De Lisle Partners LLP Purchases Shares of 1,363,100 Rocket Companies, Inc. $RKT

De Lisle Partners LLP purchased a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,363,100 shares of the company’s stock, valued at approximately $26,383,000. Rocket Companies comprises about 3.4% of De Lisle Partners LLP’s holdings, making the stock its 4th biggest position. De Lisle Partners LLP owned about 0.06% of Rocket Companies at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Wells Fargo & Company MN increased its holdings in shares of Rocket Companies by 74.0% during the fourth quarter. Wells Fargo & Company MN now owns 2,192,660 shares of the company’s stock valued at $42,450,000 after acquiring an additional 932,535 shares in the last quarter. Korea Investment CORP acquired a new position in shares of Rocket Companies during the fourth quarter valued at about $1,966,000. Summit Financial LLC acquired a new position in shares of Rocket Companies during the fourth quarter valued at about $10,882,000. Quadrant Capital Group LLC increased its holdings in shares of Rocket Companies by 4,561.0% during the fourth quarter. Quadrant Capital Group LLC now owns 118,575 shares of the company’s stock valued at $2,296,000 after acquiring an additional 116,031 shares in the last quarter. Finally, Gould Capital LLC increased its holdings in shares of Rocket Companies by 0.8% during the fourth quarter. Gould Capital LLC now owns 95,166 shares of the company’s stock valued at $1,842,000 after acquiring an additional 733 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Price Performance

Shares of NYSE:RKT opened at $13.06 on Friday. Rocket Companies, Inc. has a twelve month low of $12.17 and a twelve month high of $24.36. The company’s 50 day moving average is $14.43 and its 200 day moving average is $17.10. The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 1.13. The company has a market cap of $36.96 billion, a PE ratio of 261.26 and a beta of 2.19.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the company earned $0.04 EPS. Rocket Companies’s quarterly revenue was up 167.1% on a year-over-year basis. On average, sell-side analysts forecast that Rocket Companies, Inc. will post 0.65 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RKT. Barclays upgraded shares of Rocket Companies from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $22.00 to $19.00 in a report on Monday, April 6th. Compass Point began coverage on shares of Rocket Companies in a report on Tuesday, March 10th. They set a “buy” rating and a $21.00 price objective on the stock. Stephens began coverage on shares of Rocket Companies in a report on Thursday, April 23rd. They set an “overweight” rating and a $22.50 price objective on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $20.00 price target on shares of Rocket Companies in a report on Monday, May 11th. Finally, Citizens Jmp began coverage on shares of Rocket Companies in a report on Wednesday, March 25th. They issued a “market perform” rating on the stock. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Rocket Companies presently has a consensus rating of “Moderate Buy” and an average price target of $20.93.

Rocket Companies 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.