39,971 Shares in Rocket Companies, Inc. $RKT Bought by EMC Capital Management

EMC Capital Management purchased a new position in Rocket Companies, Inc. (NYSE:RKT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 39,971 shares of the company’s stock, valued at approximately $774,000. Rocket Companies comprises about 0.3% of EMC Capital Management’s investment portfolio, making the stock its 17th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of Rocket Companies in the 4th quarter valued at about $26,000. Acumen Wealth Advisors LLC bought a new position in Rocket Companies during the 4th quarter worth approximately $26,000. Pinnacle Bancorp Inc. grew 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 worth $29,000 after acquiring an additional 1,183 shares during the last quarter. City State Bank purchased a new position in Rocket Companies in the 4th quarter worth approximately $30,000. Finally, Smithfield Trust Co purchased a new position in Rocket Companies in the 4th quarter worth approximately $32,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Companies Trading Down 0.1%

RKT opened at $14.41 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 business has a 50 day simple moving average of $14.34 and a two-hundred day simple moving average of $16.91. The firm has a market capitalization of $40.76 billion, a price-to-earnings ratio of 288.14 and a beta of 2.19.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The firm 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%.The business’s quarterly revenue was up 167.1% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. Analysts predict that Rocket Companies, Inc. will post 0.65 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on RKT. BTIG Research reissued a “neutral” rating on shares of Rocket Companies in a research note on Tuesday. Citizens Jmp initiated coverage on shares of Rocket Companies in a research note on Wednesday, March 25th. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Rocket Companies from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Stephens began coverage on shares of Rocket Companies in a research report on Thursday, April 23rd. They set an “overweight” rating and a $22.50 price target for the company. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $20.00 price target on shares of Rocket Companies in a research report on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” 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.