DMC Group LLC Purchases 2,373 Shares of Rocket Companies, Inc. (NYSE:RKT)

DMC Group LLC grew its position in Rocket Companies, Inc. (NYSE:RKT) by 8.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 31,775 shares of the company’s stock after buying an additional 2,373 shares during the period. DMC Group LLC’s holdings in Rocket Companies were worth $610,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP increased its position in shares of Rocket Companies by 858.8% during the second quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $60,000 after acquiring an additional 3,899 shares in the last quarter. Blue Trust Inc. purchased a new position in shares of Rocket Companies in the second quarter worth $61,000. EntryPoint Capital LLC purchased a new position in shares of Rocket Companies in the first quarter worth $77,000. V Square Quantitative Management LLC bought a new position in shares of Rocket Companies during the third quarter valued at $120,000. Finally, Bridges Investment Management Inc. purchased a new stake in shares of Rocket Companies during the second quarter valued at $143,000. Institutional investors own 4.59% of the company’s stock.

Analyst Ratings Changes

RKT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price 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 boosted their price objective on shares of Rocket Companies from $10.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a report on Monday, August 5th. UBS Group boosted their target price on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a research note on Monday, September 16th. Finally, Bank of America increased their price target on Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.89.

Rocket Companies Stock Performance

NYSE:RKT opened at $18.01 on Friday. Rocket Companies, Inc. has a one year low of $7.17 and a one year high of $21.38. The business has a fifty day moving average price of $19.02 and a 200-day moving average price of $15.81. The firm has a market capitalization of $35.81 billion, a price-to-earnings ratio of 163.73 and a beta of 2.44. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18.

Rocket Companies (NYSE:RKT) last posted its quarterly 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. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.22 billion. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. Sell-side analysts forecast that Rocket Companies, Inc. will post 0.23 EPS 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.