Tidal Investments LLC Raises Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Tidal Investments LLC lifted its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 804.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 315,764 shares of the company's stock after purchasing an additional 280,847 shares during the quarter. Tidal Investments LLC's holdings in Rocket Companies were worth $6,060,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lakeshore Financial Planning Inc. grew its position in shares of Rocket Companies by 8.0% during the 2nd 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 in the last quarter. Wedmont Private Capital grew its position in Rocket Companies by 8.9% during the third quarter. Wedmont Private Capital now owns 15,937 shares of the company's stock worth $279,000 after buying an additional 1,305 shares in the last quarter. Arizona State Retirement System grew its position in Rocket Companies by 6.0% during the second quarter. Arizona State Retirement System now owns 34,974 shares of the company's stock worth $479,000 after buying an additional 1,979 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Rocket Companies in the 3rd quarter worth about $39,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Rocket Companies by 7.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,217 shares of the company's stock valued at $428,000 after acquiring an additional 2,064 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RKT shares. UBS Group decreased their price target on shares of Rocket Companies from $14.00 to $12.50 and set a "sell" rating on the stock in a report on Thursday, November 14th. Royal Bank of Canada reduced their target price on Rocket Companies from $20.00 to $18.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 13th. Barclays lowered their price target 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 objective on Rocket Companies from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods reissued an "underperform" rating and set a $11.50 price objective (down from $16.00) on shares of Rocket Companies in a report on Tuesday. Six investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, Rocket Companies has a consensus rating of "Hold" and a consensus target price of $14.33.

Rocket Companies Trading Down 3.2 %

Rocket Companies stock traded down $0.40 during trading hours on Friday, reaching $12.11. The company had a trading volume of 2,404,304 shares, compared to its average volume of 2,895,277. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. Rocket Companies, Inc. has a 12-month low of $10.87 and a 12-month high of $21.38. The company has a 50-day moving average price of $15.34 and a 200 day moving average price of $16.23. The firm has a market cap of $24.16 billion, a price-to-earnings ratio of -75.69 and a beta of 2.38.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $647.00 million for 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 revenue for the quarter was down 46.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) earnings per share. Equities analysts forecast that Rocket Companies, Inc. will post 0.16 earnings per share for the current 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.