EntryPoint Capital LLC Makes New Investment in Rocket Companies, Inc. (NYSE:RKT)

EntryPoint Capital LLC bought a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,290 shares of the company’s stock, valued at approximately $77,000.

A number of other hedge funds have also recently modified their holdings of RKT. First Affirmative Financial Network boosted its holdings in Rocket Companies by 6.1% in the first quarter. First Affirmative Financial Network now owns 14,272 shares of the company’s stock worth $208,000 after acquiring an additional 822 shares in the last quarter. DMC Group LLC lifted its holdings in shares of Rocket Companies by 3.7% during the first quarter. DMC Group LLC now owns 29,077 shares of the company’s stock valued at $423,000 after purchasing an additional 1,029 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Rocket Companies during the fourth quarter valued at $26,000. Vima LLC bought a new stake in Rocket Companies in the 4th quarter worth about $31,000. Finally, Westpac Banking Corp raised its position in Rocket Companies by 61.8% in the 4th quarter. Westpac Banking Corp now owns 5,927 shares of the company’s stock worth $86,000 after buying an additional 2,264 shares during the last quarter. Institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RKT shares. Piper Sandler raised their price target on shares of Rocket Companies from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Barclays lifted their target price on shares of Rocket Companies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 9th. Royal Bank of Canada boosted their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the company a “sector perform” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. raised their price target on Rocket Companies from $11.00 to $13.50 and gave the stock an “underweight” rating in a research note on Monday, July 8th. Finally, Wedbush reiterated a “neutral” rating and set a $13.00 price objective on shares of Rocket Companies in a research report on Friday, May 3rd. Six analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and an average target price of $11.10.

Rocket Companies Price Performance

NYSE RKT opened at $15.91 on Friday. The stock has a market cap of $31.63 billion, a price-to-earnings ratio of 144.64 and a beta of 2.43. Rocket Companies, Inc. has a 12 month low of $7.17 and a 12 month high of $15.99. The company’s 50 day moving average is $14.25 and its two-hundred day moving average is $13.17. The company has a current ratio of 12.83, a quick ratio of 12.83 and a debt-to-equity ratio of 1.20.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.02 billion. Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.05%. As a group, research analysts anticipate that Rocket Companies, Inc. will post 0.23 earnings per share for the current year.

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.