347,435 Shares in Rocket Companies, Inc. (NYSE:RKT) Purchased by Van ECK Associates Corp

Van ECK Associates Corp acquired a new position in Rocket Companies, Inc. (NYSE:RKT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 347,435 shares of the company’s stock, valued at approximately $6,723,000.

Other hedge funds have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its stake in Rocket Companies by 12.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 83,984 shares of the company’s stock valued at $1,625,000 after purchasing an additional 9,384 shares during the last quarter. Citigroup Inc. raised its position in shares of Rocket Companies by 12.9% in the second quarter. Citigroup Inc. now owns 75,332 shares of the company’s stock valued at $1,458,000 after buying an additional 8,610 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Rocket Companies by 38.7% in the second quarter. Rafferty Asset Management LLC now owns 76,623 shares of the company’s stock worth $1,483,000 after buying an additional 21,394 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Rocket Companies during the 2nd quarter worth approximately $2,759,000. Finally, Gratus Capital LLC boosted its stake in Rocket Companies by 10.4% during the second quarter. Gratus Capital LLC now owns 374,379 shares of the company’s stock worth $7,244,000 after buying an additional 35,266 shares during the last quarter. Institutional investors own 3.74% of the company’s stock.

RKT stock opened at $16.78 on Friday. The stock has a market capitalization of $33.35 billion and a PE ratio of 5.41. The company has a fifty day moving average of $17.45 and a 200-day moving average of $19.97. The company has a debt-to-equity ratio of 2.74, a quick ratio of 24.42 and a current ratio of 24.42. Rocket Companies, Inc. has a one year low of $16.22 and a one year high of $43.00.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, August 12th. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. Rocket Companies had a net margin of 2.31% and a return on equity of 94.06%. The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.77 billion. Equities analysts forecast that Rocket Companies, Inc. will post 2.05 earnings per share for the current fiscal year.

RKT has been the subject of several analyst reports. Wedbush lowered Rocket Companies from a “neutral” rating to an “underperform” rating and set a $12.00 price objective for the company. in a research report on Tuesday, July 20th. Royal Bank of Canada cut their price objective on Rocket Companies from $26.00 to $24.00 and set a “sector perform” rating for the company in a research report on Friday, August 13th. Jefferies Financial Group cut shares of Rocket Companies from a “buy” rating to a “hold” rating and decreased their target price for the company from $26.00 to $18.00 in a research report on Monday, July 12th. Argus assumed coverage on shares of Rocket Companies in a research report on Tuesday, June 8th. They set a “buy” rating and a $23.00 price target for the company. Finally, Barclays dropped their target price on shares of Rocket Companies from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Friday, August 13th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.37.

Rocket Companies Profile

Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and eCommerce businesses in the United States and Canada. It operates in 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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to national car rental and online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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Institutional Ownership by Quarter for Rocket Companies (NYSE:RKT)

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