KBC Group NV Acquires 2,226 Shares of Rocket Companies, Inc. (NYSE:RKT)

KBC Group NV increased its stake in Rocket Companies, Inc. (NYSE:RKT) by 58.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,056 shares of the company’s stock after purchasing an additional 2,226 shares during the quarter. KBC Group NV’s holdings in Rocket Companies were worth $68,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Wedmont Private Capital boosted its position in shares of Rocket Companies by 8.9% in the third quarter. Wedmont Private Capital now owns 15,937 shares of the company’s stock worth $279,000 after purchasing an additional 1,305 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Rocket Companies during the 3rd quarter valued at $39,000. Blue Trust Inc. boosted its holdings in Rocket Companies by 54.1% in the 3rd quarter. Blue Trust Inc. now owns 6,438 shares of the company’s stock worth $124,000 after buying an additional 2,261 shares during the period. DMC Group LLC increased its stake in Rocket Companies by 8.1% in the 3rd quarter. DMC Group LLC now owns 31,775 shares of the company’s stock worth $610,000 after buying an additional 2,373 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Rocket Companies by 14.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,566 shares of the company’s stock valued at $433,000 after acquiring an additional 2,766 shares during the period. 4.59% of the stock is owned by institutional investors.

Rocket Companies Price Performance

Rocket Companies stock opened at $12.92 on Tuesday. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The firm’s fifty day moving average is $11.97 and its 200 day moving average is $15.54. The company has a market cap of $25.77 billion, a price-to-earnings ratio of -80.74 and a beta of 2.43.

Rocket Companies (NYSE:RKT) last announced its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $647.00 million for the quarter, compared to analysts’ expectations of $1.25 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The business’s revenue was down 46.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) EPS. Sell-side analysts forecast that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on RKT. Keefe, Bruyette & Woods dropped their price objective on Rocket Companies from $11.50 to $10.50 and set an “underperform” rating for the company in a research note on Friday, January 3rd. Wedbush reissued a “neutral” rating and issued a $13.00 price target (down from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. The Goldman Sachs Group cut their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Bank of America boosted their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 14th. Finally, Piper Sandler cut their target price on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Five research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, Rocket Companies currently has an average rating of “Hold” and an average target price of $13.50.

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.