Intrinsic Value Partners LLC Lowers Position in Rocket Companies, Inc. (NYSE:RKT)

Intrinsic Value Partners LLC decreased its position in Rocket Companies, Inc. (NYSE:RKT) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,030 shares of the company’s stock after selling 920 shares during the period. Intrinsic Value Partners LLC’s holdings in Rocket Companies were worth $350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Rocket Companies by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company’s stock worth $140,976,000 after acquiring an additional 431,054 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Rocket Companies by 2.2% during the fourth quarter. JPMorgan Chase & Co. now owns 8,161,979 shares of the company’s stock worth $91,904,000 after purchasing an additional 174,978 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Rocket Companies by 52.7% during the fourth quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company’s stock worth $91,455,000 after purchasing an additional 2,804,090 shares in the last quarter. Wellington Management Group LLP boosted its position in Rocket Companies by 174.5% during the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock worth $52,980,000 after purchasing an additional 2,990,837 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its position in Rocket Companies by 37.3% during the fourth quarter. Voloridge Investment Management LLC now owns 2,187,240 shares of the company’s stock worth $24,628,000 after purchasing an additional 593,708 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Rocket Companies from $13.00 to $14.00 and gave the stock a “market perform” rating in a research report on Thursday, July 10th. UBS Group upped their price objective on shares of Rocket Companies from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Barclays raised shares of Rocket Companies from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group increased their price target on Rocket Companies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.42.

Rocket Companies Trading Down 3.4%

NYSE:RKT opened at $14.69 on Thursday. The firm has a market capitalization of $29.38 billion, a PE ratio of -489.67 and a beta of 2.28. The company has a debt-to-equity ratio of 1.37, a current ratio of 12.62 and a quick ratio of 12.62. Rocket Companies, Inc. has a 12 month low of $10.06 and a 12 month high of $21.38. The business’s 50-day moving average is $13.86 and its two-hundred day moving average is $13.25.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.26 billion. Rocket Companies had a net margin of 0.06% and a return on equity of 3.61%. The business’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 earnings per share. Research analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

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.