82,080 Shares in Rocket Companies, Inc. $RKT Purchased by Castle Hook Partners LP

Castle Hook Partners LP bought a new position in shares of Rocket Companies, Inc. (NYSE:RKT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 82,080 shares of the company’s stock, valued at approximately $1,589,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Rocket Companies by 280.3% during the fourth quarter. Vanguard Group Inc. now owns 87,256,540 shares of the company’s stock worth $1,689,287,000 after acquiring an additional 64,311,040 shares during the period. Nuveen LLC grew its holdings in Rocket Companies by 5.5% during the fourth quarter. Nuveen LLC now owns 32,538,137 shares of the company’s stock worth $629,938,000 after acquiring an additional 1,706,659 shares during the period. Morgan Stanley grew its holdings in Rocket Companies by 461.2% during the fourth quarter. Morgan Stanley now owns 27,009,279 shares of the company’s stock worth $522,900,000 after acquiring an additional 22,196,782 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Rocket Companies by 11,636.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,189,869 shares of the company’s stock worth $507,037,000 after acquiring an additional 25,966,725 shares during the period. Finally, ValueAct Holdings L.P. grew its holdings in Rocket Companies by 67.9% during the third quarter. ValueAct Holdings L.P. now owns 25,395,627 shares of the company’s stock worth $492,167,000 after acquiring an additional 10,270,018 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Stock Down 5.4%

Shares of RKT opened at $13.17 on Thursday. The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 1.13. Rocket Companies, Inc. has a 12 month low of $12.17 and a 12 month high of $24.36. The stock’s 50 day moving average is $14.36 and its two-hundred day moving average is $16.96. The firm has a market cap of $37.27 billion, a P/E ratio of 263.48 and a beta of 2.19.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.15 EPS for the quarter, beating 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 company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the company earned $0.04 earnings per share. Rocket Companies’s quarterly revenue was up 167.1% compared to the same quarter last year. Analysts predict that Rocket Companies, Inc. will post 0.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on RKT. Compass Point began coverage on Rocket Companies in a report on Tuesday, March 10th. They set a “buy” rating and a $21.00 target price on the stock. 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 report on Tuesday, May 12th. Zacks Research raised Rocket Companies from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Stephens began coverage on Rocket Companies in a report on Thursday, April 23rd. They issued an “overweight” rating and a $22.50 price objective on the stock. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $20.00 price objective on shares of Rocket Companies in a report on Monday, May 11th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.93.

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.