Sierra Capital LLC Makes New Investment in Rocket Companies, Inc. $RKT

Sierra Capital LLC bought a new stake in Rocket Companies, Inc. (NYSE:RKT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 36,847 shares of the company’s stock, valued at approximately $522,000.

A number of other hedge funds have also made changes to their positions in RKT. Boston Partners increased its stake in Rocket Companies by 6.2% in the 2nd quarter. Boston Partners now owns 14,560,706 shares of the company’s stock valued at $206,610,000 after buying an additional 856,367 shares during the period. Vanguard Group Inc. boosted its position in Rocket Companies by 2.2% during the first quarter. Vanguard Group Inc. now owns 12,793,549 shares of the company’s stock valued at $154,418,000 after purchasing an additional 273,475 shares during the last quarter. Nuveen LLC purchased a new position in Rocket Companies in the first quarter valued at about $96,470,000. Wellington Management Group LLP grew its stake in Rocket Companies by 1.5% in the first quarter. Wellington Management Group LLP now owns 4,774,324 shares of the company’s stock valued at $57,626,000 after purchasing an additional 69,147 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Rocket Companies in the 2nd quarter worth about $44,102,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RKT has been the subject of several research reports. Jefferies Financial Group lifted their price target on Rocket Companies from $11.50 to $14.00 and gave the company a “hold” rating in a report on Tuesday, July 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rocket Companies in a research report on Wednesday, October 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $22.00 target price (up from $16.00) on shares of Rocket Companies in a research note on Wednesday, October 29th. Morgan Stanley increased their price target on shares of Rocket Companies from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Finally, Bank of America upgraded shares of Rocket Companies from a “neutral” rating to a “buy” rating and raised their price target for the company from $21.00 to $24.00 in a report on Wednesday, September 10th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.18.

Rocket Companies Stock Performance

Shares of NYSE RKT opened at $17.08 on Monday. The company has a quick ratio of 19.68, a current ratio of 19.68 and a debt-to-equity ratio of 2.16. The business’s 50 day moving average is $18.17 and its two-hundred day moving average is $16.00. The company has a market cap of $35.94 billion, a P/E ratio of 213.48 and a beta of 2.21. Rocket Companies, Inc. has a 12 month low of $10.06 and a 12 month high of $22.56.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the company posted $0.08 earnings per share. Rocket Companies’s quarterly revenue was up 148.1% on a year-over-year basis. Rocket Companies has set its Q4 2025 guidance at EPS. On average, equities analysts expect that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Rocket Companies Company Profile

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.