Aigen Investment Management LP trimmed its holdings in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 85.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,771 shares of the company's stock after selling 82,280 shares during the period. Aigen Investment Management LP's holdings in Rocket Companies were worth $199,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. purchased a new position in Rocket Companies during the 4th quarter worth $26,000. Tennessee Valley Asset Management Partners bought a new stake in Rocket Companies in the 4th quarter worth about $37,000. Westpac Banking Corp grew its position in Rocket Companies by 61.8% in the 4th quarter. Westpac Banking Corp now owns 5,927 shares of the company's stock worth $86,000 after purchasing an additional 2,264 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Rocket Companies during the 4th quarter worth approximately $179,000. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Rocket Companies in the 3rd quarter worth approximately $188,000. Institutional investors and hedge funds own 4.59% of the company's stock.
Rocket Companies Stock Performance
RKT stock traded up $0.08 during trading on Tuesday, reaching $13.92. The stock had a trading volume of 1,469,595 shares, compared to its average volume of 2,521,040. The firm has a market cap of $27.68 billion, a PE ratio of 126.56 and a beta of 2.43. The company has a current ratio of 12.83, a quick ratio of 12.83 and a debt-to-equity ratio of 1.20. The stock's 50 day moving average is $13.30 and its two-hundred day moving average is $12.33. Rocket Companies, Inc. has a 52 week low of $7.17 and a 52 week high of $15.60.
Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.08. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.02 billion. Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.05%. As a group, equities analysts anticipate that Rocket Companies, Inc. will post 0.24 earnings per share for the current year.
Analysts Set New Price Targets
RKT has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on Rocket Companies from $12.00 to $14.00 and gave the company a "sector perform" rating in a report on Friday, May 3rd. Citigroup upped their price objective on Rocket Companies from $10.00 to $11.00 and gave the company a "sell" rating in a research note on Wednesday, February 28th. Wedbush reissued a "neutral" rating and issued a $13.00 price target on shares of Rocket Companies in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their price objective on shares of Rocket Companies from $10.50 to $11.00 and gave the stock an "underweight" rating in a report on Friday, May 3rd. Finally, Piper Sandler boosted their target price on shares of Rocket Companies from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Tuesday, May 7th. Six investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.60.
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About Rocket Companies
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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.
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