IFP Advisors Inc Makes New Investment in Rocket Companies, Inc. $RKT

IFP Advisors Inc purchased a new position in shares of Rocket Companies, Inc. (NYSE:RKT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,100 shares of the company’s stock, valued at approximately $86,000.

Several other hedge funds also recently modified their holdings of the company. GFG Capital LLC acquired a new stake in shares of Rocket Companies during the 2nd quarter worth about $8,287,000. Maryland State Retirement & Pension System acquired a new stake in shares of Rocket Companies during the 2nd quarter worth about $200,000. Wealthcare Advisory Partners LLC boosted its stake in shares of Rocket Companies by 76.0% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 50,291 shares of the company’s stock worth $713,000 after purchasing an additional 21,711 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Rocket Companies during the 2nd quarter worth about $851,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Rocket Companies during the 2nd quarter worth about $341,000. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Price Performance

RKT opened at $16.65 on Monday. The company has a quick ratio of 18.74, a current ratio of 18.74 and a debt-to-equity ratio of 2.36. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $22.56. The company has a 50 day moving average of $18.69 and a two-hundred day moving average of $15.37. The company has a market cap of $35.04 billion, a P/E ratio of -333.04 and a beta of 2.23.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm earned $0.06 earnings per share. Rocket Companies’s revenue for the quarter was up 4.5% on a year-over-year basis. Rocket Companies has set its Q3 2025 guidance at EPS. On average, analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of Rocket Companies from $17.00 to $20.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 8th. Morgan Stanley raised their target price on shares of Rocket Companies from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Rocket Companies in a research report on Wednesday, October 8th. BTIG Research reissued a “buy” rating and issued a $25.00 target price on shares of Rocket Companies in a research report on Friday, October 10th. Finally, Bank of America raised shares of Rocket Companies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $21.00 to $24.00 in a research report on Wednesday, September 10th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.12.

About Rocket Companies

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.