Charles Schwab Investment Management Inc. Has $19.97 Million Holdings in Rocket Companies, Inc. (NYSE:RKT)

Charles Schwab Investment Management Inc. grew its position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 7.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,040,709 shares of the company's stock after acquiring an additional 72,308 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.05% of Rocket Companies worth $19,971,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in Rocket Companies by 324.4% during the 3rd quarter. Victory Capital Management Inc. now owns 67,161 shares of the company's stock valued at $1,289,000 after acquiring an additional 51,336 shares during the last quarter. Aigen Investment Management LP raised its stake in shares of Rocket Companies by 38.3% in the 3rd quarter. Aigen Investment Management LP now owns 24,978 shares of the company's stock valued at $479,000 after purchasing an additional 6,922 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Rocket Companies during the third quarter worth about $875,000. Versor Investments LP acquired a new position in Rocket Companies in the third quarter worth about $223,000. Finally, Los Angeles Capital Management LLC bought a new stake in Rocket Companies in the third quarter valued at about $3,655,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Companies Stock Performance

RKT stock traded up $0.07 during mid-day trading on Friday, reaching $13.57. 2,502,905 shares of the stock traded hands, compared to its average volume of 3,723,049. The firm has a market capitalization of $27.07 billion, a PE ratio of -84.81 and a beta of 2.38. The business has a 50-day moving average of $15.93 and a two-hundred day moving average of $16.28. Rocket Companies, Inc. has a 52 week low of $10.08 and a 52 week high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. UBS Group lowered 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 reiterated a "neutral" rating and issued a $13.00 target price (down from $18.00) on shares of Rocket Companies in a research note on Wednesday, November 13th. Barclays lowered their price target on shares of Rocket Companies from $14.00 to $13.00 and set an "underweight" rating for the company in a research report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on shares of Rocket Companies from $15.00 to $19.00 and gave the stock an "underweight" rating in a report on Monday, October 7th. Finally, Morgan Stanley assumed coverage on shares of Rocket Companies in a research note on Tuesday, November 5th. They issued an "equal weight" rating and a $18.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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.