EVR Research LP Acquires Shares of 300,000 Rocket Companies, Inc. $RKT

EVR Research LP bought a new position in Rocket Companies, Inc. (NYSE:RKT) in the second quarter, Holdings Channel reports. The firm bought 300,000 shares of the company’s stock, valued at approximately $4,254,000. Rocket Companies makes up about 1.8% of EVR Research LP’s investment portfolio, making the stock its 14th largest position.

Other institutional investors have also recently made changes to their positions in the company. North Capital Inc. grew its stake in shares of Rocket Companies by 287.2% during the 2nd quarter. North Capital Inc. now owns 1,820 shares of the company’s stock worth $26,000 after acquiring an additional 1,350 shares during the period. SouthState Corp raised its stake in Rocket Companies by 2,044.8% in the 2nd quarter. SouthState Corp now owns 2,059 shares of the company’s stock valued at $29,000 after acquiring an additional 1,963 shares during the period. Brooklyn Investment Group lifted its holdings in Rocket Companies by 251.3% during the first quarter. Brooklyn Investment Group now owns 3,390 shares of the company’s stock valued at $41,000 after purchasing an additional 2,425 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Rocket Companies by 18.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,890 shares of the company’s stock worth $55,000 after purchasing an additional 605 shares during the period. Finally, TFC Financial Management Inc. purchased a new position in shares of Rocket Companies in the second quarter worth about $57,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Down 3.4%

RKT opened at $18.70 on Friday. The firm has a market capitalization of $39.35 billion, a P/E ratio of 233.73 and a beta of 2.26. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $22.56. The company has a fifty day moving average price of $17.61 and a 200-day moving average price of $16.83. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 19.68.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.65 billion. Rocket Companies had a positive return on equity of 2.83% and a negative net margin of 1.77%.The firm’s revenue was up 148.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 earnings per share. Equities research analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RKT shares. Barclays set a $19.00 price target on shares of Rocket Companies and gave the company a “cautious” rating in a research note on Monday, October 6th. Royal Bank Of Canada boosted their target price on shares of Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a report on Wednesday, October 8th. Oppenheimer started coverage on Rocket Companies in a report on Thursday, November 13th. They issued an “outperform” rating and a $25.00 price target for the company. BTIG Research reiterated a “buy” rating and issued a $25.00 price target on shares of Rocket Companies in a research report on Wednesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Rocket Companies in a report on Monday, October 13th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.18.

Insider Buying and Selling at Rocket Companies

In other news, Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $18.99, for a total transaction of $47,475.00. Following the completion of the sale, the director owned 1,086,036 shares in the company, valued at approximately $20,623,823.64. This trade represents a 0.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 17,500 shares of company stock valued at $325,650. Company insiders own 92.64% of the company’s stock.

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.