State of Wyoming Makes New $503,000 Investment in Rocket Companies, Inc. $RKT

State of Wyoming bought a new stake in Rocket Companies, Inc. (NYSE:RKT) during the third quarter, Holdings Channel.com reports. The firm bought 43,682 shares of the company’s stock, valued at approximately $503,000.

Other large investors have also modified their holdings of the company. Amundi grew its holdings in shares of Rocket Companies by 152.1% during the 1st quarter. Amundi now owns 13,725,878 shares of the company’s stock worth $195,594,000 after purchasing an additional 8,280,463 shares during the period. Wellington Management Group LLP raised its position in Rocket Companies by 64.5% in the second quarter. Wellington Management Group LLP now owns 9,029,295 shares of the company’s stock valued at $142,211,000 after purchasing an additional 3,541,916 shares during the period. Maple Rock Capital Partners Inc. lifted its stake in Rocket Companies by 76.9% during the second quarter. Maple Rock Capital Partners Inc. now owns 5,543,600 shares of the company’s stock worth $87,312,000 after purchasing an additional 2,410,400 shares in the last quarter. Atreides Management LP boosted its position in shares of Rocket Companies by 69.7% during the first quarter. Atreides Management LP now owns 6,114,947 shares of the company’s stock worth $87,138,000 after buying an additional 2,512,384 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Rocket Companies during the second quarter worth $74,874,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Trending Headlines about Rocket Companies

Here are the key news stories impacting Rocket Companies this week:

• Positive Sentiment: Falling Treasury yields supported housing stocks. Retreating bond yields improved the outlook for rate-sensitive mortgage and housing companies, helping Rocket outperform peers such as Compass and Zillow. Rocket Companies Jumps 9%, Compass and Zillow Surge 8 as Treasury Yields Retreat
• Positive Sentiment: Third-quarter earnings exceeded expectations. Rocket reported adjusted earnings per share of $0.15, ahead of estimates, while revenue growth and profitability remained resilient despite a weak mortgage market. Management also expects $2.1 billion–$2.3 billion of fourth-quarter adjusted revenue and further expense synergies from the Mr. Cooper acquisition. Rocket Companies: Stunning Growth In A Terrible Housing Market
• Positive Sentiment: Options activity suggested increased bullish interest. Investors purchased 90,488 call options, approximately 38% above the average daily call volume, potentially amplifying upward momentum and signaling expectations for further gains.
• Positive Sentiment: Some analysts see additional appreciation potential. JPMorgan reportedly forecast strong price appreciation for Rocket, adding to the positive reaction following the earnings report. JPMorgan Chase Forecasts Strong Price Appreciation for Rocket Companies
• Neutral Sentiment: Technical momentum improved. The stock moved above its 50-day moving average after the earnings-driven gap higher, although it remained below its 200-day average, leaving the broader trend mixed. Rocket Companies Share Price Crosses Above Fifty Day Moving Average
• Negative Sentiment: Analysts raised valuation concerns. Coverage characterized RKT as potentially overvalued even after its profitability improvement, while Royal Bank of Canada reduced its price target. Rocket Companies Stock Looks Overvalued Even After Strong Profitability
• Negative Sentiment: New mortgage originations remain a concern. Weak housing activity and challenging origination trends could limit revenue growth, particularly if mortgage rates remain elevated. Rocket Companies: Struggling With New Originations

Rocket Companies Stock Performance

NYSE:RKT opened at $13.75 on Tuesday. The company has a quick ratio of 4.85, a current ratio of 4.85 and a debt-to-equity ratio of 1.16. Rocket Companies, Inc. has a fifty-two week low of $10.18 and a fifty-two week high of $24.36. The stock has a market cap of $38.93 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 3.46 and a beta of 2.23. The firm’s fifty day simple moving average is $12.37 and its 200-day simple moving average is $14.71.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Rocket Companies had a net margin of 4.70% and a return on equity of 5.13%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the business earned $0.07 earnings per share. The business’s revenue for the quarter was up 37.4% compared to the same quarter last year. Analysts expect that Rocket Companies, Inc. will post 0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RKT shares. Wells Fargo & Company set a $13.00 price objective on Rocket Companies and gave the company an “equal weight” rating in a research note on Tuesday, October 6th. Benchmark decreased their price target on shares of Rocket Companies from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Morgan Stanley set a $16.00 price target on shares of Rocket Companies and gave the stock an “overweight” rating in a research note on Monday, October 12th. Royal Bank Of Canada cut their target price on shares of Rocket Companies from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Friday. Finally, Stephens cut their price target on Rocket Companies from $22.50 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Rocket Companies has a consensus rating of “Moderate Buy” and an average target price of $18.75.

Insiders Place Their Bets

In other Rocket Companies news, Rocket Mortgage CEO Jesse Bray sold 225,000 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $13.11, for a total value of $2,949,750.00. Following the completion of the transaction, the insider directly owned 7,953,027 shares of the company’s stock, valued at approximately $104,264,183.97. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 450,000 shares of company stock worth $5,687,074 in the last quarter. Corporate insiders own 57.68% of the company’s stock.

Rocket Companies Profile

Rocket Companies, Inc is a Detroit-based financial technology company that operates a portfolio of consumer finance and real estate businesses. Its platform is designed to simplify the homeownership process through digital applications, automated workflows and online customer support.

The company’s principal business is Rocket Mortgage, a residential mortgage lender and servicer offering home purchase, refinance and home equity products. Its broader portfolio includes Rocket Homes, a real estate services platform; Rocket Money, a personal finance app that helps consumers manage subscriptions, budgets and bills; Rocket Loans, which provides personal loans; and Rocket Pro, which supports mortgage brokers and other partners.

Rocket Companies traces its history to 1985, when Dan Gilbert founded Rock Financial.