Kettle Hill Capital Management LLC Has $14.43 Million Stock Holdings in Rocket Companies, Inc. $RKT

Kettle Hill Capital Management LLC lowered its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 41.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 745,132 shares of the company’s stock after selling 528,359 shares during the period. Rocket Companies comprises about 3.2% of Kettle Hill Capital Management LLC’s holdings, making the stock its 12th biggest position. Kettle Hill Capital Management LLC’s holdings in Rocket Companies were worth $14,426,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of RKT. ORG Partners LLC grew its position in Rocket Companies by 22.3% in the fourth quarter. ORG Partners LLC now owns 2,857 shares of the company’s stock valued at $55,000 after acquiring an additional 520 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in shares of Rocket Companies by 0.5% in the fourth 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. boosted its stake in shares of 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 purchasing an additional 636 shares in the last quarter. Composition Wealth LLC grew its holdings in shares of Rocket Companies by 2.7% during the 4th quarter. Composition Wealth LLC now owns 25,323 shares of the company’s stock valued at $490,000 after purchasing an additional 668 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Rocket Companies by 26.1% during the 3rd 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 and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RKT. Wells Fargo & Company dropped 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. Citizens Jmp assumed coverage on shares of Rocket Companies in a report on Wednesday, March 25th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods dropped their price target on Rocket Companies from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings raised Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, Barclays upgraded Rocket Companies from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $22.00 to $19.00 in a research report on Monday, April 6th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Rocket Companies has an average rating of “Moderate Buy” and an average target price of $20.93.

Rocket Companies Trading Up 6.7%

RKT opened at $13.95 on Tuesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.37 and a quick 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 company’s 50 day moving average price is $14.41 and its two-hundred day moving average price is $17.05. The firm has a market capitalization of $39.47 billion, a price-to-earnings ratio of 279.02 and a beta of 2.19.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results 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 firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.76 billion. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The company’s revenue for the quarter was up 167.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share. As a group, research analysts predict that Rocket Companies, Inc. will post 0.65 earnings per share 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.