Moors & Cabot Inc. Acquires New Position in Rocket Companies, Inc. $RKT

Moors & Cabot Inc. bought a new position in Rocket Companies, Inc. (NYSE:RKT) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 32,876 shares of the company’s stock, valued at approximately $466,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of Rocket Companies by 148.3% during the first quarter. Bank of New York Mellon Corp now owns 1,163,399 shares of the company’s stock worth $14,042,000 after acquiring an additional 694,779 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Rocket Companies by 33.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 29,845 shares of the company’s stock valued at $360,000 after purchasing an additional 7,432 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in Rocket Companies by 52.1% in the 1st quarter. Stratos Wealth Partners LTD. now owns 24,717 shares of the company’s stock worth $298,000 after purchasing an additional 8,463 shares during the period. Nisa Investment Advisors LLC raised its position in Rocket Companies by 47.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 78,100 shares of the company’s stock worth $1,007,000 after purchasing an additional 25,000 shares during the period. Finally, Arizona State Retirement System lifted its stake in Rocket Companies by 8.2% in the first quarter. Arizona State Retirement System now owns 39,739 shares of the company’s stock worth $480,000 after purchasing an additional 3,023 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Trading Up 3.5%

RKT opened at $16.16 on Friday. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $22.56. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 18.74. The business has a 50 day simple moving average of $18.27 and a two-hundred day simple moving average of $15.81. The firm has a market capitalization of $34.00 billion, a price-to-earnings ratio of 201.96 and a beta of 2.21.

Rocket Companies (NYSE:RKT) last posted its earnings results on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Rocket Companies had a positive return on equity of 2.83% and a negative net margin of 1.77%.The business’s revenue was up 148.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 earnings per share. Rocket Companies has set its Q4 2025 guidance at EPS. Analysts predict that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. UBS Group set a $17.00 price objective on Rocket Companies and gave the company a “neutral” rating in a research note on Friday, October 10th. Weiss Ratings restated a “sell (d)” rating on shares of Rocket Companies in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price target on Rocket Companies from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Rocket Companies in a research report on Monday, October 13th. Finally, Barclays set a $19.00 target price on shares of Rocket Companies and gave the stock a “cautious” rating in a report on Monday, October 6th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.54.

Rocket Companies Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.