Rocket Companies Sees Unusually Large Options Volume (NYSE:RKT)

Rocket Companies, Inc. (NYSE:RKT) saw unusually large options trading on Friday. Traders acquired 26,989 call options on the company. This is an increase of approximately 134% compared to the typical volume of 11,520 call options.

Rocket Companies Trading Up 5.9 %

Shares of NYSE:RKT traded up $1.11 during mid-day trading on Friday, reaching $19.86. 3,043,703 shares of the company’s stock were exchanged, compared to its average volume of 2,717,500. The firm has a market capitalization of $39.51 billion, a price-to-earnings ratio of 181.65 and a beta of 2.45. The business’s fifty day moving average price is $17.37 and its 200-day moving average price is $14.76. The company has a debt-to-equity ratio of 1.27, a quick ratio of 13.18 and a current ratio of 13.18. Rocket Companies has a twelve month low of $7.17 and a twelve month high of $21.28.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm earned ($0.05) earnings per share. Rocket Companies’s quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts predict that Rocket Companies will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RKT. UBS Group raised their price target on Rocket Companies from $10.50 to $11.50 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Keefe, Bruyette & Woods upgraded Rocket Companies from an “underperform” rating to a “market perform” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their price target on Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Barclays raised their price target on Rocket Companies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 9th. Finally, Wedbush raised their price target on Rocket Companies from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday. Five equities 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, the stock presently has a consensus rating of “Hold” and an average price target of $13.52.

Institutional Investors Weigh In On Rocket Companies

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in Rocket Companies by 1,348.3% during the fourth quarter. International Assets Investment Management LLC now owns 34,889 shares of the company’s stock valued at $505,000 after buying an additional 32,480 shares during the period. Private Advisor Group LLC purchased a new stake in shares of Rocket Companies in the fourth quarter worth $317,000. Charles Schwab Investment Management Inc. grew its stake in shares of Rocket Companies by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 716,974 shares of the company’s stock worth $10,382,000 after acquiring an additional 35,470 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Rocket Companies in the fourth quarter worth $26,000. Finally, Westpac Banking Corp boosted its position in shares of Rocket Companies by 61.8% during the fourth quarter. Westpac Banking Corp now owns 5,927 shares of the company’s stock valued at $86,000 after buying an additional 2,264 shares during the last quarter. 4.59% of the stock is owned by institutional investors.

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.