Vaughan Nelson Investment Management L.P. Boosts Stock Holdings in Rocket Companies, Inc. $RKT

Vaughan Nelson Investment Management L.P. raised its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 10.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,309,295 shares of the company’s stock after purchasing an additional 219,685 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.08% of Rocket Companies worth $32,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC lifted its position in shares of Rocket Companies by 22.3% during the 4th quarter. ORG Partners LLC now owns 2,857 shares of the company’s stock valued at $55,000 after buying an additional 520 shares during the last quarter. Manchester Capital Management LLC increased its holdings in Rocket Companies by 0.5% in the 4th quarter. Manchester Capital Management LLC now owns 116,466 shares of the company’s stock worth $2,255,000 after acquiring an additional 618 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Rocket Companies by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock valued at $365,000 after acquiring an additional 636 shares during the period. Composition Wealth LLC raised its stake in Rocket Companies by 2.7% in the 4th quarter. Composition Wealth LLC now owns 25,323 shares of the company’s stock valued at $490,000 after acquiring an additional 668 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in Rocket Companies by 26.1% during the third quarter. Parallel Advisors LLC now owns 3,267 shares of the company’s stock valued at $63,000 after purchasing an additional 677 shares during the last quarter. 4.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RKT has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price 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. Barclays raised shares of Rocket Companies from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $22.00 to $19.00 in a research report on Monday, April 6th. BTIG Research reaffirmed a “neutral” rating on shares of Rocket Companies in a report on Tuesday, June 16th. Citizens Jmp initiated coverage on shares of Rocket Companies in a report on Wednesday, March 25th. They issued a “market perform” rating for the company. Finally, Weiss Ratings upgraded shares of Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.93.

Rocket Companies Trading Down 7.3%

Rocket Companies stock opened at $13.37 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.37 and a current ratio of 4.37. Rocket Companies, Inc. has a fifty-two week low of $12.17 and a fifty-two week high of $24.36. The stock has a market cap of $37.83 billion, a P/E ratio of 267.38 and a beta of 2.19. The firm’s fifty day moving average price is $14.31 and its 200-day moving average price is $16.84.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.03. The company had revenue of $2.82 billion during 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 firm’s quarterly revenue was up 167.1% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. Equities research analysts forecast that Rocket Companies, Inc. will post 0.65 earnings per share for the current fiscal year.

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.