nVerses Capital LLC Makes New $472,000 Investment in Rocket Companies, Inc. (NYSE:RKT)

nVerses Capital LLC bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 24,600 shares of the company’s stock, valued at approximately $472,000.

Several other large investors have also recently added to or reduced their stakes in RKT. Vanguard Group Inc. lifted its position in Rocket Companies by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after purchasing an additional 1,101,325 shares during the period. Wedmont Private Capital acquired a new stake in Rocket Companies during the first quarter valued at approximately $154,000. First Affirmative Financial Network raised its holdings in shares of Rocket Companies by 6.1% in the 1st quarter. First Affirmative Financial Network now owns 14,272 shares of the company’s stock worth $208,000 after buying an additional 822 shares in the last quarter. Atlas Capital Advisors LLC boosted its stake in Rocket Companies by 1,682.6% in the 1st quarter. Atlas Capital Advisors LLC now owns 17,844 shares of the company’s stock valued at $260,000 after buying an additional 16,843 shares in the last quarter. Finally, DMC Group LLC raised its stake in Rocket Companies by 3.7% during the first quarter. DMC Group LLC now owns 29,077 shares of the company’s stock worth $423,000 after acquiring an additional 1,029 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Price Performance

Shares of RKT stock opened at $18.01 on Friday. The firm has a market cap of $35.83 billion, a price-to-earnings ratio of 257.32 and a beta of 2.44. Rocket Companies, Inc. has a 12 month low of $7.17 and a 12 month high of $21.38. The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.27. The stock has a 50-day moving average price of $19.02 and a 200 day moving average price of $15.77.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. Rocket Companies’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) EPS. Research analysts expect that Rocket Companies, Inc. will post 0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RKT. Keefe, Bruyette & Woods raised shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a report on Monday, August 5th. Bank of America boosted their target price on Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Wedbush increased their price target on Rocket Companies from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Royal Bank of Canada lifted their price objective on Rocket Companies from $16.00 to $20.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.89.

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.