Entropy Technologies LP Acquires 48,098 Shares of Rocket Companies, Inc. (NYSE:RKT)

Entropy Technologies LP raised its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 105.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 93,695 shares of the company’s stock after purchasing an additional 48,098 shares during the quarter. Entropy Technologies LP’s holdings in Rocket Companies were worth $1,055,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Rocket Companies by 44.7% during the third quarter. State Street Corp now owns 4,108,189 shares of the company’s stock valued at $78,836,000 after purchasing an additional 1,269,795 shares during the last quarter. Philip James Wealth Mangement LLC purchased a new stake in Rocket Companies during the 3rd quarter valued at $6,811,000. Tidal Investments LLC raised its stake in Rocket Companies by 804.3% during the 3rd quarter. Tidal Investments LLC now owns 315,764 shares of the company’s stock valued at $6,060,000 after buying an additional 280,847 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Rocket Companies during the 3rd quarter valued at $3,655,000. Finally, Lincoln Capital Corp purchased a new position in shares of Rocket Companies in the 4th quarter worth $1,831,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Trading Up 1.5 %

Shares of Rocket Companies stock opened at $12.92 on Tuesday. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The company has a market capitalization of $25.77 billion, a P/E ratio of -80.74 and a beta of 2.43. The company has a fifty day moving average of $11.97 and a 200 day moving average of $15.54.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, hitting 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 firm had revenue of $647.00 million during the quarter, compared to analyst estimates of $1.25 billion. The business’s quarterly revenue was down 46.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) earnings per share. On average, sell-side analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Bank of America upped their price objective on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 14th. UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and reduced their price target for the company from $12.50 to $11.50 in a research report on Friday, January 10th. Keefe, Bruyette & Woods dropped their price objective on shares of Rocket Companies from $11.50 to $10.50 and set an “underperform” rating on the stock in a report on Friday, January 3rd. Piper Sandler reduced their target price on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $13.50.

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.