Townsquare Capital LLC Purchases Shares of 12,417 Rocket Companies, Inc. (NYSE:RKT)

Townsquare Capital LLC purchased a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,417 shares of the company’s stock, valued at approximately $238,000.

A number of other institutional investors have also bought and sold shares of the company. Lakeshore Financial Planning Inc. boosted 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 worth $185,000 after purchasing an additional 1,000 shares in the last quarter. Wedmont Private Capital boosted its position in shares of Rocket Companies by 8.9% during the 3rd quarter. Wedmont Private Capital now owns 15,937 shares of the company’s stock worth $279,000 after purchasing an additional 1,305 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Rocket Companies by 6.0% during the 2nd quarter. Arizona State Retirement System now owns 34,974 shares of the company’s stock worth $479,000 after purchasing an additional 1,979 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Rocket Companies during the 3rd quarter worth about $39,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Rocket Companies by 7.1% during the 2nd 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 in the last quarter. Institutional investors own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

RKT has been the topic of a number of research analyst reports. UBS Group cut their price objective on shares of Rocket Companies from $14.00 to $12.50 and set a “sell” rating on the stock in a research report on Thursday, November 14th. Wedbush restated a “neutral” rating and issued a $13.00 target price (down previously from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on shares of 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 lowered their target price on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 13th. Finally, Morgan Stanley assumed coverage on shares of Rocket Companies in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $18.00 target price on the stock. Five analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.13.

Rocket Companies Stock Up 0.5 %

Rocket Companies stock opened at $13.57 on Friday. Rocket Companies, Inc. has a twelve month low of $10.08 and a twelve month high of $21.38. The firm has a 50 day moving average price of $16.03 and a 200-day moving average price of $16.29. The company has a market capitalization of $27.06 billion, a P/E ratio of -84.78 and a beta of 2.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51.

Rocket Companies (NYSE:RKT) last released its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The firm had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm earned ($0.01) EPS. The company’s revenue was down 46.2% compared to the same quarter last year. As a group, equities analysts predict that Rocket Companies, Inc. will post 0.16 EPS 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.