group raised their target price for shares of Rocket Companies in a research report on Thursday, 2nd March from $7.00 up to $8.00. The stock was also given a neutral rating. Citigroup raised their price target on shares of Rocket Companies in a Friday, May 5, report from $8.00 up to $9.00. Two analysts have assigned the stock a sell recommendation, seven others have given it a hold recommendation and one analyst has given the company a buy recommendation. MarketBeat.com data shows that the consensus rating for the company is 'Hold' with a consensus price target of $7.85.
Rocket Companies Company Profile
Rocket Companies, Inc., a fintech company holding, offers mortgage lending, title settlement and other financial services in the United States of America and Canada. The company operates in two segments: Direct to Consumer and Partner Network. Rocket Mortgage is a mortgage lender. Amrock provides title insurance, valuation and settlement services. Rocket Homes is a home search and referral network for real estate agents that offers technology-enabled solutions to support home buying and sales.
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