27,604 Shares in Rocket Companies, Inc. $RKT Acquired by CAP Partners LLC

CAP Partners LLC bought a new position in Rocket Companies, Inc. (NYSE:RKT) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 27,604 shares of the company’s stock, valued at approximately $535,000.

Several other hedge funds have also bought and sold shares of the stock. Royal Bank of Canada boosted its stake in shares of Rocket Companies by 48.9% during the 1st quarter. Royal Bank of Canada now owns 69,641 shares of the company’s stock worth $841,000 after purchasing an additional 22,861 shares during the period. Amundi raised its stake in Rocket Companies by 3.1% in the 1st quarter. Amundi now owns 33,416 shares of the company’s stock worth $403,000 after acquiring an additional 997 shares during the last quarter. AQR Capital Management LLC boosted its position in Rocket Companies by 1,086.5% in the first quarter. AQR Capital Management LLC now owns 400,467 shares of the company’s stock valued at $4,734,000 after buying an additional 366,716 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Rocket Companies by 12.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,619 shares of the company’s stock valued at $4,473,000 after acquiring an additional 40,326 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Rocket Companies in the 1st quarter valued at $568,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Royal Bank Of Canada lifted their price objective on Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. UBS Group set a $17.00 price objective on shares of Rocket Companies and gave the stock a “neutral” rating in a research report on Friday, October 10th. BTIG Research reiterated a “buy” rating and issued a $25.00 target price on shares of Rocket Companies in a research report on Wednesday, November 19th. Barclays set a $22.00 price objective on shares of Rocket Companies and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Finally, Morgan Stanley upped their target price on shares of Rocket Companies from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.50.

Rocket Companies Stock Down 0.8%

Shares of NYSE RKT opened at $23.25 on Monday. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 19.68. Rocket Companies, Inc. has a 12-month low of $10.94 and a 12-month high of $24.36. The company has a market capitalization of $48.93 billion, a PE ratio of 290.66 and a beta of 2.29. The firm’s 50-day moving average is $19.44 and its two-hundred day moving average is $18.07.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, October 30th. The company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Rocket Companies had a positive return on equity of 2.83% and a negative net margin of 1.77%.The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the firm earned $0.08 EPS. Rocket Companies’s quarterly revenue was up 148.1% on a year-over-year basis. Equities analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Insider Transactions at Rocket Companies

In other Rocket Companies news, Director Matthew Rizik sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $19.44, for a total transaction of $48,600.00. Following the sale, the director directly owned 1,066,036 shares of the company’s stock, valued at $20,723,739.84. This trade represents a 0.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 40,000 shares of company stock valued at $779,425. 92.64% of the stock is currently owned by corporate insiders.

Rocket Companies Company Profile

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.