Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Rocket Companies, Inc. (NYSE:RKT – Free Report) by 4,574.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 879,621 shares of the company’s stock after acquiring an additional 860,804 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Rocket Companies were worth $17,487,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the business. ORG Partners LLC increased its position in Rocket Companies by 22.3% during the fourth quarter. ORG Partners LLC now owns 2,857 shares of the company’s stock worth $55,000 after acquiring an additional 520 shares during the period. Composition Wealth LLC increased its position in Rocket Companies by 2.7% during the fourth quarter. Composition Wealth LLC now owns 25,323 shares of the company’s stock worth $490,000 after acquiring an additional 668 shares during the period. Parallel Advisors LLC increased its position in Rocket Companies by 26.1% during the third quarter. Parallel Advisors LLC now owns 3,267 shares of the company’s stock worth $63,000 after acquiring an additional 677 shares during the period. Amundi increased its position in Rocket Companies by 2.3% during the second quarter. Amundi now owns 34,170 shares of the company’s stock worth $498,000 after acquiring an additional 754 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Rocket Companies by 23.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,339 shares of the company’s stock worth $62,000 after acquiring an additional 816 shares during the period. 4.59% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently commented on RKT. Keefe, Bruyette & Woods raised shares of Rocket Companies from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $20.00 to $22.00 in a research report on Monday, March 16th. Citizens Jmp began coverage on shares of Rocket Companies in a research report on Wednesday, March 25th. They set a “market perform” rating on the stock. Barclays raised shares of Rocket Companies from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $22.00 to $19.00 in a report on Monday, April 6th. Wells Fargo & Company decreased their target price on shares of Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Rocket Companies from $24.00 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.00.
Rocket Companies Price Performance
RKT stock opened at $15.69 on Friday. The company has a quick ratio of 70.90, a current ratio of 70.90 and a debt-to-equity ratio of 1.07. Rocket Companies, Inc. has a 12 month low of $11.08 and a 12 month high of $24.36. The firm has a market cap of $44.24 billion, a P/E ratio of 313.76 and a beta of 2.23. The company’s 50-day moving average price is $15.16 and its two-hundred day moving average price is $17.70.
Rocket Companies (NYSE:RKT – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Rocket Companies had a net margin of 2.78% and a return on equity of 5.14%. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the firm earned $0.04 EPS. The business’s quarterly revenue was up 167.1% compared to the same quarter last year. On average, analysts anticipate that Rocket Companies, Inc. will post 0.63 earnings per share for the current fiscal year.
Trending Headlines about Rocket Companies
Here are the key news stories impacting Rocket Companies this week:
- Positive Sentiment: Rocket Companies posted better-than-expected Q1 results, with earnings of $0.15 per share topping estimates and revenue of $2.82 billion beating forecasts, helped by a 167% year-over-year jump in revenue. Rocket Companies (RKT) Beats Q1 Earnings and Revenue Estimates
- Positive Sentiment: Management highlighted accelerating momentum from AI and acquisitions, with EBITDA more than tripling, reinforcing the idea that the company’s turnaround is taking hold. Rocket Companies Beats Estimates as AI and Acquisitions Accelerate the Turnaround
- Positive Sentiment: Shares also got a sentiment boost from unusually heavy call-option buying, suggesting traders are positioning for more upside after the earnings report.
- Neutral Sentiment: Rocket’s Q2 revenue guidance of $2.7 billion to $2.9 billion was below consensus, which could limit gains if investors focus on near-term execution rather than the quarterly beat. Rocket Companies trades higher as Q1 earnings top estimates, Q2 guidance below consensus
- Neutral Sentiment: Redfin’s report that pending home sales hit the highest level in nearly four years is a supportive backdrop for Rocket’s mortgage business, but it is indirect and not a company-specific catalyst. Redfin Reports Pending Home Sales Hit Highest Level in Nearly 4 Years
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.
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