46,069 Shares in Rocket Companies, Inc. $RKT Acquired by Lido Advisors LLC

Lido Advisors LLC bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT) in the first quarter, HoldingsChannel.com reports. The firm bought 46,069 shares of the company’s stock, valued at approximately $657,000.

Several other hedge funds and other institutional investors have also bought and sold shares of RKT. Vanguard Group Inc. raised 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 worth $1,689,287,000 after acquiring an additional 64,311,040 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Rocket Companies by 11,636.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,189,869 shares of the company’s stock valued at $507,037,000 after purchasing an additional 25,966,725 shares in the last quarter. Morgan Stanley boosted its position in Rocket Companies by 461.2% during the fourth quarter. Morgan Stanley now owns 27,009,279 shares of the company’s stock valued at $522,900,000 after purchasing an additional 22,196,782 shares in the last quarter. State Street Corp grew its stake in Rocket Companies by 323.9% in the fourth quarter. State Street Corp now owns 20,688,336 shares of the company’s stock valued at $400,526,000 after purchasing an additional 15,807,776 shares during the last quarter. Finally, ValueAct Holdings L.P. grew its stake in Rocket Companies by 55.1% in the fourth quarter. ValueAct Holdings L.P. now owns 39,380,652 shares of the company’s stock valued at $762,409,000 after purchasing an additional 13,985,025 shares during the last quarter. Institutional investors own 4.59% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on RKT shares. Barclays decreased their price target on shares of Rocket Companies from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, July 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $20.00 price objective on shares of Rocket Companies in a research report on Monday, May 11th. Wells Fargo & Company reduced their price objective on shares of Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. Weiss Ratings raised shares of Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Finally, Morgan Stanley upgraded shares of Rocket Companies from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $18.00 to $19.00 in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.73.

Rocket Companies Trading Down 2.0%

Shares of NYSE:RKT opened at $13.69 on Thursday. The company has a quick ratio of 4.37, a current ratio of 4.37 and a debt-to-equity ratio of 1.13. Rocket Companies, Inc. has a 52-week low of $12.17 and a 52-week high of $24.36. The stock has a market cap of $38.75 billion, a price-to-earnings ratio of 273.88 and a beta of 2.16. The business has a 50-day moving average price of $14.08 and a 200-day moving average price of $15.89.

Rocket Companies (NYSE:RKT) last issued its earnings results on Thursday, May 7th. The company reported $0.15 EPS for the quarter, beating 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 firm 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 firm earned $0.04 earnings per share. Rocket Companies’s revenue for the quarter was up 167.1% on a year-over-year basis. Equities analysts predict that Rocket Companies, Inc. will post 0.54 EPS for the current year.

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.