242,100 Shares in Rocket Companies, Inc. $RKT Acquired by Lingotto Investment Management LLP

Lingotto Investment Management LLP acquired a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 242,100 shares of the company’s stock, valued at approximately $3,433,000.

A number of other large investors have also bought and sold shares of the company. Lincoln Capital Corp lifted its position in shares of Rocket Companies by 304.1% during the second quarter. Lincoln Capital Corp now owns 270,614 shares of the company’s stock worth $3,837,000 after acquiring an additional 203,639 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Rocket Companies in the first quarter valued at $5,381,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Rocket Companies during the 2nd quarter valued at $44,102,000. Charles Schwab Investment Management Inc. lifted its holdings in Rocket Companies by 8.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,266,399 shares of the company’s stock worth $15,285,000 after purchasing an additional 103,156 shares in the last quarter. Finally, MFG Wealth Management Inc. boosted its stake in Rocket Companies by 37.6% in the 2nd quarter. MFG Wealth Management Inc. now owns 177,762 shares of the company’s stock worth $2,521,000 after purchasing an additional 48,560 shares during the period. 4.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Rocket Companies

In related news, Director Matthew Rizik sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $19.29, for a total transaction of $48,225.00. Following the transaction, the director directly owned 1,005,684 shares of the company’s stock, valued at approximately $19,399,644.36. This trade represents a 0.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 7,500 shares of company stock worth $133,650. 92.64% of the stock is currently owned by corporate insiders.

Rocket Companies Price Performance

Shares of NYSE:RKT opened at $19.39 on Friday. The company’s fifty day moving average price is $17.63 and its 200-day moving average price is $16.57. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 19.68. The firm has a market capitalization of $40.81 billion, a price-to-earnings ratio of 242.41 and a beta of 2.26. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $22.56.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.65 billion. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. The firm’s revenue was up 148.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. On average, equities research analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays set a $19.00 price target on Rocket Companies and gave the company a “cautious” rating in a research report on Monday, October 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $22.00 target price (up previously from $16.00) on shares of Rocket Companies in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Rocket Companies in a report on Monday, October 13th. Royal Bank Of Canada upped their price target on shares of Rocket Companies from $17.00 to $20.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price objective on Rocket Companies from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.18.

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.