Paloma Partners Management Co Purchases Shares of 19,164 Rocket Companies, Inc. (NYSE:RKT)

Paloma Partners Management Co purchased a new stake in 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 fund purchased 19,164 shares of the company’s stock, valued at approximately $368,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James & Associates increased its holdings in Rocket Companies by 48.7% in the 3rd quarter. Raymond James & Associates now owns 300,612 shares of the company’s stock valued at $5,769,000 after buying an additional 98,397 shares during the period. Entropy Technologies LP bought a new stake in shares of Rocket Companies in the 3rd quarter worth about $875,000. Philip James Wealth Mangement LLC bought a new stake in shares of Rocket Companies in the 3rd quarter worth about $6,811,000. Victory Capital Management Inc. grew its holdings in shares of Rocket Companies by 324.4% in the 3rd quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock worth $1,289,000 after purchasing an additional 51,336 shares during the last quarter. Finally, Bleakley Financial Group LLC bought a new stake in shares of Rocket Companies in the 3rd quarter worth about $196,000. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Performance

Rocket Companies stock opened at $13.75 on Thursday. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. Rocket Companies, Inc. has a 1 year low of $9.64 and a 1 year high of $21.38. The company has a market cap of $27.43 billion, a PE ratio of -85.94 and a beta of 2.38. The company’s 50-day moving average is $16.14 and its two-hundred day moving average is $16.31.

Rocket Companies (NYSE:RKT) last released its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) 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 company had revenue of $647.00 million for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the company posted ($0.01) EPS. The company’s revenue was down 46.2% compared to the same quarter last year. Equities analysts anticipate that Rocket Companies, Inc. will post 0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

RKT has been the topic of several analyst reports. Wedbush reaffirmed 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. Morgan Stanley initiated 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. Barclays lowered their target price on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday, November 13th. Piper Sandler reduced their price target on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Rocket Companies from $20.00 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Five research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Rocket Companies presently has a consensus rating of “Hold” and a consensus target price of $15.13.

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.