KBC Group NV Has $73,000 Stock Position in Rocket Companies, Inc. (NYSE:RKT)

KBC Group NV lessened its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 25.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,830 shares of the company’s stock after selling 1,328 shares during the quarter. KBC Group NV’s holdings in Rocket Companies were worth $73,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Rocket Companies during the first quarter worth $2,698,000. Raymond James & Associates raised its position in shares of Rocket Companies by 48.7% in the 3rd quarter. Raymond James & Associates now owns 300,612 shares of the company’s stock worth $5,769,000 after acquiring an additional 98,397 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Rocket Companies in the 3rd quarter valued at about $875,000. Philip James Wealth Mangement LLC acquired a new position in shares of Rocket Companies in the 3rd quarter valued at about $6,811,000. Finally, Boston Partners boosted its position in shares of Rocket Companies by 4.2% during the 1st quarter. Boston Partners now owns 9,382,173 shares of the company’s stock valued at $136,462,000 after purchasing an additional 381,841 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RKT shares. JPMorgan Chase & Co. boosted their price target on Rocket Companies from $15.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Bank of America boosted their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 14th. Morgan Stanley began coverage on shares of Rocket Companies in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $18.00 price target for the company. Wedbush reaffirmed a “neutral” rating and issued a $13.00 price target (down from $18.00) on shares of Rocket Companies in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada cut their price objective on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and a consensus price target of $15.13.

Rocket Companies Stock Performance

Shares of RKT opened at $13.74 on Friday. The firm has a market capitalization of $27.34 billion, a P/E ratio of -85.88 and a beta of 2.46. Rocket Companies, Inc. has a 52 week low of $8.81 and a 52 week high of $21.38. The stock has a 50 day moving average price of $17.01 and a two-hundred day moving average price of $16.28. 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 (NYSE:RKT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The business had revenue of $647.00 million during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm posted ($0.01) EPS. Rocket Companies’s quarterly revenue was down 46.2% compared to the same quarter last year. Equities analysts forecast that Rocket Companies, Inc. will post 0.21 earnings per share for the current fiscal year.

About Rocket Companies

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.