Wolf Hill Capital Management LP Increases Stock Holdings in Rocket Companies, Inc. $RKT

Wolf Hill Capital Management LP raised its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 186.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,221,758 shares of the company’s stock after acquiring an additional 4,703,760 shares during the period. Rocket Companies makes up 15.4% of Wolf Hill Capital Management LP’s holdings, making the stock its largest position. Wolf Hill Capital Management LP owned approximately 0.34% of Rocket Companies worth $139,813,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RKT. Vanguard Group Inc. raised its stake in Rocket Companies by 280.3% during the 4th quarter. Vanguard Group Inc. now owns 87,256,540 shares of the company’s stock valued at $1,689,287,000 after acquiring an additional 64,311,040 shares in the last quarter. Morgan Stanley raised its stake in Rocket Companies by 461.2% during the 4th quarter. Morgan Stanley now owns 27,009,279 shares of the company’s stock valued at $522,900,000 after acquiring an additional 22,196,782 shares in the last quarter. State Street Corp raised its stake in Rocket Companies by 323.9% during the 4th quarter. State Street Corp now owns 20,688,336 shares of the company’s stock valued at $400,526,000 after acquiring an additional 15,807,776 shares in the last quarter. Geode Capital Management LLC raised its stake in Rocket Companies by 265.0% during the 4th quarter. Geode Capital Management LLC now owns 15,539,351 shares of the company’s stock valued at $299,939,000 after acquiring an additional 11,282,009 shares in the last quarter. Finally, Durable Capital Partners LP bought a new stake in Rocket Companies during the 3rd quarter valued at $213,010,000. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Down 0.1%

RKT opened at $13.06 on Monday. Rocket Companies, Inc. has a one year low of $12.17 and a one year high of $24.36. 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’s fifty day moving average is $14.43 and its 200-day moving average is $17.09. The company has a market capitalization of $36.96 billion, a PE ratio of 261.26 and a beta of 2.19.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.15 EPS 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 company 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 quarterly revenue was up 167.1% compared to the same quarter last year. On average, equities analysts predict that Rocket Companies, Inc. will post 0.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RKT has been the topic of several recent analyst reports. Zacks Research raised Rocket Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings raised Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $20.00 price objective on shares of Rocket Companies in a research note on Monday, May 11th. Keefe, Bruyette & Woods dropped their price objective on Rocket Companies from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company dropped their price objective on Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.