State of New Jersey Common Pension Fund D Takes Position in Rocket Companies, Inc. (NYSE:RKT)

State of New Jersey Common Pension Fund D purchased a new stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 95,456 shares of the company's stock, valued at approximately $1,832,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in shares of Rocket Companies by 4.1% in the 1st quarter. Swiss National Bank now owns 237,000 shares of the company's stock valued at $3,448,000 after purchasing an additional 9,300 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Rocket Companies in the first quarter worth about $77,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Rocket Companies by 7.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,389 shares of the company's stock valued at $836,000 after acquiring an additional 3,858 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in Rocket Companies during the 1st quarter valued at about $176,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Rocket Companies during the 1st quarter worth approximately $2,698,000. Institutional investors own 4.59% of the company's stock.

Rocket Companies Stock Up 2.6 %

RKT traded up $0.35 during trading on Tuesday, reaching $13.78. The stock had a trading volume of 1,914,422 shares, compared to its average volume of 2,900,334. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The stock's 50 day moving average is $17.43 and its two-hundred day moving average is $16.32. Rocket Companies, Inc. has a one year low of $8.81 and a one year high of $21.38.

Rocket Companies (NYSE:RKT - Get Free Report) last issued 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. The company had revenue of $647.00 million during the quarter, compared to analysts' expectations of $1.25 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. Rocket Companies's revenue was down 46.2% on a year-over-year basis. During the same period last year, the company posted ($0.01) EPS. On average, analysts expect that Rocket Companies, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RKT has been the subject of a number of analyst reports. Morgan Stanley assumed coverage on Rocket Companies in a research note on Tuesday, November 5th. They set an "equal weight" rating and a $18.00 price objective for the company. Wells Fargo & Company raised their price target on shares of Rocket Companies from $13.00 to $15.00 and gave the stock an "equal weight" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Rocket Companies from $15.00 to $19.00 and gave the company an "underweight" rating in a research report on Monday, October 7th. Bank of America increased their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an "underperform" rating in a report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods lowered their price target on 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. Five analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $15.13.

Rocket Companies Company Profile

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.