121,402 Shares in Rocket Companies, Inc. $RKT Purchased by Blue Jean Financial LLC

Blue Jean Financial LLC acquired a new position in shares of Rocket Companies, Inc. (NYSE:RKT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 121,402 shares of the company’s stock, valued at approximately $2,350,000. Rocket Companies comprises 1.9% of Blue Jean Financial LLC’s investment portfolio, making the stock its 14th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RKT. Royal Bank of Canada increased its position in Rocket Companies by 48.9% during the first 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 last quarter. Amundi increased its position in Rocket Companies by 3.1% during the first quarter. Amundi now owns 33,416 shares of the company’s stock worth $403,000 after purchasing an additional 997 shares during the last quarter. AQR Capital Management LLC increased its position in Rocket Companies by 1,086.5% during the first quarter. AQR Capital Management LLC now owns 400,467 shares of the company’s stock worth $4,734,000 after purchasing an additional 366,716 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Rocket Companies by 12.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,619 shares of the company’s stock worth $4,473,000 after purchasing an additional 40,326 shares during the last quarter. Finally, Creative Planning increased its position in Rocket Companies by 17.2% during the second quarter. Creative Planning now owns 18,215 shares of the company’s stock worth $258,000 after purchasing an additional 2,679 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Trading Down 2.7%

Shares of RKT stock opened at $13.06 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.37 and a current ratio of 4.37. The stock has a market capitalization of $36.96 billion, a P/E ratio of 261.26 and a beta of 2.19. The company has a 50 day moving average price of $14.43 and a 200 day moving average price of $17.10. Rocket Companies, Inc. has a fifty-two week low of $12.17 and a fifty-two week high of $24.36.

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

Analyst Ratings Changes

Several research firms recently issued reports on RKT. Weiss Ratings upgraded shares of Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Zacks Research upgraded shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Barclays upgraded shares of Rocket Companies from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $22.00 to $19.00 in a research report on Monday, April 6th. Compass Point initiated coverage on shares of Rocket Companies in a research report on Tuesday, March 10th. They set a “buy” rating and a $21.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of Rocket Companies from $24.00 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.93.

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.