Tennessee Valley Asset Management Partners Purchases New Shares in Rocket Companies, Inc. (NYSE:RKT)

Tennessee Valley Asset Management Partners purchased a new stake in Rocket Companies, Inc. (NYSE:RKT) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,550 shares of the company’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. First Affirmative Financial Network raised its position in Rocket Companies by 18.0% in the 4th quarter. First Affirmative Financial Network now owns 13,450 shares of the company’s stock valued at $195,000 after purchasing an additional 2,052 shares during the last quarter. DMC Group LLC raised its position in Rocket Companies by 11.7% in the 3rd quarter. DMC Group LLC now owns 21,145 shares of the company’s stock valued at $173,000 after purchasing an additional 2,217 shares during the last quarter. First Eagle Investment Management LLC raised its position in Rocket Companies by 12.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 35,149 shares of the company’s stock valued at $288,000 after purchasing an additional 3,764 shares during the last quarter. Kingfisher Capital LLC raised its position in Rocket Companies by 3.0% in the 3rd quarter. Kingfisher Capital LLC now owns 153,098 shares of the company’s stock valued at $1,252,000 after purchasing an additional 4,478 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in Rocket Companies by 7.5% in the 4th quarter. Global Retirement Partners LLC now owns 70,830 shares of the company’s stock valued at $1,026,000 after purchasing an additional 4,917 shares during the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

RKT has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, February 23rd. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $10.75 price objective on shares of Rocket Companies in a research note on Wednesday, January 3rd. Citigroup boosted their price objective on shares of Rocket Companies from $10.00 to $11.00 and gave the company a “sell” rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Rocket Companies in a research note on Wednesday, January 10th. They issued a “hold” rating and a $10.00 price objective on the stock. Finally, UBS Group boosted their price objective on shares of Rocket Companies from $8.50 to $10.00 and gave the company a “sell” rating in a research note on Monday, February 26th. Six equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.02.

Rocket Companies Stock Performance

NYSE:RKT opened at $12.64 on Wednesday. The stock has a market cap of $25.09 billion, a PE ratio of -78.97, a price-to-earnings-growth ratio of 9.73 and a beta of 2.41. Rocket Companies, Inc. has a fifty-two week low of $7.17 and a fifty-two week high of $15.19. The firm’s fifty day simple moving average is $12.55 and its 200-day simple moving average is $11.35. The company has a quick ratio of 9.78, a current ratio of 9.78 and a debt-to-equity ratio of 0.92.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $885.00 million during the quarter, compared to analyst estimates of $762.44 million. Rocket Companies had a negative net margin of 0.41% and a negative return on equity of 3.63%. Rocket Companies’s revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) earnings per share. Analysts expect that Rocket Companies, Inc. will post 0.24 earnings per share for the current fiscal year.

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.