Rocket Companies, Inc. $RKT Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC grew its position in Rocket Companies, Inc. (NYSE:RKT) by 1,213.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 267,031 shares of the company’s stock after acquiring an additional 246,696 shares during the quarter. Natixis Advisors LLC’s holdings in Rocket Companies were worth $5,170,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RKT. Royal Bank of Canada boosted its holdings in shares of Rocket Companies by 48.9% in the first quarter. Royal Bank of Canada now owns 69,641 shares of the company’s stock valued at $841,000 after acquiring an additional 22,861 shares during the period. Amundi boosted its holdings in shares of Rocket Companies by 3.1% in the first quarter. Amundi now owns 33,416 shares of the company’s stock valued at $403,000 after acquiring an additional 997 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Rocket Companies by 1,086.5% in the first quarter. AQR Capital Management LLC now owns 400,467 shares of the company’s stock valued at $4,734,000 after acquiring an additional 366,716 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Rocket Companies by 12.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,619 shares of the company’s stock valued at $4,473,000 after acquiring an additional 40,326 shares during the period. Finally, Creative Planning boosted its holdings in shares of Rocket Companies by 17.2% in the second quarter. Creative Planning now owns 18,215 shares of the company’s stock valued at $258,000 after acquiring an additional 2,679 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Price Performance

Shares of NYSE RKT opened at $12.36 on Tuesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.37 and a quick ratio of 4.37. The stock has a fifty day moving average price of $14.50 and a 200 day moving average price of $17.20. Rocket Companies, Inc. has a 1-year low of $12.17 and a 1-year high of $24.36. The company has a market cap of $34.97 billion, a PE ratio of 247.20 and a beta of 2.19.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the company earned $0.04 earnings per share. The company’s revenue for the quarter was up 167.1% on a year-over-year basis. Sell-side analysts forecast that Rocket Companies, Inc. will post 0.65 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RKT shares. Barclays raised Rocket Companies from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $22.00 to $19.00 in a report on Monday, April 6th. Weiss Ratings raised Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Compass Point started coverage on Rocket Companies in a report on Tuesday, March 10th. They set a “buy” rating and a $21.00 price target for the company. Citizens Jmp started coverage on Rocket Companies in a report on Wednesday, March 25th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company decreased their price target on Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Rocket Companies has a consensus rating of “Moderate Buy” and an average price target of $20.93.

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.