Eurizon Capital SGR S.p.A. Takes $1.18 Million Position in Rocket Companies, Inc. $RKT

Eurizon Capital SGR S.p.A. purchased a new stake in Rocket Companies, Inc. (NYSE:RKT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 61,121 shares of the company’s stock, valued at approximately $1,183,000.

A number of other large investors also recently made changes to their positions in RKT. Pinnacle Bancorp Inc. lifted its stake in Rocket Companies by 369.7% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,503 shares of the company’s stock valued at $29,000 after buying an additional 1,183 shares during the period. City State Bank acquired a new position in Rocket Companies in the fourth quarter valued at about $30,000. Smithfield Trust Co acquired a new position in Rocket Companies in the fourth quarter valued at about $32,000. Key Financial Inc acquired a new position in Rocket Companies in the fourth quarter valued at about $32,000. Finally, Sound Income Strategies LLC lifted its stake in Rocket Companies by 354.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,974 shares of the company’s stock valued at $38,000 after buying an additional 1,540 shares during the period. Institutional investors and hedge funds own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

RKT has been the topic of several analyst reports. Stephens initiated coverage on Rocket Companies in a research note on Thursday, April 23rd. They issued an “overweight” rating and a $22.50 target price on the stock. Weiss Ratings raised Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Citizens Jmp initiated coverage on Rocket Companies in a research note on Wednesday, March 25th. They issued a “market perform” rating on the stock. Zacks Research raised Rocket Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods cut their target price on Rocket Companies from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Rocket Companies has an average rating of “Moderate Buy” and a consensus price target of $20.93.

Rocket Companies Trading Down 0.8%

NYSE RKT opened at $14.07 on Wednesday. The firm has a market cap of $39.81 billion, a P/E ratio of 281.42 and a beta of 2.19. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.37 and a quick ratio of 4.37. The stock’s 50-day moving average is $14.60 and its 200-day moving average is $17.35. Rocket Companies, Inc. has a one year low of $12.31 and a one year high of $24.36.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.76 billion. Rocket Companies had a return on equity of 4.30% and a net margin of 2.78%.Rocket Companies’s revenue was up 167.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 earnings per share. Sell-side analysts anticipate that Rocket Companies, Inc. will post 0.65 earnings per share for the current fiscal year.

About Rocket Companies

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.