Vima LLC Invests $31,000 in Rocket Companies, Inc. (NYSE:RKT)

Vima LLC bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT) during the fourth quarter, Holdings Channel.com reports. The fund bought 2,124 shares of the company’s stock, valued at approximately $31,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kingfisher Capital LLC increased its position in Rocket Companies by 16.7% in the 4th quarter. Kingfisher Capital LLC now owns 178,618 shares of the company’s stock valued at $2,586,000 after acquiring an additional 25,520 shares during the period. Capital Fund Management S.A. increased its position in Rocket Companies by 27.8% in the 4th quarter. Capital Fund Management S.A. now owns 502,110 shares of the company’s stock valued at $7,271,000 after acquiring an additional 109,278 shares during the period. Capital World Investors increased its position in Rocket Companies by 0.3% in the 4th quarter. Capital World Investors now owns 3,642,099 shares of the company’s stock valued at $52,738,000 after acquiring an additional 10,068 shares during the period. Bank of Nova Scotia acquired a new position in Rocket Companies in the 4th quarter valued at about $1,852,000. Finally, Hsbc Holdings PLC increased its position in Rocket Companies by 16.2% in the 4th quarter. Hsbc Holdings PLC now owns 46,699 shares of the company’s stock valued at $682,000 after acquiring an additional 6,504 shares during the period. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Price Performance

RKT stock traded down $0.04 on Friday, reaching $14.69. The company had a trading volume of 1,734,750 shares, compared to its average volume of 1,873,091. Rocket Companies, Inc. has a 1 year low of $7.17 and a 1 year high of $15.81. The company has a debt-to-equity ratio of 1.20, a quick ratio of 12.83 and a current ratio of 12.83. The company’s fifty day moving average is $13.46 and its 200 day moving average is $12.83. The company has a market cap of $29.21 billion, a P/E ratio of 133.55 and a beta of 2.44.

Rocket Companies (NYSE:RKT) last posted its earnings results on Thursday, May 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. Rocket Companies had a negative return on equity of 1.05% and a net margin of 0.43%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, research analysts forecast that Rocket Companies, Inc. will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RKT shares. UBS Group lifted their price objective on Rocket Companies from $8.50 to $10.00 and gave the company a “sell” rating in a report on Monday, February 26th. Citigroup lifted their price objective on Rocket Companies from $10.00 to $11.00 and gave the company a “sell” rating in a report on Wednesday, February 28th. Wells Fargo & Company lowered their price objective on Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, February 23rd. Bank of America lifted their price objective on Rocket Companies from $7.00 to $8.00 and gave the company an “underperform” rating in a report on Monday, March 18th. Finally, Royal Bank of Canada lifted their price objective on Rocket Companies from $12.00 to $14.00 and gave the company a “sector perform” rating in a report on Friday, May 3rd. Six analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.60.

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.