FORA Capital LLC Makes New Investment in Rocket Companies, Inc. (NYSE:RKT)

FORA Capital LLC bought a new stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 67,621 shares of the company's stock, valued at approximately $1,298,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lakeshore Financial Planning Inc. grew its holdings in shares of Rocket Companies by 8.0% in the second quarter. Lakeshore Financial Planning Inc. now owns 13,496 shares of the company's stock valued at $185,000 after purchasing an additional 1,000 shares during the period. Wedmont Private Capital grew its stake in shares of Rocket Companies by 8.9% in the 3rd quarter. Wedmont Private Capital now owns 15,937 shares of the company's stock valued at $279,000 after buying an additional 1,305 shares during the period. Arizona State Retirement System grew its stake in shares of Rocket Companies by 6.0% in the 2nd quarter. Arizona State Retirement System now owns 34,974 shares of the company's stock valued at $479,000 after buying an additional 1,979 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Rocket Companies during the 3rd quarter worth approximately $39,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Rocket Companies by 7.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,217 shares of the company's stock valued at $428,000 after buying an additional 2,064 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Stock Up 2.0 %

Shares of Rocket Companies stock traded up $0.28 during trading hours on Thursday, reaching $14.34. 2,553,074 shares of the company were exchanged, compared to its average volume of 2,912,460. The firm has a market cap of $28.60 billion, a PE ratio of -89.63 and a beta of 2.46. The stock's fifty day moving average is $16.64 and its 200 day moving average is $16.31. Rocket Companies, Inc. has a 1 year low of $9.06 and a 1 year high of $21.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RKT. JPMorgan Chase & Co. increased their price objective on Rocket Companies from $15.00 to $19.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Wells Fargo & Company raised their price objective on Rocket Companies from $13.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Friday, August 2nd. Barclays decreased their target price on shares of Rocket Companies from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Wednesday, November 13th. Keefe, Bruyette & Woods dropped 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, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Rocket Companies from $11.00 to $15.00 and gave the stock a "hold" rating in a report on Friday, August 2nd. Five investment 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 a consensus rating of "Hold" and a consensus price target of $15.13.

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.