Universal Beteiligungs und Servicegesellschaft mbH Takes Position in Rocket Companies, Inc. $RKT

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 81,816 shares of the company’s stock, valued at approximately $1,584,000.

A number of other large investors have also recently modified their holdings of RKT. Royal Bank of Canada boosted its stake in shares of Rocket Companies by 48.9% during the 1st quarter. Royal Bank of Canada now owns 69,641 shares of the company’s stock valued at $841,000 after purchasing an additional 22,861 shares in the last quarter. Amundi boosted its stake in shares of Rocket Companies by 3.1% during the 1st quarter. Amundi now owns 33,416 shares of the company’s stock valued at $403,000 after purchasing an additional 997 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Rocket Companies by 1,086.5% during the 1st quarter. AQR Capital Management LLC now owns 400,467 shares of the company’s stock valued at $4,734,000 after purchasing an additional 366,716 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Rocket Companies by 12.2% during the 1st 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 purchasing an additional 40,326 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of Rocket Companies by 17.2% during the 2nd quarter. Creative Planning now owns 18,215 shares of the company’s stock valued at $258,000 after purchasing an additional 2,679 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Compass Point assumed coverage on shares of Rocket Companies in a research note on Tuesday, March 10th. They set a “buy” rating and a $21.00 target price on the stock. Wells Fargo & Company dropped their price objective on shares of 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. Barclays raised shares of Rocket Companies from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $22.00 to $19.00 in a research note on Monday, April 6th. Citizens Jmp assumed coverage on shares of Rocket Companies in a research note on Wednesday, March 25th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Rocket Companies from $24.00 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.40.

Rocket Companies Trading Up 0.2%

Shares of NYSE RKT opened at $14.65 on Friday. The firm’s 50 day moving average price is $15.36 and its 200-day moving average price is $17.74. The company has a market cap of $41.31 billion, a PE ratio of -112.70 and a beta of 2.23. Rocket Companies, Inc. has a 52-week low of $11.08 and a 52-week high of $24.36. The company has a debt-to-equity ratio of 1.07, a quick ratio of 70.90 and a current ratio of 70.90.

Rocket Companies (NYSE:RKT) last issued its earnings results on Thursday, February 26th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.24 billion. Rocket Companies had a negative net margin of 1.02% and a positive return on equity of 3.04%. The business’s revenue was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 earnings per share. On average, equities research analysts expect that Rocket Companies, Inc. will post 0.65 EPS for the current fiscal year.

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.