Virtu Financial LLC Boosts Position in Rocket Companies, Inc. (NYSE:RKT)

Virtu Financial LLC lifted its holdings in Rocket Companies, Inc. (NYSE:RKT) by 22.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,135 shares of the company’s stock after acquiring an additional 2,925 shares during the period. Virtu Financial LLC’s holdings in Rocket Companies were worth $310,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Rocket Companies during the 3rd quarter worth $39,000. Quarry LP lifted its stake in shares of Rocket Companies by 858.8% during the second quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $60,000 after purchasing an additional 3,899 shares in the last quarter. Blue Trust Inc. purchased a new stake in shares of Rocket Companies in the second quarter worth about $61,000. V Square Quantitative Management LLC acquired a new stake in shares of Rocket Companies in the third quarter valued at about $120,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Rocket Companies by 3,429.7% during the 3rd quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock valued at $142,000 after buying an additional 7,168 shares during the period. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Performance

Shares of Rocket Companies stock opened at $12.24 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. Rocket Companies, Inc. has a 1 year low of $10.87 and a 1 year high of $21.38. The firm’s 50-day simple moving average is $15.23 and its 200-day simple moving average is $16.26. The firm has a market cap of $24.41 billion, a PE ratio of -76.47 and a beta of 2.38.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The firm had revenue of $647.00 million during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company earned ($0.01) earnings per share. Rocket Companies’s quarterly revenue was down 46.2% on a year-over-year basis. Equities analysts forecast that Rocket Companies, Inc. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RKT. JPMorgan Chase & Co. reduced their price target on Rocket Companies from $19.00 to $14.00 and set an “underweight” rating on the stock in a research report on Monday, December 9th. Bank of America boosted their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 14th. Royal Bank of Canada lowered their price target on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday, November 13th. Wedbush reiterated a “neutral” rating and issued a $13.00 price objective (down previously from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $11.50 price objective (down from $16.00) on shares of Rocket Companies in a research report on Tuesday, December 10th. Six analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and a consensus target price of $14.33.

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.