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

State of New Jersey Common Pension Fund D acquired a new position in shares of Rocket Companies, Inc. (NYSE:RKT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 95,456 shares of the company’s stock, valued at approximately $1,832,000.

A number of other institutional investors have also recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in shares of Rocket Companies in the 2nd quarter valued at $10,811,000. Renaissance Technologies LLC grew its stake in Rocket Companies by 26.1% in the second quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock valued at $33,821,000 after acquiring an additional 510,400 shares during the period. Boston Partners increased its holdings in shares of Rocket Companies by 4.2% in the first quarter. Boston Partners now owns 9,382,173 shares of the company’s stock worth $136,462,000 after acquiring an additional 381,841 shares in the last quarter. Philip James Wealth Mangement LLC acquired a new stake in shares of Rocket Companies during the third quarter worth about $6,811,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Rocket Companies during the 1st quarter valued at about $2,698,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays lowered their target price on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, November 13th. Wedbush reaffirmed a “neutral” rating and issued a $13.00 price objective (down from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. Keefe, Bruyette & Woods lowered their target price on Rocket Companies from $20.00 to $16.00 and set a “market perform” rating for the company in a report on Thursday, November 14th. Morgan Stanley initiated coverage on Rocket Companies in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $18.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and a consensus price target of $15.13.

Rocket Companies Trading Down 1.3 %

NYSE RKT opened at $13.43 on Tuesday. Rocket Companies, Inc. has a 12 month low of $8.81 and a 12 month high of $21.38. The company has a current ratio of 15.47, a quick ratio of 13.18 and a debt-to-equity ratio of 1.51. The stock has a 50 day moving average of $17.43 and a 200-day moving average of $16.32. The company has a market cap of $26.72 billion, a PE ratio of -83.94 and a beta of 2.46.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The firm 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%. The company’s revenue for the quarter was down 46.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.01) earnings per share. On average, equities research analysts anticipate that Rocket Companies, Inc. will post 0.22 EPS for the current fiscal 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.