WINTON GROUP Ltd Acquires 720,914 Shares of Rocket Companies, Inc. $RKT

WINTON GROUP Ltd lifted its holdings in Rocket Companies, Inc. (NYSE:RKT) by 2,909.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 745,692 shares of the company’s stock after buying an additional 720,914 shares during the period. WINTON GROUP Ltd’s holdings in Rocket Companies were worth $14,437,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. raised its position in shares of Rocket Companies by 369.7% in the 4th quarter. Pinnacle Bancorp Inc. now owns 1,503 shares of the company’s stock worth $29,000 after acquiring an additional 1,183 shares in the last quarter. City State Bank bought a new position in shares of Rocket Companies in the 4th quarter worth about $30,000. Smithfield Trust Co bought a new position in shares of Rocket Companies in the 4th quarter worth about $32,000. Key Financial Inc bought a new position in shares of Rocket Companies in the 4th quarter worth about $32,000. Finally, Newbridge Financial Services Group Inc. raised its position in shares of Rocket Companies by 875.0% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,950 shares of the company’s stock worth $38,000 after acquiring an additional 1,750 shares in the last quarter. 4.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RKT shares. Keefe, Bruyette & Woods decreased their target price on Rocket Companies from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Weiss Ratings raised Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Stephens started coverage on Rocket Companies in a research report on Thursday, April 23rd. They issued an “overweight” rating and a $22.50 target price for the company. JPMorgan Chase & Co. decreased their target price on Rocket Companies from $24.00 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Finally, Citizens Jmp started coverage on Rocket Companies in a research report on Wednesday, March 25th. They issued a “market perform” rating for the company. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.93.

Rocket Companies Stock Performance

Shares of RKT opened at $12.65 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.37 and a current ratio of 4.37. The stock has a 50 day moving average price of $14.54 and a two-hundred day moving average price of $17.23. The firm has a market capitalization of $35.80 billion, a P/E ratio of 253.08 and a beta of 2.19. Rocket Companies, Inc. has a 52 week low of $12.38 and a 52 week high of $24.36.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, topping 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 the consensus estimate of $2.76 billion. During the same quarter in the previous year, the business earned $0.04 EPS. The company’s revenue was up 167.1% compared to the same quarter last year. Equities analysts forecast that Rocket Companies, Inc. will post 0.65 earnings per share for the current fiscal 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.