Raymond James & Associates Increases Position in Rocket Companies, Inc. (NYSE:RKT)

Raymond James & Associates lifted its position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 48.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 300,612 shares of the company's stock after buying an additional 98,397 shares during the quarter. Raymond James & Associates' holdings in Rocket Companies were worth $5,769,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RKT. Lakeshore Financial Planning Inc. raised 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 worth $185,000 after acquiring an additional 1,000 shares during the last quarter. Wedmont Private Capital raised its stake in 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 purchasing an additional 1,305 shares during the last quarter. Arizona State Retirement System lifted its holdings in 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 purchasing an additional 1,979 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 worth $428,000 after purchasing an additional 2,064 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Rocket Companies by 54.1% during the third quarter. Blue Trust Inc. now owns 6,438 shares of the company's stock worth $124,000 after buying an additional 2,261 shares in the last quarter. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Companies Trading Down 2.4 %

Shares of NYSE:RKT traded down $0.39 during trading on Friday, reaching $15.71. 3,105,849 shares of the stock were exchanged, compared to its average volume of 2,806,981. The firm's 50-day moving average price is $18.46 and its 200 day moving average price is $16.03. The firm has a market cap of $31.25 billion, a price-to-earnings ratio of 224.46 and a beta of 2.44. Rocket Companies, Inc. has a 12-month low of $7.68 and a 12-month high of $21.38. The company has a debt-to-equity ratio of 1.27, a quick ratio of 13.18 and a current ratio of 13.18.

Rocket Companies (NYSE:RKT - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm earned ($0.05) earnings per share. Rocket Companies's revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that Rocket Companies, Inc. will post 0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on RKT. UBS Group upped their price objective on shares of Rocket Companies from $11.50 to $14.00 and gave the company a "sell" rating in a research note on Monday, September 16th. Wedbush raised their price objective on Rocket Companies from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, September 11th. Wells Fargo & Company increased their target price 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. Keefe, Bruyette & Woods raised Rocket Companies from an "underperform" rating to a "market perform" rating in a research note on Monday, August 5th. Finally, Barclays upped their price objective on shares of Rocket Companies from $10.00 to $14.00 and gave the company an "underweight" rating in a research note on Tuesday, October 8th. Five analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. According to data from MarketBeat, Rocket Companies presently has a consensus rating of "Hold" and an average target price of $14.89.

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.