De Lisle Partners LLP Makes New Investment in Rocket Companies, Inc. $RKT

De Lisle Partners LLP acquired a new position in Rocket Companies, Inc. (NYSE:RKT) during the 4th quarter, HoldingsChannel reports. The fund acquired 1,363,100 shares of the company’s stock, valued at approximately $26,383,000. Rocket Companies accounts for approximately 3.4% of De Lisle Partners LLP’s holdings, making the stock its 4th biggest position.

Other hedge funds have also bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its position in Rocket Companies by 369.7% in the 4th quarter. Pinnacle Bancorp Inc. now owns 1,503 shares of the company’s stock worth $29,000 after purchasing an additional 1,183 shares in the last quarter. City State Bank purchased a new position in shares of Rocket Companies during the 4th quarter valued at approximately $30,000. Smithfield Trust Co purchased a new position in shares of Rocket Companies during the 4th quarter valued at approximately $32,000. Key Financial Inc purchased a new position in shares of Rocket Companies during the 4th quarter valued at approximately $32,000. Finally, Sound Income Strategies LLC lifted its position in shares of Rocket Companies by 354.8% during the 4th quarter. Sound Income Strategies LLC now owns 1,974 shares of the company’s stock valued at $38,000 after buying an additional 1,540 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Trading Down 2.7%

Shares of RKT stock opened at $13.06 on Friday. The stock’s fifty day moving average is $14.43 and its two-hundred day moving average is $17.10. 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 firm has a market capitalization of $36.96 billion, a P/E ratio of 261.26 and a beta of 2.19. Rocket Companies, Inc. has a fifty-two week low of $12.17 and a fifty-two week high of $24.36.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.76 billion. Rocket Companies had a return on equity of 4.30% and a net margin of 2.78%.The firm’s revenue for the quarter was up 167.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 EPS. Research analysts expect that Rocket Companies, Inc. will post 0.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Keefe, Bruyette & Woods decreased their target price on Rocket Companies from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Zacks Research upgraded Rocket Companies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Stephens assumed coverage on Rocket Companies in a research report on Thursday, April 23rd. They set an “overweight” rating and a $22.50 target price on the stock. Finally, Citizens Jmp assumed coverage on Rocket Companies in a research report on Wednesday, March 25th. They set a “market perform” rating on the stock. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.93.

About Rocket Companies

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.