WINTON GROUP Ltd Buys 720,914 Shares of Rocket Companies, Inc. $RKT

WINTON GROUP Ltd boosted its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 2,909.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 745,692 shares of the company’s stock after acquiring an additional 720,914 shares during the period. WINTON GROUP Ltd’s holdings in Rocket Companies were worth $14,437,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RKT. Parallel Advisors LLC increased its stake in shares of Rocket Companies by 135.2% in the 4th quarter. Parallel Advisors LLC now owns 7,683 shares of the company’s stock valued at $149,000 after purchasing an additional 4,416 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Rocket Companies in the 4th quarter valued at $521,000. Prudential PLC bought a new position in shares of Rocket Companies in the 4th quarter valued at $493,000. Vise Technologies Inc. increased its stake in shares of Rocket Companies by 268.8% in the 4th quarter. Vise Technologies Inc. now owns 84,138 shares of the company’s stock valued at $1,629,000 after purchasing an additional 61,324 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Rocket Companies by 599.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 84,329 shares of the company’s stock valued at $1,632,000 after purchasing an additional 72,264 shares during the last quarter. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Down 4.4%

Shares of RKT opened at $12.65 on Friday. The company has a market capitalization of $35.80 billion, a PE ratio of 253.08 and a beta of 2.19. Rocket Companies, Inc. has a 12 month low of $12.38 and a 12 month high of $24.36. The stock’s 50-day moving average price is $14.54 and its two-hundred day moving average price is $17.23. The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 1.13.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, May 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. Rocket Companies had a return on equity of 4.30% and a net margin of 2.78%.The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the business earned $0.04 EPS. The business’s quarterly revenue was up 167.1% compared to the same quarter last year. On average, analysts anticipate that Rocket Companies, Inc. will post 0.65 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RKT shares. Stephens started coverage on Rocket Companies in a research note on Thursday, April 23rd. They issued an “overweight” rating and a $22.50 price target on the stock. Compass Point initiated coverage on Rocket Companies in a report on Tuesday, March 10th. They set a “buy” rating and a $21.00 price objective on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $20.00 target price on shares of Rocket Companies in a report on Monday, May 11th. Barclays raised Rocket Companies from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $22.00 to $19.00 in a report on Monday, April 6th. Finally, Weiss Ratings raised Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.93.

Rocket Companies 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.