Bleakley Financial Group LLC Acquires New Holdings in Rocket Companies, Inc. (NYSE:RKT)

Bleakley Financial Group LLC acquired a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) in the third quarter, HoldingsChannel.com reports. The firm acquired 10,229 shares of the company’s stock, valued at approximately $196,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new position in shares of Rocket Companies in the 2nd quarter valued at approximately $61,000. Quarry LP boosted its stake in Rocket Companies by 858.8% in the second quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $60,000 after buying an additional 3,899 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Rocket Companies in the first quarter valued at about $77,000. Principal Financial Group Inc. bought a new position in Rocket Companies in the first quarter valued at about $150,000. Finally, Bridges Investment Management Inc. bought a new position in shares of Rocket Companies during the second quarter worth about $143,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Stock Up 1.7 %

Rocket Companies stock opened at $16.69 on Friday. The business has a fifty day moving average of $18.91 and a two-hundred day moving average of $15.88. 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 firm has a market cap of $33.20 billion, a P/E ratio of 238.46 and a beta of 2.44. Rocket Companies, Inc. has a twelve month low of $7.17 and a twelve month high of $21.38.

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

Wall Street Analyst Weigh In

RKT has been the subject of several recent research reports. Barclays boosted their price objective on Rocket Companies from $10.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Royal Bank of Canada upped their target price on Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 11th. Wells Fargo & Company raised their price target on Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, UBS Group increased their price objective on Rocket Companies from $11.50 to $14.00 and gave the stock a “sell” rating in a report on Monday, September 16th. Five equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.89.

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.