Entropy Technologies LP Raises Holdings in Rocket Companies, Inc. (NYSE:RKT)

Entropy Technologies LP raised its holdings in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 105.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 93,695 shares of the company's stock after acquiring an additional 48,098 shares during the quarter. Entropy Technologies LP's holdings in Rocket Companies were worth $1,055,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Rocket Companies during the 3rd quarter worth about $39,000. KBC Group NV lifted its holdings in shares of Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after purchasing an additional 2,226 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Rocket Companies in the 3rd quarter valued at about $120,000. Blue Trust Inc. lifted its holdings in shares of Rocket Companies by 54.1% in the 3rd quarter. Blue Trust Inc. now owns 6,438 shares of the company's stock valued at $124,000 after purchasing an additional 2,261 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Rocket Companies by 3,429.7% in the 3rd quarter. International Assets Investment Management LLC now owns 7,377 shares of the company's stock valued at $142,000 after purchasing an additional 7,168 shares during the last quarter. 4.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on RKT shares. Keefe, Bruyette & Woods reduced their target price on Rocket Companies from $11.50 to $10.50 and set an "underperform" rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group reduced their target price on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their target price on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a report on Tuesday, January 14th. Piper Sandler reduced their target price on Rocket Companies from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Finally, Morgan Stanley reduced their target price on Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday, December 19th. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $13.50.

Rocket Companies Stock Performance

RKT traded up $0.22 on Friday, hitting $13.08. 2,525,195 shares of the company traded hands, compared to its average volume of 3,147,168. The stock has a market capitalization of $26.08 billion, a PE ratio of -81.72 and a beta of 2.43. The company has a 50 day moving average of $11.88 and a 200-day moving average of $15.46. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month 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 issued 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. The business had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The company's revenue for the quarter was down 46.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) EPS. Sell-side analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current 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.