Pointe Capital Management LLC Has $290,000 Stake in Rocket Companies, Inc. (NYSE:RKT)

Pointe Capital Management LLC lessened its position in Rocket Companies, Inc. (NYSE:RKT) by 48.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,030 shares of the company’s stock after selling 18,840 shares during the quarter. Pointe Capital Management LLC’s holdings in Rocket Companies were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. First Affirmative Financial Network grew its holdings in shares of Rocket Companies by 18.0% in the fourth quarter. First Affirmative Financial Network now owns 13,450 shares of the company’s stock worth $195,000 after purchasing an additional 2,052 shares during the last quarter. DMC Group LLC increased its position in shares of Rocket Companies by 11.7% in the third quarter. DMC Group LLC now owns 21,145 shares of the company’s stock valued at $173,000 after acquiring an additional 2,217 shares during the period. Tennessee Valley Asset Management Partners bought a new position in shares of Rocket Companies during the fourth quarter valued at about $37,000. First Eagle Investment Management LLC raised its stake in shares of Rocket Companies by 12.0% during the third quarter. First Eagle Investment Management LLC now owns 35,149 shares of the company’s stock valued at $288,000 after acquiring an additional 3,764 shares during the last quarter. Finally, Kingfisher Capital LLC boosted its holdings in shares of Rocket Companies by 3.0% during the third quarter. Kingfisher Capital LLC now owns 153,098 shares of the company’s stock worth $1,252,000 after purchasing an additional 4,478 shares during the period. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on RKT. Wedbush reaffirmed a “neutral” rating and set a $13.00 price target on shares of Rocket Companies in a research report on Friday. Bank of America raised their price target on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a research note on Monday, March 18th. UBS Group boosted their price objective on shares of Rocket Companies from $8.50 to $10.00 and gave the company a “sell” rating in a research report on Monday, February 26th. Royal Bank of Canada raised their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Citigroup boosted their price target on shares of Rocket Companies from $10.00 to $11.00 and gave the company a “sell” rating in a research report on Wednesday, February 28th. Six investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, Rocket Companies currently has an average rating of “Hold” and a consensus target price of $10.37.

Rocket Companies Stock Up 4.5 %

Rocket Companies stock traded up $0.57 during mid-day trading on Friday, hitting $13.30. The company had a trading volume of 3,508,350 shares, compared to its average volume of 2,202,011. Rocket Companies, Inc. has a 12 month low of $7.17 and a 12 month high of $15.19. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 0.92. The stock’s 50 day moving average price is $12.75 and its two-hundred day moving average price is $11.55. The company has a market capitalization of $26.41 billion, a PE ratio of 120.92, a price-to-earnings-growth ratio of 9.92 and a beta of 2.43.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $885.00 million for the quarter, compared to analysts’ expectations of $762.44 million. Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.06%. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period last year, the company posted ($0.12) earnings per share. As a group, sell-side analysts anticipate that Rocket Companies, Inc. will post 0.26 earnings per share for the current fiscal year.

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.