66,369 Shares in Rocket Companies, Inc. (NYSE:RKT) Acquired by Centiva Capital LP

Centiva Capital LP bought a new position in Rocket Companies, Inc. (NYSE:RKT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 66,369 shares of the company's stock, valued at approximately $1,274,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC grew its stake in Rocket Companies by 26.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company's stock valued at $33,821,000 after buying an additional 510,400 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Rocket Companies by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company's stock valued at $19,971,000 after purchasing an additional 72,308 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Rocket Companies during the 2nd quarter valued at $10,811,000. Greylin Investment Management Inc raised its stake in shares of Rocket Companies by 45.7% during the 2nd quarter. Greylin Investment Management Inc now owns 355,868 shares of the company's stock valued at $4,875,000 after purchasing an additional 111,563 shares during the period. Finally, Philip James Wealth Mangement LLC purchased a new stake in Rocket Companies during the 3rd quarter worth about $6,811,000. Institutional investors own 4.59% of the company's stock.

Rocket Companies Price Performance

Shares of RKT traded down $0.25 during midday trading on Thursday, reaching $13.50. The stock had a trading volume of 2,560,737 shares, compared to its average volume of 2,898,555. 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 company has a market capitalization of $26.93 billion, a price-to-earnings ratio of -84.38 and a beta of 2.38. The company's 50-day moving average is $16.03 and its 200 day moving average is $16.29. Rocket Companies, Inc. has a 12-month low of $9.78 and a 12-month high of $21.38.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The firm had revenue of $647.00 million for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm posted ($0.01) earnings per share. The business's revenue was down 46.2% compared to the same quarter last year. On average, equities analysts predict that Rocket Companies, Inc. will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RKT. UBS Group reduced their target price on Rocket Companies from $14.00 to $12.50 and set a "sell" rating for the company in a report on Thursday, November 14th. Wedbush reaffirmed a "neutral" rating and set a $13.00 target price (down previously from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. Royal Bank of Canada lowered their target price on shares of Rocket Companies from $20.00 to $18.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 13th. Keefe, Bruyette & Woods reduced their price target on shares of Rocket Companies from $20.00 to $16.00 and set a "market perform" rating for the company in a research report on Thursday, November 14th. Finally, Piper Sandler lowered their price objective on Rocket Companies from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Five analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $15.13.

Rocket Companies 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.