Victory Capital Management Inc. Has $1.29 Million Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Victory Capital Management Inc. boosted its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 324.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,161 shares of the company's stock after purchasing an additional 51,336 shares during the period. Victory Capital Management Inc.'s holdings in Rocket Companies were worth $1,289,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. 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 purchasing an additional 3,858 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of Rocket Companies during the 1st quarter valued at about $176,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Rocket Companies in the 1st quarter valued at approximately $2,698,000. Boston Partners lifted its holdings in Rocket Companies by 4.2% in the 1st quarter. Boston Partners now owns 9,382,173 shares of the company's stock worth $136,462,000 after purchasing an additional 381,841 shares during the last quarter. Finally, CWM LLC grew its holdings in Rocket Companies by 140.5% during the second quarter. CWM LLC now owns 14,486 shares of the company's stock valued at $198,000 after purchasing an additional 8,462 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on RKT shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Rocket Companies from $11.00 to $15.00 and gave the stock a "hold" rating in a report on Friday, August 2nd. Bank of America boosted their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an "underperform" rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised their price target on Rocket Companies from $15.00 to $19.00 and gave the company an "underweight" rating in a research report on Monday, October 7th. Wedbush reissued a "neutral" rating and set a $13.00 price objective (down previously from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. Finally, UBS Group lowered their target price on Rocket Companies from $14.00 to $12.50 and set a "sell" rating on the stock in a report on Thursday, November 14th. Five research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $15.13.

Rocket Companies Stock Up 2.0 %

Rocket Companies stock traded up $0.28 during mid-day trading on Wednesday, reaching $14.34. The company's stock had a trading volume of 2,547,050 shares, compared to its average volume of 2,912,460. The business's 50 day simple moving average is $16.64 and its 200 day simple moving average is $16.31. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. Rocket Companies, Inc. has a 12 month low of $9.06 and a 12 month high of $21.38. The company has a market capitalization of $28.60 billion, a price-to-earnings ratio of -89.63 and a beta of 2.46.

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

Rocket Companies 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.