78,192 Shares in Rocket Companies, Inc. $RKT Bought by Aigen Investment Management LP

Aigen Investment Management LP purchased a new stake in Rocket Companies, Inc. (NYSE:RKT) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 78,192 shares of the company’s stock, valued at approximately $1,514,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Rocket Companies by 280.3% in the 4th quarter. Vanguard Group Inc. now owns 87,256,540 shares of the company’s stock valued at $1,689,287,000 after buying an additional 64,311,040 shares during the last quarter. Nuveen LLC grew its position in shares of Rocket Companies by 5.5% in the 4th quarter. Nuveen LLC now owns 32,538,137 shares of the company’s stock valued at $629,938,000 after buying an additional 1,706,659 shares during the last quarter. Morgan Stanley grew its position in shares of Rocket Companies by 461.2% in the 4th quarter. Morgan Stanley now owns 27,009,279 shares of the company’s stock valued at $522,900,000 after buying an additional 22,196,782 shares during the last quarter. ValueAct Holdings L.P. grew its position in shares of Rocket Companies by 67.9% in the 3rd quarter. ValueAct Holdings L.P. now owns 25,395,627 shares of the company’s stock valued at $492,167,000 after buying an additional 10,270,018 shares during the last quarter. Finally, State Street Corp grew its position in shares of Rocket Companies by 323.9% in the 4th quarter. State Street Corp now owns 20,688,336 shares of the company’s stock valued at $400,526,000 after buying an additional 15,807,776 shares during the last quarter. Institutional investors own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

RKT has been the topic of a number of analyst reports. Stephens initiated coverage on Rocket Companies in a research report on Thursday, April 23rd. They issued an “overweight” rating and a $22.50 price target on the stock. Citizens Jmp initiated coverage on Rocket Companies in a research report on Wednesday, March 25th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. reduced their price target on Rocket Companies from $24.00 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings upgraded Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Finally, Barclays upgraded Rocket Companies from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $22.00 to $19.00 in a research report on Monday, April 6th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.93.

Rocket Companies Stock Down 2.7%

Shares of Rocket Companies stock opened at $13.06 on Friday. Rocket Companies, Inc. has a one year low of $12.17 and a one year high of $24.36. 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 $14.43 and its 200 day moving average is $17.10. The firm has a market cap of $36.96 billion, a price-to-earnings ratio of 261.26 and a beta of 2.19.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, May 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Rocket Companies had a return on equity of 4.30% and a net margin of 2.78%.The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the company earned $0.04 EPS. The firm’s revenue for the quarter was up 167.1% compared to the same quarter last year. Equities research analysts anticipate that Rocket Companies, Inc. will post 0.65 EPS for the current 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.