Vise Technologies Inc. Has $1.63 Million Stock Holdings in Rocket Companies, Inc. $RKT

Vise Technologies Inc. raised its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 268.8% during the 4th quarter, HoldingsChannel reports. The firm owned 84,138 shares of the company’s stock after purchasing an additional 61,324 shares during the quarter. Vise Technologies Inc.’s holdings in Rocket Companies were worth $1,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RKT. Vanguard Group Inc. grew its holdings in Rocket Companies by 280.3% during the fourth quarter. Vanguard Group Inc. now owns 87,256,540 shares of the company’s stock valued at $1,689,287,000 after purchasing an additional 64,311,040 shares during the last quarter. Geode Capital Management LLC grew its holdings in Rocket Companies by 265.0% during the fourth quarter. Geode Capital Management LLC now owns 15,539,351 shares of the company’s stock valued at $299,939,000 after purchasing an additional 11,282,009 shares during the last quarter. Durable Capital Partners LP acquired a new position in Rocket Companies during the third quarter valued at approximately $213,010,000. ValueAct Holdings L.P. grew its holdings in Rocket Companies by 67.9% during the third quarter. ValueAct Holdings L.P. now owns 25,395,627 shares of the company’s stock valued at $492,167,000 after purchasing an additional 10,270,018 shares during the last quarter. Finally, Norges Bank acquired a new position in Rocket Companies during the fourth quarter valued at approximately $144,207,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays upgraded 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 report on Monday, April 6th. JPMorgan Chase & Co. lowered their price target on Rocket Companies from $24.00 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $20.00 price target on shares of Rocket Companies in a report on Monday, May 11th. 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. Finally, Citizens Jmp began coverage on shares of Rocket Companies in a research note on Wednesday, March 25th. They issued a “market perform” rating on the stock. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Rocket Companies has an average rating of “Moderate Buy” and an average target price of $20.93.

Rocket Companies Trading Up 0.0%

Shares of Rocket Companies stock opened at $12.65 on Monday. The company’s fifty day simple moving average is $14.54 and its 200-day simple moving average is $17.24. The company has a market cap of $35.80 billion, a price-to-earnings ratio of 253.08 and a beta of 2.19. The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 1.13. Rocket Companies, Inc. has a 1 year low of $12.38 and a 1 year high of $24.36.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. The business had revenue of $2.82 billion for 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%. Rocket Companies’s quarterly revenue was up 167.1% on a year-over-year basis. During the same quarter last year, the company posted $0.04 earnings per share. As a group, sell-side analysts expect that Rocket Companies, Inc. will post 0.65 EPS for the current 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.