National Bank of Canada FI Acquires 143,847 Shares of Rocket Companies, Inc. (NYSE:RKT)

National Bank of Canada FI boosted its position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 6,932.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,922 shares of the company's stock after acquiring an additional 143,847 shares during the period. National Bank of Canada FI's holdings in Rocket Companies were worth $2,800,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RKT. Capital Performance Advisors LLP acquired a new position in shares of Rocket Companies during the 3rd quarter worth about $39,000. Blue Trust Inc. acquired a new position in shares of Rocket Companies during the second quarter worth approximately $61,000. Quarry LP boosted its position in shares of Rocket Companies by 858.8% in the second quarter. Quarry LP now owns 4,353 shares of the company's stock valued at $60,000 after acquiring an additional 3,899 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Rocket Companies in the third quarter worth $120,000. Finally, International Assets Investment Management LLC increased its position in Rocket Companies by 3,429.7% during the third quarter. International Assets Investment Management LLC now owns 7,377 shares of the company's stock worth $142,000 after acquiring an additional 7,168 shares during the period. 4.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods restated an "underperform" rating and issued a $11.50 price target (down from $16.00) on shares of Rocket Companies in a research report on Tuesday. Barclays decreased their target price on Rocket Companies from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Wednesday, November 13th. Piper Sandler cut their price target on Rocket Companies from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Bank of America lifted their price objective on Rocket Companies from $14.00 to $15.00 and gave the stock an "underperform" rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada lowered their price objective on Rocket Companies from $20.00 to $18.00 and set a "sector perform" rating on the stock in a research report on Wednesday, November 13th. Six analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, Rocket Companies has an average rating of "Hold" and an average target price of $14.33.

Rocket Companies Price Performance

Shares of NYSE RKT traded down $0.40 during midday trading on Friday, reaching $12.11. 2,404,304 shares of the company traded hands, compared to its average volume of 2,895,277. Rocket Companies, Inc. has a 12 month low of $10.87 and a 12 month 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. The stock's 50-day simple moving average is $15.34 and its 200-day simple moving average is $16.23. The firm has a market cap of $24.16 billion, a PE ratio of -75.69 and a beta of 2.38.

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