Entropy Technologies LP Takes $875,000 Position in Rocket Companies, Inc. (NYSE:RKT)

Entropy Technologies LP bought a new stake in Rocket Companies, Inc. (NYSE:RKT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 45,597 shares of the company’s stock, valued at approximately $875,000.

Several other institutional investors also recently bought and sold shares of RKT. Marshall Wace LLP purchased a new position in Rocket Companies in the 2nd quarter worth approximately $10,811,000. Renaissance Technologies LLC grew its holdings in shares of Rocket Companies by 26.1% in the second quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock worth $33,821,000 after purchasing an additional 510,400 shares during the last quarter. Boston Partners increased its stake 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 buying an additional 381,841 shares during the period. Philip James Wealth Mangement LLC bought a new stake in Rocket Companies during the 3rd quarter valued at $6,811,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Rocket Companies during the 3rd quarter valued at $3,655,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Rocket Companies from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Barclays lowered their price target on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday. Wedbush reiterated 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. UBS Group boosted their target price on Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company lifted their price target on shares of Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.48.

Rocket Companies Price Performance

NYSE RKT opened at $14.13 on Thursday. Rocket Companies, Inc. has a 12 month low of $8.39 and a 12 month high of $21.38. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18. The stock’s fifty day moving average price is $17.90 and its 200-day moving average price is $16.28.

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.