GAMMA Investing LLC Increases Holdings in Rocket Companies, Inc. (NYSE:RKT)

GAMMA Investing LLC lifted its position in Rocket Companies, Inc. (NYSE:RKT) by 2,101.4% in the first quarter, Holdings Channel reports. The firm owned 47,133 shares of the company’s stock after buying an additional 44,992 shares during the period. GAMMA Investing LLC’s holdings in Rocket Companies were worth $569,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of RKT. Wellington Management Group LLP boosted its holdings in shares of Rocket Companies by 174.5% in the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock valued at $52,980,000 after purchasing an additional 2,990,837 shares during the period. Boston Partners boosted its holdings in shares of Rocket Companies by 29.8% in the fourth quarter. Boston Partners now owns 12,313,780 shares of the company’s stock valued at $138,673,000 after purchasing an additional 2,829,292 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Rocket Companies by 52.7% in the fourth quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company’s stock valued at $91,455,000 after purchasing an additional 2,804,090 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Rocket Companies in the fourth quarter valued at approximately $14,113,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Rocket Companies in the fourth quarter valued at approximately $11,037,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Performance

Shares of RKT stock opened at $13.77 on Thursday. The business’s fifty day simple moving average is $12.63 and its 200-day simple moving average is $12.72. The company has a market cap of $27.54 billion, a PE ratio of -458.90, a PEG ratio of 0.85 and a beta of 2.28. The company has a current ratio of 12.62, a quick 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.

Rocket Companies (NYSE:RKT) last released its earnings results on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Rocket Companies had a return on equity of 3.61% and a net margin of 0.06%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned $0.04 EPS. The firm’s revenue was down 10.8% on a year-over-year basis. Analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on RKT shares. UBS Group boosted their price target on Rocket Companies from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Keefe, Bruyette & Woods lowered their target price on Rocket Companies from $15.00 to $13.00 and set a “market perform” rating for the company in a report on Monday, May 12th. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Wednesday, April 2nd. Royal Bank Of Canada restated a “sector perform” rating and set a $18.00 target price on shares of Rocket Companies in a report on Tuesday, April 1st. Finally, Barclays upgraded Rocket Companies from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $10.00 to $14.00 in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Rocket Companies currently has a consensus rating of “Hold” and an average target price of $14.21.

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.