Brooklands Fund Management Ltd Acquires New Shares in Rocket Companies, Inc. $RKT

Brooklands Fund Management Ltd acquired a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 75,860 shares of the company’s stock, valued at approximately $1,360,000. Rocket Companies accounts for about 0.2% of Brooklands Fund Management Ltd’s investment portfolio, making the stock its 21st biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RKT. Truvestments Capital LLC acquired a new position in Rocket Companies during the 4th quarter valued at approximately $26,000. Acumen Wealth Advisors LLC acquired a new position in Rocket Companies during the 4th quarter valued at approximately $26,000. Pinnacle Bancorp Inc. boosted its position in Rocket Companies by 369.7% during the 4th quarter. Pinnacle Bancorp Inc. now owns 1,503 shares of the company’s stock valued at $29,000 after purchasing an additional 1,183 shares during the period. City State Bank acquired a new position in Rocket Companies during the 4th quarter valued at approximately $30,000. Finally, Smithfield Trust Co acquired a new position in Rocket Companies during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on RKT shares. Compass Point assumed coverage on Rocket Companies in a research report on Tuesday, March 10th. They set a “buy” rating and a $21.00 price objective for the company. Citizens Jmp assumed coverage on Rocket Companies in a research report on Wednesday, March 25th. They set a “market perform” rating for the company. Weiss Ratings upgraded Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Barclays upgraded Rocket Companies from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $22.00 to $19.00 in a research report on Monday, April 6th. Finally, Stephens assumed coverage on Rocket Companies in a research report on Thursday, April 23rd. They set an “overweight” rating and a $22.50 price target for the company. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Rocket Companies has a consensus rating of “Moderate Buy” and a consensus price target of $20.93.

Rocket Companies Stock Up 6.7%

RKT opened at $13.95 on Tuesday. 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 quick ratio of 4.37 and a current ratio of 4.37. The stock’s fifty day moving average is $14.41 and its 200-day moving average is $17.05. The company has a market capitalization of $39.47 billion, a PE ratio of 279.02 and a beta of 2.19.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.76 billion. During the same quarter in the previous year, the business earned $0.04 EPS. The company’s quarterly revenue was up 167.1% compared to the same quarter last year. On average, equities analysts predict that Rocket Companies, Inc. will post 0.65 EPS 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.