DMC Group LLC Acquires 2,373 Shares of Rocket Companies, Inc. (NYSE:RKT)

DMC Group LLC lifted its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 8.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,775 shares of the company’s stock after purchasing an additional 2,373 shares during the period. DMC Group LLC’s holdings in Rocket Companies were worth $610,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Lakeshore Financial Planning Inc. lifted 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 buying an additional 1,000 shares during the last quarter. Wedmont Private Capital lifted its holdings in Rocket Companies by 8.9% during the third quarter. Wedmont Private Capital now owns 15,937 shares of the company’s stock valued at $279,000 after purchasing an additional 1,305 shares during the last quarter. Arizona State Retirement System lifted its holdings in Rocket Companies by 6.0% during the second quarter. Arizona State Retirement System now owns 34,974 shares of the company’s stock valued at $479,000 after purchasing an additional 1,979 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Rocket Companies by 7.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,217 shares of the company’s stock worth $428,000 after purchasing an additional 2,064 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Rocket Companies by 54.1% in the third quarter. Blue Trust Inc. now owns 6,438 shares of the company’s stock worth $124,000 after purchasing an additional 2,261 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Barclays raised their price target on Rocket Companies from $10.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, October 8th. Bank of America raised their price objective on shares of Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their price objective on shares of Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their target price on shares of Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 11th. Finally, Wedbush boosted their price target on shares of Rocket Companies from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.89.

Rocket Companies Stock Performance

NYSE RKT opened at $18.01 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 13.18 and a current ratio of 13.18. Rocket Companies, Inc. has a fifty-two week low of $7.17 and a fifty-two week high of $21.38. The stock has a market cap of $35.81 billion, a P/E ratio of 163.73 and a beta of 2.44. The stock has a 50 day simple moving average of $19.02 and a two-hundred day simple moving average of $15.81.

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

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.